💰 Native Stablecoins
Chiss Protocol mints fiat-backed non-USD stablecoins. These stablecoins are distributed to Facilitators based on their capital commitments to facilitate ramping operations. This uses an elastic consignment model that allocates an expandable treasury limit to committed Facilitators.
Chiss native stablecoins have an easily identifiable ticker nomenclature. The tickers are formed by prefixing the original fiat ticker with a “ch” e.g. The protocol Nigerian Naira stablecoin has the chNGN ticker and Turkish Lira has is chTRY. They function as programmable FX settlement assets that enable core protocol capabilities such as instant redemption, regulatory clarity, oracle-synced pricing, and liquidity routing.
The stablecoins also enables the protocol to aggregate multiple entry points of liquidity including fiat and the various local stablecoins in a region or jurisdiction, when supported.
Chiss-Native Stablecoins vs General-Purpose Stablecoins
| Capability | General Stablecoins | Chiss Stablecoins |
|---|---|---|
| Direct redemption to fiat/local Stables | Complex P2P markets & offramps plagued by spread. | Simplified via onchain abstraction & built-in Facilitators |
| Local regulatory compliance | Not compliant | Integrated with compliant channels |
| Ecosystem Incentives (Yield & Fees) | Passive storage asset | Active FX utility & yield generation within protocol. |