Fortify (Stableton)

Fortify is an over-collateralized stablecoin protocol that allows anyone to generate stablecoins against the value of their decentralized token collateral (TON). Minting occurs through loans denominated in JT stablecoins (pegged to US dollar). All loans have an interest rate repayable upon redemption.

Fortify is a community-governed protocol. Changes are made through proposals and voted on by holders of the governance token.

What are some use cases for Fortify

• Store of value - stay long on your crypto (TON) while being able to use its value.
• Receive instant 0% interest loans
• Leverage your crypto positions
• Consumer and trade finance applications

Hackathon scope:

• For hackathon, we aim to accomplish an MVP which includes issuing stablecoin upon depositing collateral;
• Redemption - process of redeeming collateral and returning stable coin.
• Bad debt liquidations - once position collateral ratio falls beyond 150% position is subject to liquidation.