I can't call stablecoin a coin which is backed by usd or any other currency, maybe sounds illogical but I'll explain, that's because even those currencies aren't stable. A true stable coin must be like this, for example take one baseline. According to 09.20.2019 1stb=1$ and this is fixed, after that if usd's inflation will be 10% and yesterday's 1$ = today's 1.2$, stablecoin must correct this situation and my yesterday's 1$ must be today's 1.2$ because I invested in stablecoin, a coin which is "STABLE".
When such coin will be created, then come here and open threads about it.
Topic: Create a perfect decentralized stable coin $USGD (Read 103 times)
I am not someone who specializes in law and I do not understand US law, but from my logic if you create your altcoin the US government will want to know if you have money in the bank corresponding to the coins in circulation. who will audit your currency so we know everything is going well? you are anonymous, and for your project to be successful you will have to show your face, are you ready for it?
I agree there is a need of decentralized stablecoin after hearing lots of complaints about manipulation with tether (for example). I guess most stablecoins which are currently on markets are not having proper reserves nor periodic audits. We are just believing into someone else for those stablecoins' worth and they may manipulate them at any level on their wish Bitcoin or any other coin's value is being decided by markets whereas these stablecoins are having infinite supply yet no change in their value. It means it is a cancer to the crypto's decentralization environment. We must need a purely decentralized stable coin.
I read someone else pre-announced a kind of decentralized stablecoin which will be purely based on this community like they promised initial airdrop to all forum members based on merits/rank. But, I am not sure what had happened to that project after that.
Having proper reserve for a stablecoin is a big problem for every stablecoin whereas that proposed stablecoin found a solution to that (if I remember correctly). Like, being a DECENTRALIZED stablecoin it does not require a sufficient reserve or all the BTC in our wallet will be assumed like a reserve hence all the coins will be distributed to bitcoin community as airdrop. I could not remember exactly but I had agreed with their proposal at that time. Let me post their link if I am able to find that pre-ANN now.
I read someone else pre-announced a kind of decentralized stablecoin which will be purely based on this community like they promised initial airdrop to all forum members based on merits/rank. But, I am not sure what had happened to that project after that.
Having proper reserve for a stablecoin is a big problem for every stablecoin whereas that proposed stablecoin found a solution to that (if I remember correctly). Like, being a DECENTRALIZED stablecoin it does not require a sufficient reserve or all the BTC in our wallet will be assumed like a reserve hence all the coins will be distributed to bitcoin community as airdrop. I could not remember exactly but I had agreed with their proposal at that time. Let me post their link if I am able to find that pre-ANN now.
1．GRAVITATION
1.1 Unlimited Gravitation
Since the advent of digital currency, the world has launched a fierce transfer of
wealth around digital currency by the ideas of Sages, in this movement,,few of
adventurers had stand on the top of pyramid.but lots of people just lost in the
market and being the base of the pyramid.
In the chaotic and disorderly market, because there is no perfect distribution
mechanism, the mass wealth is gathered in the hands of the project party, and the
project party monopolizes wealth, And did not give participants appropriate
wealth rewards through a good distribution mechanism, As a result, the world of
digital currencies began to fall apart.
Gravity system will gather wealth and automatically distribute through the
Etherum gravity smart contract, Embody the principle of equal and fair
participation for all. Mutual gravitation attracts people to work together, and
gravitation attracts more digital currency believers. Gravitation makes participants
profitable,profit makes a more powerful gravitation community,attracts more
participants. Gravitation,wil lunch its first stage from the Sun, then to Galaxy and
to the Universe!
1.2 “GRAVITATION”, the Holy Bible of blockchain
As all know, decentralized, fair and transparent distribution mechanism embodied in
digital currency is the most important gravitation for the public to join this wealth
transfer movement. When the darkness begins, Chaos is disordered,and the unlimited
gravitation will adjust the orders. Chaos started,umlimited gravitation drag everything,
create galaxy,moving forever.
l Inspiration
The mutual gravitation becomes the proof of the covenant, and it is also the
concrete manifestation of the gravitational value-added.
Covenant been set,Gravitation comes through
l SENTENCE and Prophecy
Resist all central rights, Rights are not equal to the defenders of value, Let humanity
trust each other and gravitation become a value transmission mechanism. Become the
guiding force of the blockchain, believe the gravitation,we prophecy the gravitation is
the road to digital currency in future
l power of Freedom
Gravitational framework gives subjective freedom and equality，the power of freedom
is due to the standard of the nature of the work of the block. When the power of
freedom as the proof of block working,and be the proof of the computer calculation
power too,the gravitation becomes to the most main part of the block, The more free
of mechanism, the stronger of inclusiveness
l power of equal
The emergence of guidance is also inactive,because the power of equal is the first
principle to freedom ,so that, the principle of the equal integration by gravitation,and
the multi reward system of gravitation, both are the “holy bible” guide of crypto
currency wealth.
