Can tokens be exchanged 1:1 with their underlying currency?

Can tokens be exchanged 1:1 with their underlying currency?

As our currency-backed stablecoins are interest-bearing, there is no 1:1 exchange rate between a token and its underlying currency.

The difference in exchange rate between buying and selling a currency-backed token reflects the interest accrual over the same period. In other words immediately buying and selling will result in no interest being accrued.

The whitepaper explains the exchange rate model in greater detail.

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