PCT - Permissionless

PCT is a permissionless yield token backed by RWA that is always collateralized 1:1 by sPCT (1 PCT is equal to $1 USD of sPCT assets). Users can mint PCT by supplying stablecoins if there is sPCT available to be collateralized.

Minting PCT allows holders to benefit from on-chain yield paid from sPCT assets. PCT undergoes a regular rebasing process based on the loan borrow rate. Therefore, users who hold PCT will benefit from the rebasing process.