3 Coffin Tokens
Coffin Finance is an algorithmic, decentralized, and partially collateralized stable token protocol on Fantom Opera. The mechanism is inspired by Frax Finance and previous version of Iron Finance. But there are some differences.
Most different parts are burning mechanism and are using FTM as collateral, instead of fiat-backed collateral, the USDC. We avoid using centralized tokens as collateral, to aim and create true decentralized stable token.
Since V2, the protocol is using DAI as collateral as well as FTM.

Coffin Token (COFFIN)

The protocol will mint COFFIN and distribute it proportionally to Coffin token holders who stake their LP/tokens in the farm. This is not a governance token. The total planned emission of COFFIN token from farm is 100,000,000 COFFIN. The redeem function can mint additionally when users request redemptions. So, technically there is no limit.
As we understand, this evasion of the total supply limit is the same with Iron Finance. However, it is not only the inflation aspect, but, we also prepare the following deflation mechanism.
This token is designed to inflate or deflate depending on the price of CoUSD.
When the CoUSD price is below the peg, COFFIN transfer is TAXABLE. The rates depend on how the price is far from the peg. It means, the token has a deflation aspect.
When the CoUSD price is above the peg, it's NOT TAXABLE. Because of the distribution, it'll be inflated.
There are some exceptions in terms of transfer tax for LP-ing, Staking, Withdrawing from our farm.
The burning mechanism increases the collateral ratio and helps COFFIN price goes up. We believe that COFFIN demands helps for CoUSD price stability.
Additionally,On V2, we are start to prepare limitation for Redeem.

Coffin Dollar (CoUSD)

Coffin Dollar (CoUSD) is an algorithmically stable coin designed to stabilize at $1.
It is not a deflation token. The CoUSD is only minted when COFFIN token burns and FTM serves as the collateral. The system tries to adjust the value of one CoUSD which is equivalent to one USD.
To learn collateral ratios for minting / redeeming, please read the following article.

Coffin Governance Token (XCOFFIN)

The XCOFFIN represents a vote of confidence in the value of Coffin Finance and its systemic ability to keep the CoUSD pegged. Please read below pages.
We highly recommend you to Do Your Own Research and never use funds within Coffin Finance that you cannot afford to lose. You won’t be compensated for any losses. All interactions with the associated smart contracts on the Fantom Opera Network and software on Coffin Finance are at your own risk.