HTC. CASH - THE FIRST ALGORITHM STABLECOIN PAGGED TO HT ON HECO CHAIN

PREAMBLE

Despite the insurgence of Coronavirus, crypto investment has flourished. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

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With that being said, HTC.CASH is built on the HECO chain ecosystem which has lower fees and faster transaction proc

As depicted above and as indicated on the official website of HTC.CASH, HT ANCHOR CASH or for short as HTC.CASH is a stablecoin pegged to HT which is built on the Heco Chain and based on an algorithmic mechanism that makes the price stable. HTC.CASH builds on the demand for transactions in the HECO ecosystem. Because it is well known that the Huobi Ecological Chain (HECO) ecosystem has developed quite significantly in recent times so that stablecoins such as HTC, CASH are needed to meet the growing demand for transactions.

HTC.CASH is built on the HECO chain ecosystem which has lower fees and faster transaction processing compared to Ethereum. And the reason HTC.CASH is not pegged to USD dollars or GOLD is that it will depreciate with the inflation of anchors so that HTC.CASH is pegged to HT tokens because the amount of HT is constant and without devaluation problems, and several other reasons that make HTC.CASH better to be pegged to HT token.

The price feeding mechanism is based on the 12-hour weighted average price of the HT-HTC trading pair on the decentralized exchange to reduce the risk of price manipulation;

The time of Rebase is adjusted to once every 12 hours, at 8:00 and 20:00 SGT respectively;

The additional issuance number of tokens for each rebase period is adjusted to: 95% of the total distribution of each rebase, and the other 5% goes to the treasury instead of the original 100% on Basis Protocol. The adjustment here can make the treasury more profitable and compulsorily redeem HTB Bonds, when the price of HTC is lower than 1 HT, it will better encourage users to exchange bonds and maintain balance.

The transaction price of stablecoins within a certain minting time reaches 1.1 HT (not the original 1.05), and additional issuance will be carried out to strengthen the stability of the additional issuance rate;

Extend stablecoin mining time, support more HRC20 currency mining, and strengthen consensus.

About The HTC.CASH Stabilization Mechanism

HTC.CASH has a mechanism that will make the price of HTC.CASH stable.

Following are the mechanisms that will be triggered when the price of HTC.CASH changes;

When HTC is traded below 1 HT, users can buy HTB at a certain discount to stabilize the HTC price. Later users can expect future profits upon redemption.

When HTC is traded exceeds 1.1 HT, the bond redemptions will be triggered. If HTC's price continues to exceed 1.1 HT even after the bond redemptions, then HTC will be minted to drop the price.

HT ANCHOR CASH protocol launches 3 types of tokens that have their respective roles. First is the HTC (HT ANCHOR CASH) which is the main token of the HTC.CASH protocol. The second is HTS (HT ANCHOR CASH Share) which users can get by providing liquidity to the pool and this can also be used by users for staking. And the third is the HTB (HT ANCHOR CASH Bond) bond which will be issued when the coin price is below 1 HT and when the HTC price passes 1.1 HT, HTB token holders can exchange HTC back at a ratio of 1: 1.

Token distribution plan

HTC has no pre-mining, it is fair distribution

HT ANCHOR CASH launches 11 initial mining pools, users can stake HT, HUSD, HBTC, HETH, HLTC, HBCH, HDOT, HBSV, HFIL, DEX token RAB and algorithmic stable token BAG, a total of 11 HRC-20 assets to participate in HTC mining.

The total supply of HTC is 11,000. As a reward, it is fairly distributed to each mining pool. Each mining pool can mine 1,000 HTC for 10 days, and each mining pool produces 100 HTC per day.

HTS distribution will begin immediately after HTC starts to distribute, totaling 2,480,001, of which 9% will be allocated to DAO and development team, 11% will be allocated to early investors, 4% will be used for marketing and centralized exchange listing, this part will be unlocked in proportion to the mining output, no pre-mining. 1 HTS as the initial liquidity will be added to the liquidity pool on DEX, 2 million HTS are mined and distributed to 4 mining pools:

HTC-HT-LP mining pool: 750,000 HTS

HTS-HT-LP mining pool: 250,000 HTS

HTC-HUSD-LP mining pool: 750,000 HTS

HTS-HUSD-LP mining pool: 250,000 HTS

RoadMap

2017-12

Started the TokenPocket project

2018-06

The first to support EOS, leading EOS DApp to flourish

2018-08

Get investment from Huobi, Hofan,CollinStar Capital, etc. investment institutions

2019-01

Supports BOS chain and cross-chain exchange

2019-04

Full support the IOST and ETH DApps.Being the NO.1 wallet with over 10 millions on-chain related transactions.

2019-08

Supports TRON and Binance chain. Launched the official staking pool

2019-10

Supported BTC, and enabled convenient custom UTXO operation

2019-11

Launched the smooth Gas mode to solve the "0 CPU" challenge faced by EOS users

2019-12

Original article Mini Blockchain White Paper gained more than one million page views, making it the most popular blockchain wallet guide;

2020-05

Launched a centralized wallet, integrating the functions of a centralized wallet and a decentralized wallet

2020-07

Launched HD wallet Issued ERC-20 TPT and listed it on Uniswap, with a highest increase rate of 600%

2020-08

Officially announced to incubate the Decentralized Synthetic Asset Protocol--Organix project

2020-09

Support Binance Smart Chain (BSC). Launched Uniswap and JustSwap Defi channel

2020-11

Launched ETH 2.0 Staking service

2020-12

Support Huobi Ecological Chain (HECO), Polkadot and Kusama

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

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Github: https://github.com/HT-ANCHOR-CASH