Generalize
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Frozen Walrus Finance is a stablecoin protocol on Avalanche that uses an algorithm to maintain a 1:1 peg to USDC. The protocol's supply of WLRS tokens is dynamically adjusted to keep its price in line with the price of USDC. Although the target price is $1, there may be instances where USDC deviates from its peg. In such cases, our protocol is designed to track the movements of USDC to ensure WLRS remains pegged 1:1 to it.
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What is Frozen Walrus Finance?
*The smart-contract owner can mint new tokens, please proceed with caution.
Frozen Walrus Finance is an algorithmic stable coin protocol pegged 1:1 to USDC on Avalanche via seigniorage. The protocol's underlying mechanism dynamically adjusts WLRS's supply, pushing its price up or down in relation to the price of USDC. This should be $1 however there may be times where USDC loses its peg and if our protocol is functioning as intended will follow USDC to keep pegged 1:1 to it.
