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Ban1

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General concepts​

Peg Keepers are contracts exclusively designed to deposit and withdraw USG from specific liquidity pools so USG trades close to the $1 peg.
Tangent’s Peg Keepers are forked from crvUSD Peg Keepers. As a result, 50% of their profits are shared with Swiss Stake AG, the corporate entity developping Curve.

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Mint and burn​

Each Peg Keeper is associated with a pool where USG is paired against a fiat-redeemable stablecoin. If the pool is unbalanced in favor of USG (i.e. the balance of the fiat-redeemable stablecoin is higher than the USG balance), the Peg Keeper can deposit USG in the pool to balance it. Conversely, if the pool is unbalanced in favor of the counterparty (i.e. the balance of the fiat-redeemable stablecoin is lower than the USG balance), the Peg Keeper can withdraw USG from the pool to balance it. As Peg Keepers are permissionless contracts, anyone can call the mint and redeem functions if the required conditions for the Peg Keepers to take action are met. Additionally, if any, anyone can call the Peg Keeper’s dedicated function to distribute arbitrage profits.

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Peg Keepers list​

Below is a list of the currently active Peg Keepers.