OrderNChaos(ONC) is a twin system of algorithmic stable coins which borrows the idea of Nirvana on the Solana network. ONC protocol is currently on the Avalanche network. ONC produces the $CHAOS token: an algorithmic metastable token that serves as a store of wealth. And it produces the $ORDER token: a decentralized superstable store of value.
The $ORDER token is called "superstable" owing to how it delegates its peg to standard stablecoins. $ORDER is a "higher-order" class of stablecoin, which maintains its peg through the diversified basket of reserve stables. Each individual stablecoin has some jitter to its price, but since $ORDER diversifies its exposure to many individual stablecoins, its own value is smoothed out and made durable.
The native store of wealth produced by ONC is the $CHAOS token. It is a partially collateralized, volatile metastable token. The price of $CHAOS is limited by a rising floor, backed by a diversified basket of stablecoins. The effect is that $CHAOS can trade above the floor, but can never trade beneath the floor. It has limited downside, but unlimited upside.
When users stake their $CHAOS, they are locking an asset with intrinsic value in the protocol. $CHAOS does not just have a market value at a current spot price, but it has an intrinsic floor-price value that is fully backed by a diverse reserve of stablecoins.
This locked $CHAOS can be used as collateral for zero-liquidation risk loans. After locking $CHAOS, a loan of $ORDER may be taken out against that $CHAOS as collateral, equal to the floor price of the locked $CHAOS.
This ability to take out $ORDER against staked $CHAOS unlocks the capital from the $CHAOS investment. The $CHAOS remains locked, accruing yield, but the owner of the $CHAOS is returned a portion of their capital.
