STABLE COIN INTRODUCTION
The world as we know it is changing with people, business organizations, etc., beginning to realize the role of blockchain in the economy. Simply put, Blockchain serves as an ecosystem to different types of cryptocurrencies like Stable coin.
What is Sable coin?
In the past cryptocurrencies have often been characterized by wide fluctuation in their dollar dominated prices. This dissuaded users from using it as a unit of account, store of value, and led some traditional investors to take over an already a complex domain. For this reason, Stable coins were introduced to correct the lapses that other cryptocurrencies failed to address.
Stable coin is believed to solve the problem of wide volatility in fiat currency dominated prices that characterize most crypto tools or instruments. This is done in a way by pegging their worth or value to fixed amounts of traditional monetary tools. The emergence of Stable coins seeks to solve the problem of volatility by mitigating the volatility through a sustained peg with traditional tools or instruments such as US dollar or other currencies. In this post, we shall be looking at a Stable coin called USDQ.
USDQ AS A STABLECOIN
USDQ is a decentralized Stable coin that offers higher steadiness and dependability through the use of algorithms. USDQ coin is highly monitored by high speed AI robots and is fully on chain. This ecosystem offers a dependable security against malicious activities and attacks. USDQ provides a useful solution to the volatility issue which would allow the adoption of cryptocurrencies across societies. The value of USDQ is stable on a dollar dominated basis which makes it more viable as units of account and store of value. The USDQ ecosystem gives users the opportunity to buy USDQ on exchanges which is the number one element of the ecosystem. Buying the USDQ at the exchange is the first possible means which users and investors can get Stable coin. USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance Stable coins. The following include some features of USDQ
The Credit in USDQ
Another vital element of the ecosystem is the process of receiving credit in USDQ through crypto assets collateral. The pledge rate to be released is D%, where D is the last rate produced by Q box which serves as a self-learning network is approved by the holders of the governance token. Thus, this helps in ensuring the stability of the USDQ token.
However, when new crypto assets arrive on the ecosystem, the contract which was created would print new USDQ and then send it to the borrower. When the lender wants to remove the collateral and refund the credit, it goes through the return or refund procedure on the websites at times paying the interest rate for the use of the stable coin credit.
THE Q BOX
This utility helps in the prediction of exchange behavioral rate on the basis of the analysis of news and the currency market. The Q Box network studies in decision making process and also offers qualitative and frequent predictions.
This utility can easily be installed on a mobile device and other computer systems such as tablets, laptop etc. which thereby increases the speed of training. This utility only works when users have crypto assets in pledge. This device does not only predict the pattern of exchange rates but also mines governance tokens QDAO which play a role in managing token interaction with USDQ stable coin.
Q DAO TOKEN AND VOTING PROCESS
Q DAO makes it possible for users to vote and make decisions which influences all ecosystems.
Users of the network will be able to develop themselves on their own pace which will also make their predictions different. At some point, when it is seen that the rate of the asset which is in pledge will fall, user will have to right to vote irrespective of their level of proficiency to stabilize the Stable coin by increasing the pledge rate. Q DAO is also used for payment of commission and it is also traded in the secondary market.
Scanner Service
This service enables all crypto assets to be kept in separate asset control system and private keys from the wallets shall also be stored on a different storage system.
The scanner service also helps to reach transparency of the entire structure. This will allow the users access to view and monitor the transactions of the network via the website where the component will be placed.
USDQ PRICE STABILIZATION PROCESS
The stability process is achieved by Q Boxes who will make the decisions based on the algorithms of the crypto asset sale should the price drop lower than the designated framework.
Th Q Boxes influences the ecosystem by adjusting the human factors at the point of decision making.
The price pegging price in the contract is 1:1 at the dollar supported level but in the USDQ level, token cost can be in the greater or lower side. Thus, the smart contract ensures 1 USDQ = 1 USD.
The other way to stabilize the USDQ token is also connected to the Q Boxes. As a result, the 1 USDQ in the secondary market will always be stabilized due to actions of traders and change of the number of USDQ which are in circulation.
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