A native stablecoin like BYUSD is a core component of the Bayes Market ecosystem, designed to provide a seamless and secure user experience.
It serves as the primary currency for all platform transactions, ensuring a stable value for trading.
BYUSD is a stablecoin pegged 1:1 to USDT and is 100% backed by USDT reserves. This means that for every BYUSD in circulation on the platform, there is an equivalent amount of USDT securely held as collateral. These reserve assets are maintained under the safe custody and management of a trusted third-party institution, ensuring BYUSD's stable value and instant redeemability at all times.
Deposit: When you deposit USDT, a smart contract automatically mints an equal amount of BYUSD and credits it to your account. The deposited USDT is held securely in a third-party wallet, serving as collateral.
Withdrawal: When you wish to withdraw funds back to your external wallet, the system automatically executes the inverse process.You can instantly request to exchange your BYUSD back to USDT at a 1:1 ratio and corresponding USDT from the collateral reserve to will be transferred to your external wallet.
Bayes Market's stablecoin design adheres to the principles of "Full-Reserve" and "Instant Redemption," ensuring the complete safety of user funds and the fluid exchangeability of assets.