What is GBPC?
GBPC is a mirror representation of the Great British Pound on the Stellar network. Using the Stellar DEX, we keep GBPC pegged to the same value as the current market rates of real world GBP & USD.
Users of GBPC can redeem their tokens for USDC anytime through the Stellar DEX. USDC used to purchase GBPC are placed back into buy orders or the GBPC AMMs, meaning there are always enough USDC reserves to repurchase GBPC. A minimum spread of 1.25% is set by the issuing wallet on buy & sell offers, with offers updated regularly to reflect other market prices.
We mainly support the GBPC/USDC market to ensure users can always sell GBPC back to USDC, which ensures that GBPC stays stable and redeemable through the SDEX at all times.
Supply
We ensure to always keep the GBPC buyback ability above the circulating GBPC. Check for yourself by seeing how much USDC our issuing wallet holds.
Issuing wallet - GDXF......GBPC
We also collect AQUA when we participate in AQUA rewards. AQUA is used to vote for AQUA rewards on GBPC markets, or can be partially sold to ensure USDC reserves allow us to keep our buyback ability above the circulating GBPC.
To find out the current circulating GBPC supply, click here . Look for the figure next to "Total supply".