Introducing Tabs

Sound Stablecoins

Tabs are sound, sound stablecoins that are soft-pegged to national currencies worldwide. At launch, there will be 155 different national currencies available through the protocol, such as sound USD (ⓢUSD), sound GBP (ⓢGBP), and sound ARS (ⓢARS).

Tabs are anchored to Bitcoin, the new gold of the digital era, embodying Bitcoin's core principles of fairness, decentralization, permission-lessness, and resistance to censorship.

Key Features of Tabs

• Fully decentralized: Tabs are created by the community without any central authority. You have full control over your Bitcoin reserves and minted Tabs, maintaining your financial independence.

• Enhanced usability: Built on the Arbitrum network, Tabs offer fast transaction speeds and low fees, making them practical for everyday use.

• Community governed: ShiftCTRL relies on decentralized decision-making. The community oversees the Tab protocol, ensuring it evolves with transparency and shared ownership.

Existing stablecoins

In 2023, stablecoins facilitated over $12 trillion in transactions on the blockchain, showing their immense utility. However, most stablecoin systems are centralized and use fiat currencies or government securities as reserves. This means they are essentially just crypto versions of government-issued money.

These stablecoins don't solve the problem of inflation; in fact, they make it worse. The fiat reserves held by stablecoin operators increase the money supply through fractional or zero-reserve banking, inflating the currency both in traditional and cryptocurrency forms.

Additionally, there are custodial risks because the collateral for these stablecoins is held in bank accounts that can be prone censorship. They also depend heavily on the current banking system and are subject to changing regulations in different countries.