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Introduction
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Introduction
A guide for integrators.
This section documents how to integrate system currency tokens (aka "the stablecoin") programmatically. System currencies on the Probity platform are issued by regulated entities and are lent out by the system. Currently the Songbird and XRP Ledger networks are fully supported chains. Trustline is planning to privately issue system currencies backed by 1:1 fiat currency to support institutional use-cases. Since Probity LLC is the governing body of the system, system currency integrators must meet the LLC's requirements by applying for status as an authorized issuer or distributor. Approval of applicants is subject to risk-based due diligence, meaning that businesses who provide sufficient evidence of compliance with local regulatory regimes will be granted access.
Trustline adheres to the Global Digital Finance Code of Conduct and more specifically, Principles for Stablecoin Issuers. We believe that standards are necessary for healthy high-functioning markets to develop. Concerns ranging from pricing and valuation, issuance and redemption, market integrity and risk, disclosures, KYC, and governance are fully addressed through controls of the system or via features already built into the underlying infrastructure.

Trustline is planning on privately issuing tokenized US dollars for use in Probity as a lendable asset. Borrowers can post ERC20 tokens (e.g., ETH, FLR, AVAX) as collateral. Trustline reserves the right to make modifications to the supported collateral assets to comply with potential collateral quality regulations.

Aurei is currently just a proposal, and there are no current plans to launch this currency. It is kept here for historical reasons.
A commodity-backed dollar stablecoin
Aurei (code: AUR, symbol: ₳) is an over-collateralized commodity-backed stablecoin. Every unit of Aurei corresponds to a unit of an underlying asset, such ETH or UPXAU. In some cases, a liquidity coverage ratio (LCR) of 2x or greater is required to ensure that the price of Aurei maintains the peg to the US dollar. Aurei is not yet available for integration.

Phi is currently just a proposal, and there are no current plans to launch this currency. It is kept here for historical reasons.
An inflation-resistant security token
Phi (code: PHI, symbol: Φ) is an experimental interest-bearing security token backed by commercial loans with interest rates targeting a CPI-like (Consumer Price Index) inflation metric. The closest analog to Phi's inflation-resistance are Treasury Inflation-Protected Securities (TIPS). As stated on the TreasuryDirect website, TIPS are "marketable Treasury securities whose principal is adjusted according to changes in the Consumer Price Index. With inflation, the principal increases. With deflation, it decreases." The CPI is generally regarded as a reliable source of inflation data. However, the CPI is a centralized metric and is not always regarded as accurate. A better solution involves a decentralized calculation of the CPI based on third-party algorithms which can be fed into the system as a signal where governors can vote on the weighted-average dollar inflation rate. The market for Phi and the inflation rate voting will settle into an equilibrium, and won't necessarily match the reported CPI figures.
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