Phantasma Chain (SOUL) is a blockchain for next generation content distribution.
On November 11, the Phantasma team announced they would implement a stable coin in Phantasma Chain. This coin will be tied to SOUL through a collateralized debt position (CDP), better referred to as a smart contract.
“Smart contracts are a great solution to implement a stable coin to incentivize content creators to sell their content on our marketplace. With this solution, this new coin will be able to provide decentralized leverage to Phantasma Chain, which is awesome!” – writes the team.
The reason of the move is that “one of the main pillars of a well-functioning and a secure system for eCommerce of both digital & physical goods or services is the stability of the currency of that same marketplace”.