Stablecoin

A cryptocurrency designed to maintain a stable value relative to a reference asset, typically the US dollar.

A stablecoin is a digital asset pegged to a stable reference, usually the US dollar. Unlike volatile cryptocurrencies like Bitcoin or Ethereum, stablecoins maintain a 1:1 value with their peg. The three main types are fiat-backed (like USDC, backed by cash reserves), crypto-backed (overcollateralized with other crypto), and algorithmic (using supply/demand mechanisms). Mithril uses USDC, a fiat-backed stablecoin, because agents need predictable costs — a $0.01 API call should always cost $0.01.