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About STAR
STAR is the stable coin used within Preon, and is an integral component of the Sphere Ecosystem. STAR is designed to be an over collateralized stable coin backed by its crypto collateral and incorporates a stability pool as a front-line defense of liquidations.
STAR loans are secured by always having more value locked than the amount of debt given out. STAR, in conjunction with Preon, will also allow for 0% lending opportunities. Loans are created by submitting collateral in the form of crypto assets, and receive STAR, ensuring stability and flexibility in your borrowing.
STAR can be used in many different ways including deposited into the stability pool. Once the user has made a full repayment of their STAR loan, they can retrieve 100% of their collateralized assets without incurring any interest charges, closing fees, or hidden penalties.