Rupiah Token (IDRT), a stablecoin backed by fiat Indonesian Rupiah, is pleased to announce its listing on SushiSwap. Starting from now, IDRT is available for trading on SushiSwap You can now trade your IDRT to many other ERC20 tokens available on SushiSwap easily by connecting your web crypto wallet (such as Metamask & Coinbase Wallet) to the platform.
We are glad to announce this great milestone as SushiSwap is a decentralized exchange (DEX) that is increasingly becoming a popular tool among cryptocurrency users to enter the Decentralized Finance (DeFi) ecosystem. SushiSwap offers a few core products within SushiSwap’s ecosystem such as SushiSwap Exchange, Liquidity Pool, and SushiBar Staking.
The innovative platform provides users access to a liquid market for a wide selection of cryptocurrencies and financial access for the users, with the IDRT being the newest fiat-backed stablecoin offered to its users.
Without a doubt, this IDRT listing is in line with our mission to give access to Indonesian crypto traders to access global liquidity in the leading crypto exchanges & DeFi ecosystem as well as give them better access for IDRT on/off ramps to fiat.
About Decentralized Finance (DeFi)
Decentralized Finance is a general term for various projects that aims to replicate traditional finance capabilities on the blockchain in a decentralized manner by leveraging smart contract technology. The goal of DeFi is to grant everyone around the world access to alternative financial solutions (such as borrowing/lending) without needing to go through banks or traditional financial institutions. Think of DeFi as financial services that are transparent, permissionless, and global.As of the time of writing, most of the DeFi applications are built on top of Ethereum blockchain. Most DeFi projects have an associated token (called “governance token”) that grants token holders special rights, such as voting on protocol upgrades/settings and receiving a portion of fees that the project generates.
SushiSwap is an automated market maker (AMM) decentralized exchange (DEX) that is growing rapidly. Through the AMM, the automated trading liquidity is set up between any two cryptocurrency assets. As one of the growing number of decentralized finance (DeFi) platforms that are on Ethereum blockchain, SushiSwap is trying to reduce the risk of depositing funds in smart contracts. With smart contracts, SushiSwap allows users to lock on the software that can then be accessed by traders.
SushiSwap’s design helps to alleviate centralization in the market. Users trade directly with liquidity pools and via non-custodial wallets. Consequently, SushiSwap is less likely to get hacked and provides users with more flexibility in terms of coin selection. Keenly, SushiSwap was designed to give the users more control over the AMM and its future developments when compared to the competition.
Based on data 14 April 2021, SushiSwap has $4,36 Billion liquidity with over 900 pairs. Rupiah Token is glad to have IDRT listed on SushiSwap network. To learn more about SushiSwap you can visit https://docs.sushi.com/
About Rupiah Token (IDRT)
Rupiah Token (IDRT) is a stablecoin that is backed 1:1 by fiat Indonesian Rupiah. IDRT is available on multiple blockchain namely Ethereum (ERC-20), Binance Chain (BEP-2), and Luniverse chain. We are the first and most adopted Rupiah stablecoin in Indonesia. The way Rupiah Token works, in a nutshell, is that our user can simply deposit 1 Rupiah Token for 1 fiat Rupiah and withdraw the Rupiah Token back to fiat Indonesian Rupiah at any time via our platform (https://rupiahtoken.com/) or via mobile wallet app (https://Pintu.co.id) We can always guarantee that the Rupiah Token is backed by fiat Indonesian Rupiah in our bank account and we are regularly audited by an independent auditor to prove such collateralization.
How to Trade IDRT on SushiSwap:
To use IDRT on SushiSwap, you will first need to acquire some ETH for the gas fee and the IDRT token itself. There are many ways to go about this, but the most popular is via a fiat on-ramp. First, you will need to head over to a centralized exchange that supports fiat currency such as Pintu. Fiat on-ramps will require that you provide ID and other details to allow you in depositing fiat & purchasing the crypto. Once you’re registered, you can fund your account with fiat currency and convert it over to ETH and IDRT. You can now send the ETH and IDRT to your non-custodial wallet (that supports SushiSwap). Now you’re ready for some SushiSwap:
1. Open SushiSwap on https://exchange.sushi.com/#/swap
2. Connect your wallet to SushiSwap
3. Choose IDRT
And that’s how you use SushiSwap to swap any token from and to IDRT!