Introduction

What is Jewellery Finance

Jewellery Finance offers the first decentralized algorithmic stable coin on Cronos Network and Polygon Network, aiming to be pegged to the price of 1 CRO/WMATIC via seigniorage.

The protocol's underlying mechanisms are designed in a way to ensure a peg of RUBY(RUBY TOKEN):WCRO/WMATIC is achieved, and once achieved, it is maintained to establish $RUBY as a mirrored, liquid asset to $WCRO/$WMATIC. Protocol accomplishes this by introducing unique economic centric dynamics into the market through its three tokens.

How does the protocol work?

The Jewellery Finance is based on a series of complex interactions, with the behavior of multiple stakeholders deciding the pricing dynamics of the multiple tokens of the ecosystem.

When RUBY price is over the peg (like it is expected it will be for the initial few weeks/months of the project), new RUBY are minted to drive the price down. These new RUBY are allocated to RSHARE holders in the boardroom, thus staking Diamond in the boardroom makes the most logical RUBY during this period.
When RUBY price is at the peg, RUBY holders can use the RUBY-WCRO LP to increase their yield. At this point, new RUBY will stop getting minted, and each investor's Diamond will drive voting rights to have a say in the governance of the platform through DAO.
When RUBY price drops below the peg, investor's strategy should lean towards buying Sapphire using RUBY. The RUBY used to buy Sapphire will be burned, which reduces supply of RUBY and brings its price back to peg, at which point investors can sell Sapphire to earn profit.

What is the point of JewelleryFinance?

In the short term, until the peg is achieved, RUBY is focusing on optimizing the protocol and creating wealth for our early investors through Farms and Boardroom.

Once the peg is achieved, the system’s mechanisms will focus on stability and consistency so that $RUBY can function as a mirrored, liquid asset to $WCRO

For RUBY to have value, WCRO needs too to have value - for this, we need a vibrant WCRO ecosystem with flourishing projects. JewelleryFinance shift to a DAO-based governance system will ensure that the whole community stays together, makes decisions together.

What are the three tokens of JewelleryFinance?

RUBY multi-token protocol consists of the following three tokens and each plays a critical role in establishing this protocol:

RUBY (PEGS) - The RUBY token is designed for use as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain RUBY peg of 1 RUBY = 1 WCRO
DIAMOND (SHARE) - DIAMOND token holders have both governance voting and ownership rights of the protocol. Once DAO is established, they will play a crucial role in the governance of RUBY. DIAMOND can be staked in the boardroom to earn a part of minted RUBY as rewards.
SAPPHIRE ($BOND) - SAPPHIRE main job is to help incentivize and reward users for ensuring peg during an epoch contraction period.

NextLaunch (Genesis Pools)

Last updated 2 years ago

What is Jewellery Finance

Jewellery Finance offers the first decentralized algorithmic stable coin on Cronos Network and Polygon Network, aiming to be pegged to the price of 1 CRO/WMATIC via seigniorage.

How does the protocol work?

The Jewellery Finance is based on a series of complex interactions, with the behavior of multiple stakeholders deciding the pricing dynamics of the multiple tokens of the ecosystem.

When RUBY price is over the peg (like it is expected it will be for the initial few weeks/months of the project), new RUBY are minted to drive the price down. These new RUBY are allocated to RSHARE holders in the boardroom, thus staking Diamond in the boardroom makes the most logical RUBY during this period.

When RUBY price is at the peg, RUBY holders can use the RUBY-WCRO LP to increase their yield. At this point, new RUBY will stop getting minted, and each investor's Diamond will drive voting rights to have a say in the governance of the platform through DAO.

When RUBY price drops below the peg, investor's strategy should lean towards buying Sapphire using RUBY. The RUBY used to buy Sapphire will be burned, which reduces supply of RUBY and brings its price back to peg, at which point investors can sell Sapphire to earn profit.

What is the point of JewelleryFinance?

In the short term, until the peg is achieved, RUBY is focusing on optimizing the protocol and creating wealth for our early investors through Farms and Boardroom.

Once the peg is achieved, the system’s mechanisms will focus on stability and consistency so that $RUBY can function as a mirrored, liquid asset to $WCRO

What are the three tokens of JewelleryFinance?

RUBY multi-token protocol consists of the following three tokens and each plays a critical role in establishing this protocol:

RUBY (PEGS) - The RUBY token is designed for use as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain RUBY peg of 1 RUBY = 1 WCRO

DIAMOND (SHARE) - DIAMOND token holders have both governance voting and ownership rights of the protocol. Once DAO is established, they will play a crucial role in the governance of RUBY. DIAMOND can be staked in the boardroom to earn a part of minted RUBY as rewards.

SAPPHIRE ($BOND) - SAPPHIRE main job is to help incentivize and reward users for ensuring peg during an epoch contraction period.