Yield for everyone

Firma (FIRMA) is a stablecoin protocol built on the eCash network. It is instantly convertible to $1 of XEC.

Firma is over-collateralized. An initial mint quantity of 125,000 was created backed by an eCash avalanche staking node with 5 billion XEC staked at $0.000025 on Feb 19, 2025. Half of the initial supply was burned so that Firma would remain over 100% collateralized even if XEC price falls 50%. eCash staking rewards supply the yield for this initial quantity. Every day, earned staking rewards are converted to stablecoins that back newly-minted Firma. The XEC used to buy every FIRMA sold is converted to a basket of stablecoins.

Firma held by the mint address is burned to keep Firma over-collateralized. All Firma sold by the mint address is backed by dollars. Only the initial supply at the mint address is backed by XEC.

The initial supply of Firma was equivalent to the USD value of XEC held by an eCash staking node. The staking rewards of this node provide daily rewards to Firma holders. Firma is collateralized by a basket of stablecoins. So, while Firma is over-collateralized, the yield will vary with the price of XEC and the supply of Firma.

All user-held FIRMA is backed by dollars. All minter-held FIRMA is backed by a staked XEC position with a USD value exceeding the minter-held supply. Firma is always redeemable for $1 of XEC.

Firma is a protocol and not an investment. The token allows holders to earn protocol revenue that would be illiquid on high-fee blockchains. Today, yield comes from staking XEC. When enough FIRMA is held by users, yield will be generated by AMM liquidity on stablecoin pairs. Firma will have the same price risk as the stablecoins held by the protocol. This risk is mitigated by Firma's over-collateralization.

Firma is available exclusively on the eCash network. High protocol fees make daily yield payments impractical on other networks. USDT and USDC on the Solana network can be converted to Firma.

You can buy Firma on the Cashtab Agora marketplace. You can also convert USDT or USDC to Firma.

You can always sell Firma for $1 worth of XEC. Use the 'Redeem Firma' option in Cashtab. Sell orders created at the bid price are fulfilled automatically.

The minter sells Firma less than 1% above XECUSDT spot. This is to manage volatility in exchanging to and from XEC. USDT or USDC can be converted to Firma 1:1. Firma can always be redeemed for $1 of XEC.

Yes, a Firma transaction is as secure as an eCash transaction. Firma is over-collateralized to ensure price stability.

We recommend using Cashtab for storing and transacting with Firma, but any eCash wallet that supports tokens will work.