$SETH is the $ETH pegged stablecoins on Arbitrum issued by Ripae Finance which is a cross chain algorithmic stablecoin protocol.
Ripae Finance, an multichain algorithmic stable coin currently pegged to the value of 1 $FTM, AVAX, BNB, MATIC, CRO, ETH through the use of Multichain and bridged assets. An Algorithmic Stable Coin (ASC) is a non-collateralized stablecoin tailored for improving price stability. The beauty of algorithmic stable coins is that they are much more capital efficient than their collateralized cousins. Ripae finance will with its experienced teamwork towards expanding this idea of capital-efficient algorithmic stable coin and build on previous iterations to expand the basis of the ecosystem.
