We officially support Φ$ exclusively on PHI Network. Other platforms and protocols might opt to offer support for it outside PHI Network, but caution is always recommended. The general advice is to always check these platform's Φ$ bridging reserves and liquidity before start using them.
Is Φ$ an algorithmic stablecoin?
Φ$ is an algorithmic pegged stablecoin backed by reserves held by PHI Network treasury.
What if it loses its peg?
One Φ$ will always be worth one US Dollar, and there are platforms available for redemption in other stablecoins in different networks. This makes price balancing by arbitrage extremely likely, and over and above that PHI has other mechanisms to ensure the price gets back to peg to avoid the possibility of a decoupling event.
Can I redeem Φ$ in fiat or other stablecoins?
You can redeem Φ$ for any other stablecoin or token available on PHI Network using any decentralized exchange with enough liquidity to back up the transaction. Phi Labs has developed a cross-chain dex/amm as a decentralized on and offramp option for users.
How View Φ$ In Wallet?
Learn How To View Your Phicash In Your Wallet By Following The Instructions Below.