How it works

Yield generated by vault deposits is regularly harvested and swept into the CHFRY’s Oven. This gradually converts user-staked fUSD in the Oven into the underlying stablecoin basket.

Users can burn staked fUSD according to how much has been converted into stablecoins. This ensures convergence between fUSD and the stablecoin basket, through the former being a bond that eventually matures into the latter.

Any user’s staked fUSD in Oven, if already overfilled, can be force-converted, and the surplus collected by the force-converter, or spread across all other fUSD stakers if the force-converter is not currently staking fUSD.