Featured Story 43– A Different「DFINITY」| What is WTC？
WTC is a stable coin launched by Toniq Labs for the DFINITY network, which can be exchanged 1:1 with XDR. DFINITY has set up a mechanism for the long-term stability of Cycles, that is, 1 XDR (approximately $1.43) can be exchanged for 1 trillion Cycles, and the value of XDR is determined by a package of French currencies such as US dollars, euros, and British pounds.
The role of Cycles is mainly used by developers or project parties to start and run containers, which can be exchanged by ICP. However, due to the irreversible conversion of Cycles to ICP, there will be a surplus. Excess Cycles can be exchanged into stablecoin WTC to circulate in the market, increasing Cycles’ liquidity.
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