Citizen Reserve
  • Citizen Reserve
  • How It Works
  • Mechanisms
    • Citizen Banks
    • Borrowing ZUSD Stablecoin
    • Withdrawals
    • Reserve Fund (OLD)
    • Reserve Fund Liquidity Provider Queue and Citizen Bonds.
    • Liquidations
      • Liquidation 1.0) Reserve Fund
      • Liquidation 2.0) Collateral Auction
      • Liquidation 3.0) Slash Auction
    • Redemptions
    • Citizen DAO Governance
    • Citizen DAO Treasury
    • Oracle Module
    • Deployment of Alternative Stablecoin Frameworks
    • Liquidian Bridge
Powered by GitBook
On this page
  1. Mechanisms

Citizen Banks

PreviousMechanismsNextBorrowing ZUSD Stablecoin

Last updated 1 year ago

Citizen Banks are the smart contracts responsible for holding the collateral, minting ZUSD as a loan against that collateral, and risk managing the loan. These contracts function similarly to a Maker vault or a Liquity trove.

Users may deposit one, multiple, or all approved forms of collateral into a Citizen Bank contract. The is responsible for obtaining the $USD quotes of all eligible collateral assets on a per-block basis. The $USD value of the assets held in a bank contract is referred to as the BankValue. The minimum BankValue to open a bank is $1,000- this parameter may be changed by the DAO.

Users may against their BankValue. All banks have a Minimum Collateral Ratio (MCR) of 110%, allowing users to withdraw up to 90.91% of the $USD value of their collateral. Should the collateral value drop below the MCR, that Bank contract will be .

Citizen Oracle Module
mint and withdraw ZUSD liquidity
liquidated