ArrayFi, an AI-powered DeFi and stablecoin platform, today announces its official launch during its Bridge Web3 2023 event.
Held in Phú Quốc, Vietnam, at Vinpearl Convention Centre, the organisation also took the opportunity to share about its latest product - the USDR algorithmic stablecoin.
Like many of its predecessors, USDR will utilise a dual token system. Unlike its predecessors, however, USDR is supported through AI-powered smart contracts, which anchors USDR to ArrayFi's native token, ARA.
Users that stake ARA will receive USDR as a loan. They will be only able to unstake their ARA once this loan is repaid.
Jim Deme, the CMO of ArrayFi, shared ArrayFi's unique safety features. The ratio of ARA to USDR will be perpetually kept at 4:1. 90% of the pledged ARA will enter the project's Safe Box, which is a complex AI algorithm created exclusively to maintain ARA's floor price. The remaining 10% will then be injected into liquidity pools for market price discovery.
ARA adopts a distribution mechanism that does not depend on seed nor private placement rounds. Instead, they elect to use a "fair launching mechanism" that has no upper limit on the total supply.
As part of its initial adoption drive, USDR's use cases include collaborations with social e-commerce company Liza, its native raffle game, and prediction platform.