Introduction to Utopia
Dive into the Utopia metaverse. Everything you want to know about Utopia is here!
Utopia is a metaverse project that transforms everything into blockchain. But Utopia is not just a metaverse. It is essentially a parallel universe. A parallel universe means that through Utopia, we can have the second, third, and Nth lives, where we can have a variety of brand-new identities, assets, social relationships, and complete life and social activities.
In the Utopia parallel universe, Utopia stablecoin (Ustablecoin) is the only universally legal stable currency. Like DAI, it adopts a 110% excess margin system and is based on mainstream loan coins such as BTC and ETH to generate a variety of real legal currencies that are linked to Ustablecoins, such as UUSD, UEUR, UAUD, etc. All Utopians can participate in all activities in the Utopia universe by utilizing Ustablecoins, including but not limited to games, decentralized exchange, decentralized lending, NFT markets and other economic activities.
Features of the Utopia metaverse include:
- The possibility to use various tokens, coins, and LP tokens as collateral assets in different combinations.
- Support for multiple stablecoins pegged to different fiat currencies: UUSD, UEUR, UAUD, etc.
- Effective scalability.
- Relatively low collateralization ratio (110%): a user can obtain a maximum of $110 for each $100 supplied in stablecoins.
- Stability fees that are adjusted automatically on-chain: users will pay a zero or near-zero stability fee when the collateralization ratio is high and a higher fee when the collateralization ratio is low. This will encourage users to repay Ustablecoins.
- A fully decentralized on-chain liquidation mechanism.
- A deflationary governance token (UC) that allows users to participate in community governance and on-chain voting, accelerative incentives, and earn a percentage of the liquidation fees generated by the protocol.
- Support for multiple blockchains, including Ethereum, Polkadot, Huobi Eco, Binance Smart Chain, and others.
- Instant liquidation (no auction).
- Reinvestment mechanisms to maximize returns.