StableCoin Powered By Platinum QDAO
Participating in the crypto world is indeed very pleasant. Besides getting knowledge about technological developments, I also get income from crypto trading. The crypto price fluctuation is very high, in fact it is almost said to be quite extreme for beginners who invest in this field. This is like a double-edged sword, can be very beneficial or even very detrimental. Need more understanding and knowledge as well as more experiences, which is certainly enough to drain energy and mind.
One day while browsing the internet I read a project that guaranteed that prices would be stable even though the crypto market was in turmoil. Sounds like a marketing language hmmm ...
Interesting for us to know, and now I will try to review it about USDQ stable coins
ABOUT STABLECOIN ECOSYSTEM
QDAO is a Unique platform to generate fiat-pegged stablecoins. USDQ is an example of a coin from the QDAO platform. USDQ allows its users to collateralize their cryptocurrency thereby, guaranteeing its minimum value (a feature unavailable with Bitcoin and Ethereum)
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.
Users can generate various stablecoins on QDAO platform, currently USDQ and KRWQ are available. USDQ uses Bitcoin as its collateral, it mean to create USDQ or another stablecoin users need to lock up their Bitcoins in a smart contract. 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.
TOKEN and Price Stabilization
The QDAO Ecosystem comprises two coins : QDAO and stablecoins family (USDQ, KRWQ etc).
(1) QDAO: the creation of Q DAO was factored to govern the ecosystem and to pay fees inside the ecosystem.
(2) USDQ: USDQ is a decentralized stablecoin backed by bitcoin. It functions by using algorithms and is pegged to USD, that is USDQ 1 = USD 1
51% of tokens (509999.49 QDAO tokens) available for tokensale during 10 rounds. They are distribute 30% tokens by IEO and 70% tokens by OTC desk (tokens will be locked for a certain period of time.
There is an app called QBOX, who will provide the decisions based on mathematical algorithms on the need for crypto asset sale in case its price drops lower than the designated mark. At decision-making interaction of QBoxes adjust human factor of influence on the ecosystem.
The quality of decisions, taken by the neural network, grows gradually, accounting for the scope of use. The speed of training depends on the amount of crypto assets, collateralized at the platform. A higher amount of crypto assets enables to obtain both higher speeds of training and higher growth in quality and frequency for predictions. In addition, the more devices the user installs the app on, the faster the training will be performed.
QBox brings decentralization to the ecosystem, acting as a network of decentralized and fully independent predictors, forecasting prices for collateral assets and proposing potential changes to the collateralization ratios. In order to avoid excessive mining, the ecosystem adjusts the complexity levels for Q DAO mining, so that the generated quantity does not exceed the quantity of tokens, burned through the processes to cast votes, repay collateral and liquidate CDPs.
QDAO holders participate in the votes for an Active Proposal, submitted by Q Box (neural network component) or Q DAO holders. The Active Proposal is a smart contract that can access the ecosystem's parameters and make the changes, specified in the proposal. A Proposal Contract can execute only once with it being subsequently destroyed after the use. Upon activation, it immediately implements the changes to internal variables within the Q DAO Platform.
The vote by the Q DAO holders community is held with regard to the Active Proposal. With regard to the proposals, brought forward by Q Boxes, the users who are inclined against the Active Proposal have to cast the "no" votes with their Q DAO tokens being burned upon the vote. 1 unit of the Q DAO token entitles a holder to 1 vote. A user who doesn't vote against the Active Proposal is deemed as voting in favor of the same. The votes must be cast within 24 hours from the time when The Active Proposal was placed on the vote. Meanwhile, the Active Proposals, furnished by Q DAO holders, move through a conventional voting process with Q DAO holders voting for or against the proposals.
CONCLUSION
What I can conclude from this project is that it is very realistic to create stable coins with the Qbox, the voting system and the support of the Consulting Team called Platinum. For your information, Platinum is an international STO / IEO / ICO / POST ICO consulting, promotion and fundraising company with offices in Tokyo, London, Bangkok, Seoul, Singapore, Yangon, Colombo, Phnom Penh, Moscow, Minsk and Kiev. Over 200 specialists with 3 years of experience in crypto and 7 years in financial markets.
We support the success of this project, hopefully as expected. For more information you can visi all links above :
Website : https://usdq.platinum.fund/
Whitepaper : https://usdq.platinum.fund/whitepaper
Facebook : https://www.facebook.com/FundPlatinum
Twitter : https://twitter.com/FundPlatinum
Medium : https://medium.com/platinum-fund
Author : ID 21639