2．The importance of Stable digital currency
Every time, when BTC price goes up, all news media tell us,the reason is USDT
increased their amount;and every time,when BTC price drops, they said because
USDT had been investigated by SEC
The largest stable currency on the market today is USDT (Tether), backed by the
US dollar. They claim to have actual dollar reserves to support each unit of the
USDT, although critics point to no solid evidence of Tether's dollar reserves. But
USDT still occupies more than 90% of Bitcoin's trading volume.
We are entering a digital currency time, which is becoming more and more
obvious. So far, more than 80% of the world's central banks are planning to launch
their own digital currency to explore the possibility of stabilizing the currency.
Social business giants like Facebook are also trying to issue stable coins, and have
already issued Libar white papers. A large number of governments and
multinational companies are studying the possibility of stable digital currency .
This proves that the stable currency will become the mainstream of the future
world
A key issue that plagues cryptocurrencies is Gresham's monetary law, which states
that "bad money drives out good money." This means that if there are two or
more active currencies, then the most valuable currency is always overtaken, and
unstable cryptocurrencies will inevitably lead to speculation.
However, a stable currency with a revenue system promotes the use of money
while distributing wealth evenly. Effective measures should also be taken to
recover a mortgaged asset and provide a simple process to verify or retrieve these
assets. Transparency will be an inevitable factor in the future for success of the
stable currency.
Stabilizing coins will likely change the cryptocurrency market and make blockchain
technology into mainstream. They provide a link between digital and Fiat, free
from inflation, and reduce risk for potential investors.
Innovative technology must have initial problems, and stable coins need to ensure
their stability, and need better governance and reasonable distribution methods.
They are likely to revolutionize our financial institutions in the near future.
Thus, the project of GRAVITATION is generated.
3．Gravitation will produce a decentralized coin,USGD
The project will issue a digital currency,GTE, its total amount is 210,000,000 coins.
GTE will be issued through a decentralized wealth distribution mechanism of a
perfect economic model.
GTE is a most important part of Gravitation poject, Strong consensus produced by
the gravity of GTE. Will create favorable conditions for the decentralized
$USGD,a dollar stable currency for decentralized smart contract burning fuel. The
ultimate goal of GTE is to create a completely equal and free decentralized stable
currency.
Next, this article will detail the model for GTE$USGD.
3.1 Current situation of Stabilized Currency
At present, the stable currency in the market is mainly issued with denominated stable
currency by legal currency or digital asset. Such as Tether issue their USDT,MakerDao
issue their DAI, Issued by mortgage Ethereum.
But their flaws cannot be ignored. For example, USDT's savings in the bank are
opaque, and it is impossible to prove that all USDTs can be fully converted into full US
dollar assets. DAI issued by MakerDao, owners can get ETH back when they sold the
DAI, but because the price of ETH is very unstable, holders may lost lot when they sell
their DAI.
Today, in the digitalization of global assets, the above methods are not perfect
stable crypto currency solutions. GTE will focus to create a completely new stable
crypto currency. Next is its technical logic.
4 .GTE=USGD a US dollar stable currency
GTE aims to release a completely private, decentralized stable currency through the
concept of “casting and burning”. Its comes from Safe Harbor Agreement(HAVEN),
But add new implementation features. The Safe Harbor Agreement is more based on
the concept of fully encrypting the stable currency of the centralized legal currency
background. GTE=$USGD, Optimized "casting and burning" is more decentralized.
The user can burn/destroy the unsteady coin GTE to cast or create a stable currency
($USGD) that generates an equivalent market value. It is of course possible to make a
holding investment by burning a fixed $USGD to generate the current equivalent
unsteady currency GTE. Use the casting and burning of natural trading in the market
to achieve the purpose of circulation of stable coins.
4.1 GTE= $USGD The technology architecture of stable
crypto currency
Gravitation,is a decentralized distribution and redemption ecosystem for creating
a stable currency linked to the US dollar $USGD,its supported by GTE,a asset
linked on the blockchain of Etheruem . Gravitation develops a two-way exchange
system with two directions for redemption and redemption.
GTE establishes a pegged exchange rate based on the current US dollar market
price. GTE holders can execute a $USGD-A contract through the Gravitational
system and use GTE to get equivalent US$USD dollars.
In order to achieve its accurate redemption, a unique Oracl prediction function has
been developed called a "service node". This function is USGD to confirm the
exchange rate between GTE and USGD transactions. Oracl predictive function uses
zero-knowledge proof technology to ensure that no third-party transactions are
endorsed during the transaction.
The Oracle node network run by Gravitational writes GTE market price data to the
Gravitational system and uses it to calculate the $USGD issue and redemption
price.
4.2 The open source and decentralization of gravitational
stable coins
In keeping with the blockchain spirit, Gravitational's GTE and Stabilizer $USGD will
remain fully open source systems。And through the mining machine calculation
contract to ensure the complete decentralization of Gravitational.
4.3 The fairness of Gravitation stable currency
GTE=USGD, both developed based at Ethereum ,fully open source and no back
door. The GTE token is completely distributed through the smart contract of the
data function, which is the inheritance and sublimation of the essence of
Ethereum. $USGD will be a totally crypto and fully decentralized stable currency.
