stablecoins
A dollar, held as a token, spent by the card.
A stablecoin is a token issued to hold one fixed value, here one US dollar. Gether counts one of them today.
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What USDC is, and how it is counted.
- What a stablecoin is
- A token designed to hold one fixed value, here one US dollar. The issuer holds reserves against each token and redeems it for dollars on its own terms. It is not a bank deposit.
- USDC
- A dollar stablecoin issued by Circle, which publishes its reserves. It is the stablecoin the rail backs today. Gether has no relationship with Circle.
- How it is counted
- Locked USDC counts for a share of its value, shown in the account before you deposit. The part held back is the cushion.How spending power is worked out
- How it moves today
- Base is the network Gether builds on today. USDC you deposit arrives on Base at an address shown in your account and is locked as collateral on arrival.
risks
What can go wrong with a dollar token.
In order of who is involved.
- The issuer
- A stablecoin is a claim on its issuer. If the issuer cannot redeem, the token can trade below a dollar.
- The peg
- A fall in the token is a fall in what you can spend.
- The network
- A transfer on Base is final. A deposit sent to the wrong address or network cannot be recalled.
- Gether
- You hold a balance with us, not a key.Security and risk
USDC is a trademark of Circle Internet Group, Inc. and/or its affiliates. All trademarks shown are the property of their respective owners. Gether is not affiliated with, sponsored by or endorsed by Circle.