How It Works

What is Stable Pay?
Stable Pay

XANK Price Increase Scenario

You may be wondering what happens if you send a stable transaction and the price of the XANK coin increases. Does that mean the entire value of the transaction will rise? Not at all. Let’s take a look at a price increase scenario.

Day 1, XANK = $10

Alice wants to send Bob exactly $100. Using Stable Pay, Alice sends Bob 10 XANK coins at $10 per XANK coin. Bob now has 10 XANK coins worth $100.

Day 30, XANK = $20

Bob has 10 XANK in his wallet. But by day 30, the price of XANK has risen to $20 per XANK coin. Does that mean Bob now has $200? No, he still has $100 because it is a Stable Pay transaction.

Day 30, Bob has $100

How? Because the price went up, the Xank Reserve automatically withdrew 5 XANK at $20 per XANK coin from the transaction. Bob now has 5 XANK, but they still equal $100.

Stable Pay

XANK Price Decrease Scenario

A similar thing happens when you send a stable transaction and the price of the XANK coin decreases. Let’s take a look at what happens when you activate a Stable Pay transaction and the price of XANK falls.

Day 1, XANK = $10

Alice wants to send Bob exactly $100. Using Stable Pay, Alice sends Bob 10 XANK coins at $10 per XANK coin. Bob now has 10 XANK coins worth $100.

Day 30, XANK = $5

Bob has 10 XANK in his wallet. But by day 30, the price of XANK has fallen to $5 per XANK coin. Does that mean Bob now has $50? No, he still has $100 because it is a Stable Pay transaction.

Day 30, Bob has $100

How? Because the price went down, the Xank Reserve automatically deposited 10 XANK at $5 per XANK coin to the transaction. Bob now has 20 XANK, but they still equal $100.

Why Stable Pay?

Xank is the world’s first free-floating cryptocurrency with stable transactions and investment value

Fully Decentralized

The permissionless and fully decentralized Xank Reserve is maintained by block rewards, making it a self-funding entity with no collateral requirements.

Simulated Peg

Stable Pay maintains a per transaction simulated peg to the IMF SDR (ISO Code: XDR), a basket of the world’s major currencies that is inherently more stable than any single currency.

Self-sovereign Identity

Xank governance is based on a “one person, one meritocratically weighted vote” that uses a Self-sovereign Identity (SSI) to protect its governance integrity.

Non-collateralized

Xank does not peg its entire coin supply to the USD like other fiat or crypto asset-backed stablecoins, rendering it less susceptible to a sustained market downturn.

DeFi FX Forward

Stable Pay is a DeFi (Decentralized Finance) version of an FX forward transaction without an end date. A simulated peg to the IMF SDR allows for on-demand stable transactions.

Humanity First

The Xank DAO abides by the Xank Constitution, an unfaltering set of principles for the Xank network, to make the right governance decisions for the betterment of society.