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Protocol Architecture

The Stable Credit protocol comprises the following elements:
  • ​Reference 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.
  • ​Risk 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 leverages underwriting data provided via the Masa Protocol to calculate and assign credit terms to members.
  • ​Network Reserve: contract that accumulates fees from network participants to underwrite Stable Credit risk.
  • ​Network Debt Account: autonomous network account that manages the rectification of defaulted debt accounts.