Volume (24h)
$1.45
Total supply
1,880 PYD
Max. supply
1,880 PYD
PolyQuity Dollar (PYD)
$ 0.13
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Key data
updated $0Market cap$0
Volume 24h$1.45
PolyQuity Dollar (PYD) is a stablecoin pegged to the US dollar, operating on the Polygon blockchain. It's designed to maintain price stability while enabling fast and low-cost transactions. PYD is part of the PolyQuity ecosystem, which focuses on decentralized finance (DeFi) solutions.
Frequently asked questions
What is PolyQuity Dollar (PYD) and how is it different from other stablecoins?
PYD is a decentralized stablecoin backed by collateral on the Polygon network, unlike centralized alternatives like USDT or USDC. It emphasizes transparency and DeFi integration, offering lower fees compared to Ethereum-based stablecoins.
How does PolyQuity Dollar maintain its peg to the US dollar?
PYD uses an algorithmic stabilization mechanism combined with over-collateralization, where users lock crypto assets (e.g., MATIC) to mint PYD. The system automatically adjusts supply to maintain the 1:1 peg with USD.
How is PYD created and who controls its supply?
Users generate PYD by depositing approved cryptocurrencies as collateral in PolyQuity's smart contracts. The protocol's decentralized governance (PQD token holders) votes on key parameters like collateral ratios and fees.
How can I store and use PYD?
As an ERC-20 token on Polygon, PYD can be stored in any compatible wallet (MetaMask, Trust Wallet). It's used for trading, DeFi protocols, or as a stable store of value with Polygon's low transaction costs.