How to Use the Trustless Currency Protocol

The Trustless Currency Protocol allows users to create positions, stake, and provide liquidity.

The Trustless Team
March 31, 2022
Create a Position

The primary use for TCP is to deposit Eth collateral to mint a stablecoin called Hue. Defi lending is anonymous, so the protocol maintains stability by ensuring that borrowers always back their loans with real value. If a position becomes under-collateralized (the value of locked Eth collateral falls below the required threshold), it is subject to liquidation.

A third token, TCP, is awarded to position holders over time. TCP governs the Trustless Currency Protocol.

Stake Hue

Staking allows users to remove their Hue from circulation to earn interest. Users can withdraw their Hue at any time. Hue is immediately useful, allowing holders to earn interest.

Add Liquidity

A financial protocol requires liquidity to remain healthy. You can provide liquidity by depositing a pair of tokens into a liquidity pool. Although TCP will launch with a single Eth:Hue liquidity pool, more are likely to be added by TCP governance. The protocol gives TCP to users who provide liquidity.

Next: How to Provide Liquidity on SyncSwap >