Tulip — an algorithmic stablecoin, pegged to the $ROSE price.
About Tulip project
It is an algorithmic stablecoin, pegged to the $ROSE price on Oasis Emerald. ROSE - a native token, used to pay for gas, and was the inspiration for the domain. The Tulip token serves as an algorithmic stablecoin, pegged to the price of 1 ROSE. The underlying mechanism of the protocol dynamically adjusts the $TULIP supply, raising or lowering its price relative to the ROSE price.
Inspired by Scarab and 2omb, which were originally inspired by tomb.finance as well as its predecessors, Tulip.money is a multi-token protocol that consists of the following three tokens:
1 | Tulip Token ($TULIP). |
2 | Tshares ($PETAL). |
3 | Bonds ($BUD). |
Tokens - unique tokens that can help to stabilize the price of TULIP around the anchor (1 ROSE) by reducing the circulating supply of TULIP if the TWAP (time-weighted average price) falls below the anchor (1 ROSE).
What is APY?
APR (Annual Percentage Rate) - the annual interest rate minus fees. This does not include compound interest effects, arising from the reinvestment of earnings. If you invested $100 with 100% interest, you would make $100 in a year. However, if you regularly reinvest your profits, you will increase your interest. This, calculated for the year, gives you your APY (Percentage Annual Return). The more often you compound interest, the greater the difference between the annual interest rate and the annual interest rate.
Large APY as a percentage of thousands is possible with investments that provide daily returns of 1% or more. Because your liquidity pool rewards are constantly accumulating and reinvesting, interest is accrued on larger and larger amounts.