THE CORIONIX TOKEN: #MONEYINTHERIGHTDIRECTION

jaephoenix (46)in #corionx • 4 years ago

STABLECOINS

A Stablecoin is a cryptocurrency or digital asset that is pegged to fiat currency or other financial assets. Examples include Tether(USDT) the premier stablecoin, GUSD, USDC, TUSD, BUSD etc. Stablecoins are set to be created in efforts to digitize most traditional currencies and financial assets alongside new use cases.

Use Cases

Stability
The use cases of Stablecoins are many, the initial use is to solve the notorious volatility issues of cryptocurrencies, which has made it a pariah in the mainstream financial circles. This stability allows cryptocurrency traders to move funds frequently, in and out of exchanges at low costs, with users who exchange their other cryptocurrencies to stablecoins to maintain value after anticipating volatile price action.
Easy Transferability
Traders can quickly and seamlessly transfer funds to their bank accounts using stablecoins. This feature can happen with the USDC platform which has a “redeem feature” that permits connection to any bank account for receipt of USD.
Digital Payments
Stablecoins are also crucial for making digital payments. Cryptocurrency payments have been dropped by some companies who adopted it due to volatility.In addition, stablecoins can be used for remittances. Stablecoins present a quick and affordable way for people to send money around the world.
Source of passive income
Just like every other cryptocurrency that allows users to make money usually via mining or staking, some stablecoins allow you to make an income through its creation or stabilization. Like Maker DAO’s DAI token and Bitshares BitUSD.
Lending Platforms
This new DeFi opportunity is seen in stablecoin lending.

Types
There are several types of stablecoins, which include fiat-based, crypto-collateralized, and algorithmically stabilized stablecoins.

Fiat-Collateralized
This type of stablecoin is the most popular as it regularly used on exchanges instead of traditional currencies.A fiat-based or fiat-collateralized stablecoin is a cryptocurrency that is backed by a traditional government-owned currency like the Euro (EUR), United States Dollar (USD), British Pound (GBP), Nigerian Naira (NGN), Australian Dollar) AUD) . For example, a stablecoin pegged to the dollar is issued at a 1:1 ratio backed to assets stored in a bank or other reservoir. Examples are TUSD, USDC, TUSD, and PAX are examples.
Cryptocurrency-collateralized
A crypto-collateralized stablecoins, which works at the same principle as their fiat counterparts except they are cryptocurrencies backed. This is a more decentralized alternative to fiat-backed stable. Example of crypto-collateralized are Maker DAO, Synthetix and Staticoin, and now CorionPay.
Other asset collaterized
In this case the issued payment assets are not backed by other assets like securities, stocks, government bonds and precious metals like diamonds, gold, silver etc. The drawback here is poor liquidity like some stocks. The portfolio to be hedged must be continuously evaluated for market capitalisation and coin issuance is only possible with that value in mind.
Algorithmically-collaterized
These relatively rarer and newer forms of stablecoin are based on algorithms balancing a circulating supply of stablecoins with more coins being minted when the price of the asset rises, and less minting when the price reduces.

CorionX

Can stablecoins be any more better than what we have presently? Can any more use cases be extracted? How else does it benefit the cryptocurrency community and the global mainstream financial niche?
Let's see what CorionX has to offer.

Corion Foundation

Founded in Switzerland, Europe in 2016,Corion Foundation was created with the aim of helping the development and expansion of stablecoins and cryptocurrencies in the world. Soon the Foundation plan on “CorionPay” a stablecoin that is a notch above others with DeFi on its mind.
CorionX is a token issued by the Foundation and powers stablecoin and crypto infrastructures.
Features
CorionX utility token based on the Ethereum smart contract, with a ticker CORX. Four hundred million is the token total circulatory volume and has an 8 digit decimal. It has a contract address of 0x26a604DFFE3ddaB3BEE816097F81d3C4a2A4CF97.The value is $0.015
Use Cases

Loyalty Staking Program: Token holders are entitled to be rewarded 2.5% quarterly here with staking providers, partner exchanges will be allowed to provide additional, special staking rewards.
Membership fee payment: CorionX can be used to pay membership fees and other service fees of CorionX.
Users would be able to operate and do transactions like scoring etc
Incentivizing merchants and sellers to accept stablecoins with CorionX payments.
With partnerships with stablecoin projects, CorionX holders are rewarded for engaging in stablecoin, DeFi, via airdrops and other giveaways.
It can be donated by sponsors to support the CorionX Foundation’s Stablecoin Movement’s activities.

XCELPAY WALLET INTEGRATION

XcelPay Wallet,owned by the travel pay project XcelTrip has integrated CORX into its wallet and can be globally accepted for creation of the framework for education, expansion, and promotion for the usage of stablecoins, CBDCs and DeFi globally. CorionX creates a platform for education and leads the #MoneyInTheRightDirection Movement to succeed in the paradigm shift how to use crypto as a digital and programmable money. This is the right step by the CorionX Foundation in fulfilling its promises.
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FINAL WORD
The world of Stablecoin finance would never be the same since the introduction of CorionX. DeFi is not DeFi until CorionX says its bit. Indulge in the IEO on Probit.

CORIONX RESOURCES