Protocol Architecture

The Stable Credit protocol comprises the following elements:
  • Reserve Currency: a unit of value (such as a stable coin) which serves as the Stable Credits’ soft-pegged value target and in which transaction fees are collected.
  • Credit Lines (also called Stable Credit Accounts): enable Members to mint and destroy Stable Credit units according to the bookkeeping logic of mutual credit-clearing.
  • Assurance Pool: contract that accumulates currency deposits from network participants to underwrite Stable Credit risk.
  • Assurance Oracle: analyzes data from the network, members, and third parties and outputs risk analysis and predictions to an on-chain RiskOracle contract.
  • Credit Issuer: contract that enables underwriting data to calculate and assign credit terms to members.
  • Network Debt Account: autonomous network account that manages the rectification of defaulted debt accounts.