SIP_019_Universe Protocol V2 update

2 min readAug 3, 2021

Supernova&Bigbang Stablecoin Mechanism will update on August 20th 2021!

Introduction

Supernova universe / Big Bang universe are an important part of experimental algorithmic stable coin multiverse. All participants will experience the origin, expansion and stability of the universe and the birth, evolution and annihilation of numerous algorithmic stable coin planets.

About 150 ERAs (Rebase cycles) have been experienced since the Supernova Universe / Big Bang Universe went online on February 24.

As sFUND / PCV assets are not enough to support algorithmically stable currency assets, many algorithmically stabilized currency planets face accelerated de-anchoring.

Proposal

Introduction to Supernova Universe / Big Bang Universe project 3rd phase we entered ahead of original schedule on August 20th 2021.

At this time, users can use collateral and SHARE to mint the algorithmic stable coin in Supernova Universe, and can use algorithmic stabilization coin to redeem collateral to maintain the stability and balance of the supernova universe.

Plan for success

Existing algorithmic stable coin assets (e.g. bCASH / sMAN / sFILDA etc) can be directly redeemed for assets in existing sFUND / PCV (smilar to Black hole mechanism)
Algorithmic stable coin assets not participating in the redemption will automatically be converted into cosmic bonds, which can be exchanged for 1: 1 for Universe Protocol V2 Vault Mortgage algorithm stable coin
The value of SHARE is retained and will carry future expected net income from permanent burnings in Universe Protocol V2, cash flows generated by minting and redemption expenses and the use of unused collateral.

SIP_019 Voting time

From August 3rd, 16.00 (GMT+8) till August 4th, 16.00 (GMT+8)

Only on following link