USDQ – Platinum QDAO StableCoins Hello, Friends!
Now I’m here again to let you know about a project that may be of interest to anyone who is in the cryptocurrency market or wants to join this new financial system. A project that is increasingly gaining attraction and provides a number of enablers for sustainability of the generated stablecoins, such as CDPs (collateralized debt positions), automated price adjustment processes with feedback mechanisms, as well as a system of incentives for external actors. This project is USDQ – Platinum QDAO StableCoins. However I emphasize that any doubt is just to click on the mentioned links to look for more references.
What is USDQ?
USDQ is a platform that makes assets stable and truly decentralized. USDQ is one of its kind ERC-20 decentralized stable asset.
At the Q DAO Platform, users can generate various stablecoins, currently USDQ and KRWQ are available. USDQ uses Bitcoin as its collateral, i.e. in order to create USDQ users need to lock up their Bitcoins in a smart contract. The stablecoin’s price is pegged to United States Dollar. Stablecoins are seen as an important enabler, paving the path toward mass adoption of DLT-powered digital currencies. In contrast to other stablecoins on the market, USDQ is fully decentralized with all of its components residing on top of the blockchain. The KRWQ (and other stablecoins, planned to be launched in the future) act in the similar way, but are pegged to their specific fiats (KRW for KRWQ). In order to simplify the description, we are referring below only to USDQ, but the reader should understand that the same always applies to all other stablecoins, such as currently available (KRWQ) and planned (CNYQ, JPYQ and others).
Any person can purchase and sell USDQ via exchanges, brokers or OTC deals. It’s an ERC20 token and brings a convenient ease of transfer without any limitations of any kind. USDQ holders can earn additional profits, receiving the Savings Rate, accruing on their holdings
Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities. The cryptocurrencies that are increasingly gaining attraction — are much more fixed than normal cryptocurrencies. This is because their values are pegged to other assets such as the US dollar or gold.
The stablecoins (USDQ, KRWQ and others) can be generated by any person who has Bitcoins at their disposal. Subsequently, these ERC-20 tokens can easily fulfill a wide range of functions, acting similar to other cryptocurrencies. Among the biggest use cases are cross-border value transfers, payments for goods and services to accepting businesses, as well as long-term savings. Additionally, the stablecoin generation system sets the foundation for a highly convenient and robust margin trading platform.
Ways of Getting USDQ
The first one is via the OTC desk. It takes more time, but it’s much more profitable, as they are sold with a discount there. All tokens bought via the desk, get frozen for a certain period of time but with its own bonuses.
Another way to buy them is to go to Hotbit or BTC-Alpha since they have listed Q DAO recently. By making a purchase on the exchange, you don’t have to deal with lock-ups, and you can start trading tokens immediately, but you have to pay the full price.
And finally, you can participate in the Q DAO IEO conducted on BTCNEXT. The first round is already completed and the second round started on the 1st July of 2019.
Price Stability Solutions
The Target Price for USDQ means the price, used to determine the value of the Collateral Assets, repayable to USDQ holders upon an Emergency Shutdown. USDQ features a soft peg to USD, meaning that a 1:1 peg is maintained most of time but some deviations might occur on occasion. The Target Price for 1 USDQ is 1 USD.
See below example of how the Price is balancing
A quick review video on the QDAO Stablecoin Ecosystem
The Brains behind this Unique Project
QDAO have ambitious goals which will enable them to set new standards for the Market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project. Team includes blockchain developers, data scientists, mobile ops, backend/frontend developers, marketing experts, engineers & operations professionals working smart for this wonderful project.
In Conclusion, the company’s mission is to make people’s lives better and facilitate economic growth by developing cutting-edge products that provide trustworthy, safe, and seamless access to any virtual assets.
You can visit the site for latest updates about USDQ, KRWQ and JPYQ. Join the official English, Japanese or Korean Telegram chat and get regular updates on events and development. Join the official Line or official Kakao Talk to ask questions in Japanese and Korean directly to the Platinum Q DAO management team. And also follow the below Useful Links:
ONE PAGER: https://usdq.platinum.fund/onepager
author : suyati66
eth : 0x07C6F0a2dAC7c65336187aE356f1A7da302e3c50