📈$CASH as an Indexcoin

$CASH is not a yield-bearing stablecoin (YBS), but a yield-bearing stable indexcoin. This identifier was chosen deliberately for two reasons:

1.) $CASH does not maintain its own peg, but rather derives its peg from and index of the underlying collateral (essentially the weighted average price of the $CASH Treasury's USDC/USDT/DAI reserves)

2.) $CASH yields according to an index (called the Capital Efficiency Index or CEI) that can be calculated as follows:

• (trailing 7d $ yields from OC Treasury + 7d $ yields from $CASH Treasury) / 7d $ yields from $CASH Treasury

For example:

$$ value of yields from OC Treasury given to $CASH holders over 7 days - $1,500

$$ value of yields from $CASH Treasury given to $CASH holders over 7 days - $900

Capital Efficiency Index = 2.67x

This means that each $CASH token is yielding at 2.67x the rate that it would be yielding with the collateral alone.

The CEI is useful to gauge how efficiently each $CASH token is yielding above what a stablecoin can typically yield in conservative farming strategies.

This is the power of $CASH - the yields of riskier or volatile assets with the security of "traditional" stablecoins in conservative farming strategies.