USDT
Auto Allocation - USDT
Reduce impacts of market volatility with automatic conversion to Tether stablecoin.
MATIC sent to an Amasa account which has setup Swap to USDT in Auto Allocation, automatically enters a set of smart contracts and is swapped via Uniswap v3 in sequence.
MATIC/wETH pair > wETH/USDT pair.
The percentage of MATIC swapped to USDT will match the set percentage chosen by the account holder in their Auto Allocation.
As part of the same transaction executed by the smart contracts, the wallet address connected using Metamask to setup the Amasa account will be issued with arUSDT tokens. These function similarly to LP tokens as a record of ownership over funds within the contract. In a user-actioned withdrawal transaction,
User’s arUSDT tokens are sent back to the Amasa smart contract and burned
User receives USDT (or MATIC if selected from the dropdown option) into their connected wallet.
Users can independently confirm and track all transactions on the Ethereum blockchain.
Risk Disclosure
The DeFi space is not without risk. While we have done our best to select optimal investments, it is best to do your own research and only supply assets you can afford to lose. Read Risk Disclosure
What is USDT?
Tether (USDT) is a digital stablecoin pegged to the United States dollar, issued by a private entity and backed 100% by Tether’s reserves. Stablecoins are commonly backed by reserve assets like dollars or euros to achieve price stability. Tether (USDT) is a fiat-collateralized stablecoin, meaning that USDT tokens are collateralized by fiat money like U.S. dollars. Other types of stablecoins include those that are collateralized by a cryptocurrency, an algorithm, or by a hybrid approach.
USDT was launched in 2014, and is primarily available as an Ethereum ERC-20 token. Fractions of USDT can be owned, in the same way U.S dollars fractionalize into pennies. You can purchase as little as 0.001—equal to one-tenth of a cent—of USDT.
USDT should not be confused with a central bank digital currency (CBDC). USDT is issued by a company in the private sector, while a CBDC would be issued by a government. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.
Tether claims to be a fully transparent company, and publishes a daily record of their current total assets and reserves.
What are arUSDT tokens?
Amasa uses Amasa Record (ar) tokens which function like Liquidity Pool ( LP ) tokens as a record of ownership over funds within Amasa smart contracts.
Currently these are the following arTokens used in the Amasa smart contracts.
arUSDC ( USDC )
arUSDT ( USDT )
arWBTC ( WBTC )
arwstETH ( Liquid staked wrapped ETH on Lido )
arDPI ( DPI )
arMVI ( MVI )
How long do I have to keep funds in my account?
There are no restrictions or lockup time periods on any user funds in accounts. If there are funds in your account they can be withdrawn at any time.
Who holds my funds?
All user funds are non-custodial and securely stored in the Amasa smart contracts on Polygon, a Layer2 network on the Ethereum blockchain. Only a connected wallet which holds arTokens ( Amasa Record Tokens ) is able to withdraw funds from the Amasa smart contracts. Only the value of the arTokens held by the user can be withdrawn.
Last updated