FIAT is an Ethereum-based decentralized finance protocol that allows users to access leverage and secondary liquidity against their fixed income asset positions. Assets from supported fixed income asset protocols can be provided as collateral to mint $FIAT. $FIAT can be used to pay off users' debt positions as well as claim the cheapest-to-deliver assets in the protocol. FIAT DAO is the digital cooperative stewarding its development. FIAT DAO Token holders are able to cast votes and earn rewards at this time. Upon protocol launch, FDT will serve to manage risk parameters within the FIAT protocol.