> ## Documentation Index
> Fetch the complete documentation index at: https://docs.monolith.market/llms.txt
> Use this file to discover all available pages before exploring further.

# Why Monolith

> Understanding the problems Monolith solves and what makes it different

## Problems

* **Stablecoins are getting worse**: Stablecoins have deviated from the ethos of Ethereum: permissionlessness, censorship resistance, transparency and trustlessness. Monolith is designed in the image of Ethereum.

* **Stablecoins are hard**: Deploying a stablecoin should be as simple as deploying a Uniswap pair or Morpho pool.

* **Stablecoins are risky**: Stablecoins have become too risky: custodian risk, freezing risk, bank insolvency risk, governance risk. An ultra low-risk alternative is needed.

## Why Monolith is different

<Frame>
  <div style={{ display: 'grid', gridTemplateColumns: 'repeat(auto-fit, minmax(250px, 1fr))', gap: '1rem', margin: '2rem 0' }}>
    <div style={{ padding: '1.5rem', border: '1px solid #e5e7eb', borderRadius: '0.5rem', textAlign: 'left' }}>
      <Icon icon="users" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Permissionless Deployment</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>Anyone can deploy a Monolith stablecoin on any supported chain without permission in few minutes.</p>
    </div>

    <div style={{ padding: '1.5rem', border: '1px solid #e5e7eb', borderRadius: '0.5rem', textAlign: 'left' }}>
      <Icon icon="money-bill-transfer" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Redeemable</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>All Monolith stablecoins are redeemable for their underlying collateral.</p>
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    <div style={{ padding: '1.5rem', border: '1px solid #e5e7eb', borderRadius: '0.5rem', textAlign: 'left' }}>
      <Icon icon="user-shield" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Redemption Protection</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>Borrowers may avoid redemptions by paying a variable borrow rate.</p>
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      <Icon icon="money-bill-wave" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Interest-Free Loans</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>Borrowers may avoid paying interest by allowing their loans to be redeemed.</p>
    </div>

    <div style={{ padding: '1.5rem', border: '1px solid #e5e7eb', borderRadius: '0.5rem', textAlign: 'left' }}>
      <Icon icon="money-bill-1" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Peg Stability Module</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>A temporary PSM may use an existing stablecoin to bootstrap supply.</p>
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    <div style={{ padding: '1.5rem', border: '1px solid #e5e7eb', borderRadius: '0.5rem', textAlign: 'left' }}>
      <Icon icon="hourglass" size={32} />

      <h3 style={{ margin: '0.5rem 0 0.5rem 0', fontSize: '1.125rem', fontWeight: '600' }}>Immutability deadline</h3>
      <p style={{ margin: 0, color: '#6b7280' }}>All Monolith stablecoins either start immutable or become immutable within four years.</p>
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## Our Vision

Monolith aims to democratize access to decentralized stablecoins:

* **Low barrier to entry**: A user-friendly interface for creating a stablecoin in minutes.
* **Sound Economics**: A carefully-designed stablecoin protocol that maintains the peg no matter what.
* **Discoverability**: A list of user-created stablecoins for lenders and borrowers to find new opportunities.
* **Immutability**: Stability requires certainty. Immutability protects stablecoin users from human mistakes.