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Introducing PHPC by Coins.ph – Swap & Liquidity Pools now available on Stabull DEX

Published On: Nov 27, 2024•By •
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As DeFi evolves and stablecoins for fiat-backed currencies proliferate across blockchains, they are increasingly offering an alternative to traditional forex trading platforms. Despite this growth, non-USD stablecoin swaps still represent less than 1% of the market.

In this article, we explore PHPC, a Philippine Peso-backed stablecoin that is now available on Stabull’s decentralized exchange (DEX).

What is PHPC?

PHPC is a Philippine Peso-backed stablecoin developed by Coins.ph, the largest centralized exchange in the Philippines with over 15 million users. Coins.ph is a BSP-regulated entity and a licensed Virtual Asset Service Provider (VASP) and Electronic Money Issuer (EMI). In June 2024, they launched the PHPC stablecoin, primarily for use on their platform.

To maintain its peg to the Philippine Peso, PHPC tokens are 100% backed by a basket of assets, including cash, time deposits, and short-term money market instruments. This ensures both stability and trust.

Key Features of PHPC

  • Blockchain Compatibility: PHPC is currently available on the Polygon and Ronin blockchains, with plans to expand to Tron in the future.
  • Transparency: Monthly proof-of-reserve reports are published to ensure asset backing and accountability.
  • Regulatory Compliance: PHPC complies with the Philippines’ financial regulations, meeting all legal and compliance standards.
  • Utility: PHPC facilitates remittances and payments within the Philippines and globally. Its blockchain integration improves efficiency, reduces costs, and allows traders to hedge against market volatility without converting to fiat.

PHPC on Stabull DEX

With PHPC now available on Stabull, users can access the currency of 117 million Filipinos, including the estimated 10 million Filipinos living abroad.

The PHPC pool deployed on Stabull is:

Polygon PHPC/USDC Pool: 0x1233003461F654cf1c0d7dB19e753BAdef05A87f

Benefits of the Integration

  1. Seamless Swapping Stabull DEX provides efficient, low-cost swapping between PHPC and USDC, along with other fiat-backed stablecoins like:
    • BRZ (Brazilian Real) by Transfero
    • DAI (US Dollar) by MakerDAO
    • USDT (US Dollar) by Tether
    • TRYB (Turkish Lira) by BiLira
    • EURS (Euro) by Stasis
    • XSDG (Singapore Dollar) by StraitsX
    • NZDS (New Zealand Dollar) by Techemynt
  2. Low Fees and Fast Execution Stabull’s advanced AMM design uses an off-chain PHP/USD oracle to dynamically re-center liquidity, minimizing slippage during swaps. Combined with a low 0.05% swap fee per pool, Stabull offers cost-effective, fast, and trustless transactions.
  3. Liquidity Pools and Earning Opportunities PHPC holders can join liquidity pools on the Polygon network by becoming Liquidity Providers (LPs). By providing liquidity, LPs earn a share of trading fees from PHPC swaps and can participate in liquidity mining programs, making it an attractive opportunity to maximize returns.

Conclusion

The addition of PHPC to Stabull reinforces its mission to offer the widest range of stablecoins in DeFi and enable a 24/7/365 forex market. With PHPC, users can now seamlessly access the Philippine Peso on-chain, opening new possibilities for remittances, trading, and financial inclusion.

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