Set up price-stable credit

Setup describes a process where a trusted partner creates a new type of price-stable credit. Aside from the name, a stable credit has two values associated with it; the pegged currency and the pegged value. The minted stable credit is pegged to the currency specified as the pegged currency. Pegged value signifies the ratio between currency value and 1 unit of stable credit.

Stable credit names must be unique for each trusted partner. A single type of stable credit is only allowed to be pegged to a single currency.

Under the hood, the set up process is creating a pair of accounts on Stellar Specifically,

  1. Issuing account

  2. Distribution account

The stable credit is minted from the issuing account and is transferred to the distribution account. Only you, as a trusted partner, will be able to withdraw stable coin from the distribution account. Please note that a trustline between your account and the issuing account of the stable credit needs to be established before you can transfer the minted stable credit to your account.