USDQ is designed to give everyone comfort

What is USDQ coin?

USDQ is a greenback mounted strong cryptocurrency, frequently used for functions outdoor of the blockchain investment idea. Saving, payments, hedging are a few of the examples the place USDQ could be well used. USDQ remains at all times internal the blockchain chain but additionally adds the steadiness that different cryptocurrencies lack.

The concept of a strong coin could be very simple, it’s a cryptocurrency whose rate (or value) is identical to real-world currency. Unlike different cash (BTC or ETH), this strong coin volatility hopes to stay identical to zero.

The most noted instance of a strong coin is Tether USDT. This is foreign money issued with the aid of means of the Omni Layer Protocol on Bitcoin’s blockchain. Its worth relies on the greenback reserves that the Tether Limited enterprise has on its financial institution accounts. The coin is centralized simply with the aid of using the fact they're the basic ones that may challenge extra coins. Using tether, trades can maneuver extra positive their salary without really utilizing dollars. Current cryptocurrencies are very risky whilst it involves utilizing them as collateral or cost method as a result of their volatility. Stablecoins use consists of the mitigation of market danger of crypto-assets to steer clear of vast fluctuations in value.

This cash also advantages exchanges as it opens the door to fiat worth buying and selling without having to really use any fiat or test customers for fiat trading.

The Platinum Engineering crew released and constructed a decentralized, inspectable and totally obvious strong coin ecosystem that works as a honest bitcoin-backed foreign money (other  ideal 10 cryptocurrencies might be extra in a close to future) and a extra safe solution to different strong crypto tasks like Tether`s USDT, Gemini`s GUSD, Circle`s USDC, True TUSD, Bitshares’ BitUSD and the like . USDQ is the moment decentralized stable coin first – is MAKER DAO`s DAI that runs at the Ethereum blockchain and these days accepts Bitcoin as collateral, plans are that different ideal 10 cryptocurrencies might be extra soon.

A very main area of the strong coin ecosystem is a Q DAO token. While USDQ is basically used for crypto-backed loans, financial savings and payment, Q DAO utility token also work as governance token and as a recapitalization token to the ecosystem itself.

Both tokens have been created with the aid of means of the PLATINUM ENGINEERING crew but they aren't the issuers of such coins, the ecosystem’s absolutely decentralized governance gives the customers complete manage over the token issuance.

How the USDQ Stable Coin Works?

First, the idea of pooling cryptocurrencies, in this case, BTC, is the 1st step toward realizing how the Q DAO ecosystem works. Users that desire to have USDQ stable coins will first pool and reserve their cryptocurrencies first so that USDQ are issued. So, by means of way of definition, no USDQ could be issued without it being collateralized and backed in the direction of present crypto.

The complete Q DAO ecosystem is run by means of way of a wise contract. The contract determines if at any level is essential to liquidate BTC reserves it's going to do it to stabilize the USDQ token at precisely $1 always. The actions were taken by means of way of the wise contract gadget also are observed by means of way of the network of Q DAO token holders. The important governance token for the Q DAO and the USDQ frameworks.

USDQ is an ERC20 token and could be kept on any ERC20-compatible wallet, like MyEtherWallet or Mist.  Users can now commerce USDQ and Q DAO on, a commonplace crypto exchange. It’s convenient that each one buying and selling pairs at will probably be indexed with USDQ because of the foundation currency.

Why we're utilizing BTC as collateral?
  • Bitcoin is the most liquid virtual asset
  • we've many chums who're large Bitcoin holders (BTC whales) or Bitcoin OTC traders.

We wish in spite of these large guys like Jihan Wu (Jihan is considered one of the co-founders of Bitmain, the world’s greatest crypto mining company) will leap to make use of Q DAO. they have much of Bitcoins, but they don’t desire to promote it.

So in the event that they want price range – they will pawn their bitcoins to Q DAO and within the present day get USDQ.

Why we constructed Q DAO primarily founded on Ethereum sensible contracts, but no longer Tron by Justin Sun and never EOS by way of Daniel Larimer?

Our genius engineers are love Ethereum as a consequence of mass adoption of this blockchain, also we respect the technique of Vitalik Buterin (we met him a couple of times). Maybe within the future, we're able to imagine utilizing TRON or EOS, in case their foundations can offer sufficient price range to continue with the development.

USDQ Performance Against Crypto Volatility

The following eventualities were run and analyzed to predict the performance of USDQ and the way it should react alongside with its complete framework and safety protections. Can the USDQ cling its peg? Let’s discover out.

Let’s think of how USDQ would act if it was round before. For this, we can study the rate of BTC which had aid in rate toward the final quarter of 2018 and the start of 2019.
  1. Looking at the start of November by way of mid-December we first discover the BTC rate shedding from approximately $6300 to around $3200 or decrease in a few exchanges.
  2. At this time what would occur is that the collateralized positions, recognized as CDCs will auto-liquidate. This simply potential they're speedily offered to the optimum bidder on inner auctions accessible to Q DAO token holders. Logically the offer of USDQ would see a reduction.
  3. What would occur subsequent is that sufficient call for USDQ will surge to switch into upper than the supply. Making the USDQ rate in all likelihood range above its aim rate of $1.
  4. Q DAO token holders can use their stake to increase extra cryptos to create USDQ strong cash and recuperate the supply. The token holders might carry out a vote to switch anything referred to as the stabilization rate that's the pastime charged to the CDCs. In short, this can be an try to make it cheaper to create CDCs and extra USDQ.
  5. And voila! The rate of USDQ would return to its $1 peg.
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