ImmutaBucks

ImmutaBucks, hereafter referred to as IBUX, are the stable ERC721 tokens that are used as an intermediary for the ImmutaSwap cryptocurrency (ERC20) exchange process. IBUX are minted by ImmutaSwap in denominations of 5, 10, 20, 50, & 100, and are meant to represent the same value in USDC tokens. Each IBUX contains a “usdc_value” meta tag used to represent its underlying value.

It is important to note that IBUX are considered “stable” since the total face value (in USDC) of all circulating IBUX is asset-backed and kept in a cold storage vault by ImmutaSwap. ImmutaSwap believes that keeping IBUX stable is important in order to build and maintain the trust of our community. As such, ImmutaSwap will buy back IBUX, for face value, from any holder wishing sell it, less the standard exchange fees outlined in the fees section.