gigaAssets

gigaAssets are synthetic assets tracking the price curve of specific crypto assets within the blockchain ecosystem.

Each gigaAsset token corresponds to a synthetic representation of the respective crypto asset (e.g., gigaETH, gigaBTC, etc.). Initially, the protocol will focus on issuing gigaAssets for major cryptocurrencies such as ETH, BTC, and others.

The gigaCDP governs their issuance and management. This core module tracks user deposits into Vaults and regulates the actual and target supply of gigaAsset tokens to be minted by the gigaAsset Manager. The protocol employs various mechanisms to maintain the price of a gigaAsset equal to that of its corresponding fundamental cryptocurrency, such as ETH.

The gigaCDP uses user deposits as collateral to mint gigaAsset tokens while ensuring that the protocol maintains a safe Loan-to-Value (LTV) ratio. This guarantees that every issued gigaAsset token is fully backed by the aggregated value of user positions.

gigaAssets serve as an excellent liquidity source for target protocols, which are selected by Governance based on their potential to deliver attractive returns.

Users can acquire or exchange gigaAsset tokens through AMM pools available on supported blockchain networks.