DescriptionUSDK is the USD-pegged, overcollateralized and native stablecoin on Swellchain. Issued by Orki Finance and backed by LST/LRT-based assets like swETH and rswETH
Category:crypto-backed
Minting and RedemptionUSDK maintains its $1 peg through a market-driven mechanism where borrowers adjust interest rates in response to price fluctuations, and arbitrageurs engage in redemptions when USDK trades below $1. USDK can be redeemed at face value for its underlying collateral, ensuring liquidity and price stability
Orki USD (USDK)