With the aim of creating a more global and inclusive financial ecosystem, the Celo protocol has launched another stablecoin on the market, cREAL. Have you ever heard of this cryptocurrency that promises to change the way the cryptocurrency universe works?
cREAL emerges as a technology that aims to accelerate the market through services, products and solutions focused on smartphone users. After all, the value of this cryptocurrency is linked to the real.
This digital currency is part of the portfolio of the Celo Foundation, which has two more cryptocurrency pegged to the dollar and the euro, cUSD and cEUR, respectively. Interested? So, read on and see more details about this crypto asset.
What is cREAL?
cREAL is a stablecoin, that is, a cryptocurrency pegged to a currency, in this case, the real. Thus, R$ 1 is equal to 1 cREAL.
Na plataforma, essa stablecoin real é usada para pagamentos, transações e quaisquer serviços financeiros. Afinal, o protocolo Celo possui o próprio token nativo, usado na governança de rede e no pagamento das taxas de transações.
On the platform, this real stablecoin is used for payments, transactions and any financial services. After all, the Celo protocol has its own native token, used in network governance and in the payment of transaction fees.
Anyone who thinks it is a common stablecoin is wrong. In reality, cREAL is algorithmic, decentralized, cryptocollateralized and tracked by the real. That is, the stability mechanism is based on open source smart contracts, which are more transparent than other stablecoin processes, such as Fiat.
After all, it is not susceptible to centralized credit or counterparty risk. Did you know about this detail? See another outstanding feature of this cryptocurrency below.
Purchases with Celo Real
cReal is a cryptocurrency ahead of other stablecoins for being present in the daily lives of consumers. It is possible to pay bills, order food and use it in various establishments with the Cielo card network, for example.
This means that, unlike other networks, which ask users to hold the native token, both the consumer and the merchant do not need this requirement to operate with this crypto.
In addition, the Celo ecosystem is already quite large and offers some facilities. That's because it has more than 300 decentralized apps that allow users to trade, borrow and get various rewards.
What are the benefits of this algorithmic stablecoin?
A great advantage of cREAL is the characteristic of decreasing the volatility of the value. Because it is pegged to Fiat currency, it is possible that the price will not change drastically between when it is shipped and when it is delivered.
A estabilidade dessa criptomoeda também é um grande benefício para o investidor. Ao contrário das moedas Fiat, o mecanismo com smart contracts tende a ter mais eficiência e estabilidade, além de não estar sujeito a crédito descentralizado ou risco de contraparte.
The stability of this cryptocurrency is also a huge benefit for the investor. Unlike Fiat coins, the mechanism with smart contracts tends to be more efficient and stable, in addition to not being subject to decentralized credit or counterparty risk.
What are the points of attention?
Before making any decision, it is important to be aware of cREAL issues such as lack of transparency, high costs and high execution time transactions when Fiat currencies are involved.
However, on the other hand, cREAL offers more security compared to Fiat currencies and digital assets. That's because the whole process can be done in seconds, just with the cell phone number.
CREAL Ecosystem
cREAL is part of the Celo ecosystem, which has an international community that also uses cUSD and cEUR. As the first green digital real, it has a lower energy expenditure when compared to other types of transactions.
Every time there is an increase in the use of stable, the Celo protocol is committed to putting up to 40% of the composition of tokenized green assets in the algorithmic reserve. Some examples of assets are carbon credits and other community projects, which guarantee a positive cycle for the environment.
The stablecoin ecosystem also allows it to be used in DeFi projects. This is because, being an open source blockchain, it is possible to use it in a decentralized and distributed way.
More than that, the ecosystem values shared prosperity. In other words, access to cryptocurrencies is simplified by mobile devices and brings significant changes to people's lives, who can create applications for cREAL.
cREAL tokenomics
In addition to the benefits already mentioned, cREAL is valued and trusted by investors for its easy use on a daily basis. Not only for its day-to-day usability and purpose in DeFi projects, but for being used as a tokenized balance to exchange for other currencies.
The market nature, which is part of the tokenomics concept, demonstrates stability. This is a point of confidence for those looking to invest in a safe asset, precisely because it is paired with the real, a traditional currency.
As it is a stablecoin, there is no need to worry about the volatility of other cryptos, which can become devalued and impact wallets. Thus, cREAL also stands out for not showing fluctuations and diversifying the portfolio.
Diversification also happens through currency trading. With cREAL, there are two differentials: no exchange rate interference or inflation in transactions. These two points lower barriers, making transactions cheaper and faster.
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