Stable AED is a decentralized, overcollateralized stablecoin solution for AED, similar to MakerDAO for USD. Users mint AED stablecoins by locking up ATOM as collateral. This provides a stable on-chain value store to support the tokenization of real-world assets (RWAs) in Dubai—a rapidly growing market in the Cosmos ecosystem.
Chains like Mantra and Chintai are leading RWA tokenization in Dubai and Singapore, respectively, which needs reliable liquidity mechanisms in local currencies. Stable AED will fill this gap by providing liquidity pools (LPs) between AED and USD stablecoins, enabling global investors to access these on-chain opportunities.
The stablecoin leverages IBC to integrate seamlessly with Cosmos chains like Neutron and Mantra, enabling cross-chain utility and enhancing liquidity in the broader Cosmos ecosystem. By driving demand for ATOM collateral, staking it to secure the ATOM network, and generating revenue through staking and LP fees, Stable AED brings clear value to Cosmos and fosters stable growth in tokenized RWAs.
Current goals:
- Launch Stable AED: Develop and deploy Stable AED—a decentralized AED-pegged stablecoin, collateralized by ATOM.
- On-Chain Stable Value Store: Provide a stable on-chain store of value to facilitate Dubai’s tokenization efforts for RWAs.
- Integration and Liquidity: Integrate Stable AED with Cosmos chains like Neutron and Mantra via IBC to enhance liquidity and cross-chain usage.
- Liquidity Pools: Establish liquidity pools between AED and USD stablecoins to attract global liquidity and enable efficient on-chain currency conversions.
- Web UI and Asset Development: Build a user-friendly web interface and related assets to simplify user interaction with the stablecoin ecosystem, enabling users to easily lock collateral, mint stablecoins, and access liquidity pools.
- Audit of Smart Contract: Conduct a professional third-party audit of the smart contract to ensure security, compliance, and robustness before deployment to the mainnet.
