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Honzon Protocol
Honzon Protocol is a stablecoin issuance protocol on Acala that enables users to deposit crypto assets as collateral to open collateralized debt positions and borrow aSEED stablecoins. The protocol uses an automatic risk management algorithm, on-chain governance, and an auction mechanism to maintain collateral ratios and manage liquidations. Supported collateral types include DOT, LDOT, and other cross-chain assets.
Category: Stablecoin Issuer
TVL: $2M