What is StableCoins by Platinum Q DAO Engineering?
Q DAO is an ecosystem where users can collateralize their cryptocurrencies in order to obtain the Q DAO family stablecoins. Since the stablecoins are ERC-20 tokens, the users can easily store them in any ERC-20 wallets, buy and sell them on available exchanges, as well as spend them on any goods and services all over the world. According to the roadmap, the Q DAO ecosystem will be able to offer the users full decentralization, safety, over-collateralization, easy withdrawal of their collateral, easy management of their Q DAO tokens and stablecoins, as well as neural networks predicting and stabilization algorithms.
Stablecoins give financial freedom to every user, they are not controlled by any governments or central institutions, they are scalable, effective, and transparent. Platinum Q DAO team believes that USDQ, KRWQ, and coming stablecoins attached to the Q DAO ecosystem will take a leading position in the crypto industry as a golden standard of stable coins.
The Q DAO Ecosystem comprises two coins: Q DAO and stablecoins family USDQ, KRWQ and others.
1. Q DAO: the creation of Q DAO was factored to govern the ecosystem and to pay fees inside the ecosystem. Q DAO is a cryptocurrency inside a smart contract ecosystem that works with USDQ, KRWQ, CNYQ, JPYQ and other coins. They all look to become a hedge ecosystem that helps traders keep stability in reference to other coins currently on the market.
2. USDQ, KRWQ, JPYQ and others are a decentralized stablecoins backed by bitcoin. They function by using algorithms and are pegged to USD or appropriate national currency, that is USDQ 1 = USD 1, KRWQ 1 = KRW 1 , etc.
The main problem to solve is reducing the volatility crypto trades face, and that’s exactly what USDQ and other Q DAO family stablecoins do. Each and every single stablecoin is backed with an amount of BTC safely stored with wallets which are connected to the smart contract ecosystem. Users can set long positions on USDQ and keep those funds stable without worrying about losing their money through the swings of the crypto market.
Main Features of stablecoins inside Q DAO ecosystem
1. USDQ has a soft peg to $1 or and KRWQ to Korean Won, which means that its prices is almost always equal, deviating by just a couple of cents from time to time.
2. People can transfer USDQ or KRWQ tokens (which are ERC20 tokens) across the globe, without any huge fees as it used Ethereum ecosystem or restrictions whatsoever.
3. Anybody can use these tokens, provided that they have a smartphone or PC, Internet connection and a free Ethereum wallet installed.
4. Transfers get processed without any intermediary in place (like PayPal). 5. USDQ/KRWQ is not controlled by a CEO or a company, it’s fully decentralized.
6. No government can shut down the system or disrupt its operations. In this way, USDQ/KRWQ acts as an enabler for several capabilities that just weren’t possible before the advent of the blockchain.