Fiatsend Assets
Fiat-backed Tokens
ghsFIAT - A Fiat-backed token

Fiatsend Assets

ghsFIAT - A Ghanaian Cedi-Backed Token

ghsFIAT represents the total amount of Ghanaian Cedis (GHS) in Fiatsend's reserves and is burnt upon settlement completion.

How does ghsFIAT work?

Creation of ghsFIAT

To mint ghsFIAT:

  • Users supply equivalent GHS into reserves in the form of liquidity.
  • Contributors earn competitive APYs and incentives in the form of FSEND tokens.
  • Deposited GHS is converted into ghsFIAT tokens on a 1:1 ratio, ensuring stability and full collateral backing.

Collateral Backing

  • Transparency: ghsFIAT is fully backed by fiat reserves held in trusted accounts.
  • Verification: zk-proofs and regular audits verify the 1:1 backing of every ghsFIAT token.

Using ghsFIAT for Payments and Offramping

  1. Fiat Offramping
    ghsFIAT facilitates offramping into settlement accounts and does not hold intrinsic on-chain value.

  2. Tokenized Payments
    Use ghsFIAT for fast, borderless transactions across supported platforms.

Redemption of ghsFIAT

  • ghsFIAT can be redeemed at any time for an equivalent amount of GHS.
  • The redemption process ensures liquidity and easy access to fiat.

Why Choose ghsFIAT?

  • Stable Value: Backed 1:1 by GHS reserves for consistent and reliable value.
  • Fiat Onramping and Offramping: Seamlessly transition between fiat and crypto.
  • Transparency and Trust: Supported by zk-proofs and regular audits for user confidence.
  • Accessibility: Easily redeem ghsFIAT to mobile money wallets or local bank accounts.
  • Integration: Ideal for tokenized payments and on-chain use cases.

Getting Started with ghsFIAT

  1. Mint ghsFIAT: Deposit GHS through Fiatsend to instantly create ghsFIAT tokens.
  2. Use ghsFIAT: Utilize it for tokenized payments, decentralized finance (DeFi) opportunities, or fiat conversions.
  3. Redeem ghsFIAT: Convert your ghsFIAT tokens back to fiat through Fiatsend's trusted offramping services.

Disclaimer

ghsFIAT is a stable token designed for low-risk transactions. However, all cryptocurrency activities carry inherent risks. Please conduct your own due diligence before engaging with tokenized assets.

StablecoinsugxFIAT - A Fiat-backed token