What is KRWC?
KRWC is a mirror representation of the South Korean Won on the Stellar network. Using the Stellar DEX, we keep KRWC pegged to the same value as the current market rates of real world KRW & USD.
Users of KRWC can redeem their tokens for USDC anytime through the Stellar DEX. USDC used to purchase KRWC are placed back into buy orders of KRWC or the KRWC AMMs, ensuring sufficient USDC reserves for repurchase. A minimum spread of 1.25% is set by the issuing wallet on buy & sell offers, updated regularly to reflect market prices.
We mainly support the KRWC/USDC market to ensure users can always sell KRWC back to USDC, which ensures that KRWC stays stable and redeemable on the SDEX.
Supply
We ensure to always keep the KRWC buyback ability above the circulating KRWC. You can check for yourself by seeing how much USDC our issuing wallet holds.
Issuing wallet - GA4J......KRWC
We also collect AQUA when we participate in AQUA rewards. AQUA is used to vote for AQUA rewards for KRWC markets, or can be partially sold to ensure USDC reserves allow us to keep our buyback ability above the circulating KRWC. When USDC reserves are in surplus, we sometimes buy AQUA tokens to increase votes for KRWC pairs.
To find out the current circulating KRWC supply, click here and look for the figure next to "Total supply".