KRW*

한국어로 읽기 KRW* (KRW Star) is a crypto-backed stablecoin that targets a price of one Korean won. You can mint it against supported collateral, or get it by swapping another asset in a supported market. Its market price can differ from that target.

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Borrow against your assets

If you want to keep exposure to an asset such as ETH or BTC and need funds for another trade, you can use a supported asset as collateral to borrow KRW*. If your collateral’s value falls too far relative to your debt, your position may be liquidated.

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Hold dollar assets with won-denominated debt

Borrowing KRW* against a dollar asset creates won-denominated debt. Exchange-rate changes affect the dollars needed to repay it, even if you owe the same amount of KRW*. How to use KRW* includes an exchange-rate example and explains what to consider when using yield-bearing dollar assets as collateral.

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Set your borrowing rate

You choose both the amount to borrow and your annual interest rate. A lower rate reduces your interest costs but can move your position closer to the front of the redemption queue. If your position is redeemed, both your debt and your collateral decrease. You may then hold less of the asset you intended to keep.