Collats Token

Collats are mainly used to provide a standard collateral value to crypto assets.

Collats are backed by Stable Coins or other assets that can guarantee a one to one exchange rate with the US Dollar.

Collats are immune to the swings or fluctuations of the Crypto Currency's market and are minted when a user deposits the same amount of an accepted back up asset. They are locked in vault and have no immediate exposure to the market's movements. In other words we don not speculate with any percentage of the backup assets tied to the Collats' total supply.

Collats follow the ERC20 standard and can be traded peer to peer, exchanged on any DEX or any approved Centralized Exchange where it is listed.

• There will be no gambling with the backup assets.

• Collats are issued independently in each chain.

• Each chain independently manage its own vault.

• Anyone can mint coins at anytime and any amount.

• A 0.9% fee is charged to mint coins.

• The underlying asset is defined by the smart contract.

• The redeeming asset is defined by the smart contract.

Minting

The process of minting begins when the smart contracts receives the native network coin. That coin will purchase as much of the underlying asset as possible. The equivalent amount of the underlying asset will be minted. The fee will be transferred to the owner of the contract and the remaining amount will be transferred to the current user.

Redeeming

The user will transfer the amount of Collats to be exchanged. The equivalent amount of underlying assets will be used to be transferred to the current user. The amount of Collats will be burned.

Underlying Asset

The smart contract manages the relationship between backup assets and total supply. The backup assets can be added or removed to maintain the stability of the one-to-one relationship. The user can choose between the underlying assets approved or the preferred Current Asset to either mint or redeem Collats.

Name

Collats

Symbol

Collats

Decimals

18

Total Supply

Paired to the backup assets

Vesting

Immediate

Blockchains

Network	Contract Address
Ethereum	0xEB7C8695c4E127b4237D1B7168124d3db72C1FB9
Polygon	0xEB7C8695c4E127b4237D1B7168124d3db72C1FB9
Binance Smart Chain	0xEB7C8695c4E127b4237D1B7168124d3db72C1FB9