USDQ is a next-generation staple coin that holds the value of the coin in US dollars
USDQ is a next-generation staple coin that holds the value of the coin in US dollars
It is currently listed on the BTCNEXT, BTC-ALPHA and Hotbit exchanges and is listed on the coin market cap.
The project was headed by Howard H. Kim, a panel chief evangelist and strategy advisor to Platinum Q DAO Engineering. He has worked in Singapore to connect dozens of start-ups with the Asian investment community and helped build effective relationships.
The USDQ Stable coin is a cryptic currency with a fixed value for nominal currencies, such as 1USD, and USDQ is set at 1USD.
The USDQ is a fully decentralized staple coin, with a mortgage cryptography that backs the bit coin (BTC) value on behalf of the central agency with the dollar, such as the Tether (USDT). Because there is no physical currency to support the USDQ, it is free from government taxes, manual manipulation errors and fraud. USDQ will be backed by the top 10 cipher suites.
According to the Platinum Q DAO, creating the USDQ is a complex task that exponentially increases the complexity of the process of keeping the value of the staple coin at 1USD. The first step in USDQ generation is the creation of Collateralized Debt Contract (CDC) and USDQ.
In order to streamline the USDQ production process, Platinum Q DAO Engineering plans to develop an app that produces USDQ through the user’s bit coin possession. Stable coins can be created, consumed, and traded very easily, and if a wallet is connected to an app, CDC can be produced more efficiently than before.
Platinum Q DAO Engineering plans to use the basic incentives to keep the USDQ’s price close to the value of 1USD possible. Price fluctuations are proportional to the generation and incineration of the USDQ, and the higher and lower the value, the more stable coins are generated and incinerated so that the value can be maintained in a balanced and consistent manner.
As a result, bit coin holders can generate staple coins at a rate of 1 USD, so they benefit from the rise in the price of USDQ and can sell Stable coins at a price higher than 1 USD.
According to the project team, the USDQ is a digital cryptography, but it functions to maintain its own security and defend itself. This is possible with two defense mechanisms.
The first mechanism is based on a smart contract defense mechanism that stabilizes USDQ’s price volatility against the US dollar. However, if the bit coin price fluctuates dramatically, a second defense mechanism is implemented. All owners of Q DAO tokens that own the node will create more administrative tokens and sell them in a secondary market that can lead to USDQ’s restructuring.
Through this mechanism, the value of the USDQ Stable coin can be closely linked to the US dollar. Also, the owner of the Q DAO token can be compensated by participating in the stabilization of the USDQ price.
In particular, the value of the Q DAO is linked to the use of the USDQ Stable Table Coin. The higher the USDQ usage, the greater the value of the Q DAO token.
Homepage: https://usdq.platinum.fund/Telegram Community: https://t.me/Platinumq
Cacao Community: https://open.kakao.com/o/gfFhY2mb
Published at Mon, 22 Jul 2019 17:02:38 +0000
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