PAVAX-Ripae AVAXDetailed Description

PAVAX-Ripae AVAX Detailed Description

Ripae is an Algorithmic Stablecoin (ASC) system where code and mathematical laws create a token whose purpose is to have the same value as the pegged token once equilibrium is reached. $pAVAX (pegged to $AVAX) is the main token with an unlimited supply. The supply is unlimited, but not unlimited. When 1$pAVAX>1.01$AVAX (TWAP>1.01), new $pAVAX will be minted to increase supply, so that the price will drop, which is consistent with the price of $AVAX. When 1 $pAVAX < 1 $AVAX, stop minting $pAVAX to avoid pushing the price down further.