About USDP Stablecoin

USDP Stablecoin is a fully backed cryptocurrency and is minted on the Unit Protocol by staking other tokens as collateral. The Unit Protocol is a decentralized protocol that allows users to borrow liquidity for assets that are difficult to sell in the crypto markets. The protocol benefits from stability fees after users repay liquidation fees and borrowed USDP if Collateralized Debt Positions (CDPs) are liquidated. This happens when the debt/collateral ratio exceeds the liquidation ratio (LR). This process is closely monitored by liquation bots and normally initiate the process when set conditions are met. This is followed by a Dutch auction for the specific collateral but this time with a linear decrease in price. All users are able to buyout part of the collateral by paying the USDP debt for the liquidated CDP at the current price. The Unit Protocol is powered by the DUCK token. It allows users to participate in governance matters as well as Unit Protocol decision making system.