5.PROJECT PLAN
1. Q4 2019, GTE token distribute, listing at exchanges and deploy the mining
machines .
2. Q1 2020, Promote gravitational consensus, listing GTE at not less 50 exchanges
including some most famous exchanges.
3. Q1 2020, start the test of Gravitational agreement with GTE/USGD, plan to list
USGD.
4. Q2 2020, when BTC mining capacity halved, l isted the USGD, provide the USGD
to traders and the earlier holders of GTE.
6 .The investment value of GTE.
Once the Gravitational agreement is issued for GTE, the Gravitational team will
create strategic partnerships to increase GTE's large-scale use and commercial use
of investors, businesses and the public, When USGD users use more and more on
the exchange，More and more GTE are being burned/destroyed into $USGD, and
the continuous reduction of GTE's circulation will inevitably lead to a huge
increase in GTE prices.
7 .Gravitation Set Sail
As the value of the project is reflected, the progressive output of the gravitational
coin GTE will provide the original currency for burning/destruction for $USGD. the
burning of GTE makes the total amount less, and the decrease of circulation more
stimulate the price of GTE. It can make GTE be BTC-like, a strong digital currency
and support the huge market capitalization of $USGD
Gravity issues GTE through multiple free and equal ways of
participation/invitation/allocation/mortgage/FOMO/reward, GTE gains a strong
gravitational consensus, complements each other to create a strong consensus for
the decentralized smart contract's $USGD stable coin, GTE will become a super
value coin beyond the consensus of digital energy.
1.1 Unlimited Gravitation
Since the advent of digital currency, the world has launched a fierce transfer of
wealth around digital currency by the ideas of Sages, in this movement,,few of
adventurers had stand on the top of pyramid.but lots of people just lost in the
market and being the base of the pyramid.
In the chaotic and disorderly market, because there is no perfect distribution
mechanism, the mass wealth is gathered in the hands of the project party, and the
project party monopolizes wealth, And did not give participants appropriate
wealth rewards through a good distribution mechanism, As a result, the world of
digital currencies began to fall apart.
Gravity system will gather wealth and automatically distribute through the
Etherum gravity smart contract, Embody the principle of equal and fair
participation for all. Mutual gravitation attracts people to work together, and
gravitation attracts more digital currency believers. Gravitation makes participants
profitable,profit makes a more powerful gravitation community,attracts more
participants. Gravitation,wil lunch its first stage from the Sun, then to Galaxy and
to the Universe!
1.2 “GRAVITATION”, the Holy Bible of blockchain
As all know, decentralized, fair and transparent distribution mechanism embodied in
digital currency is the most important gravitation for the public to join this wealth
transfer movement. When the darkness begins, Chaos is disordered,and the unlimited
gravitation will adjust the orders. Chaos started,umlimited gravitation drag everything,
create galaxy,moving forever.
l Inspiration
The mutual gravitation becomes the proof of the covenant, and it is also the
concrete manifestation of the gravitational value-added.
Covenant been set,Gravitation comes through
l SENTENCE and Prophecy
Resist all central rights, Rights are not equal to the defenders of value, Let humanity
trust each other and gravitation become a value transmission mechanism. Become the
guiding force of the blockchain, believe the gravitation,we prophecy the gravitation is
the road to digital currency in future
l power of Freedom
Gravitational framework gives subjective freedom and equality，the power of freedom
is due to the standard of the nature of the work of the block. When the power of
freedom as the proof of block working,and be the proof of the computer calculation
power too,the gravitation becomes to the most main part of the block, The more free
of mechanism, the stronger of inclusiveness
l power of equal
The emergence of guidance is also inactive,because the power of equal is the first
principle to freedom ,so that, the principle of the equal integration by gravitation,and
the multi reward system of gravitation, both are the “holy bible” guide of crypto
currency wealth.
2．The importance of Stable digital currency
Every time, when BTC price goes up, all news media tell us,the reason is USDT
increased their amount;and every time,when BTC price drops, they said because
USDT had been investigated by SEC
The largest stable currency on the market today is USDT (Tether), backed by the
US dollar. They claim to have actual dollar reserves to support each unit of the
USDT, although critics point to no solid evidence of Tether's dollar reserves. But
USDT still occupies more than 90% of Bitcoin's trading volume.
We are entering a digital currency time, which is becoming more and more
obvious. So far, more than 80% of the world's central banks are planning to launch
their own digital currency to explore the possibility of stabilizing the currency.
Social business giants like Facebook are also trying to issue stable coins, and have
already issued Libar white papers. A large number of governments and
multinational companies are studying the possibility of stable digital currency .
This proves that the stable currency will become the mainstream of the future
world
A key issue that plagues cryptocurrencies is Gresham's monetary law, which states
that "bad money drives out good money." This means that if there are two or
more active currencies, then the most valuable currency is always overtaken, and
unstable cryptocurrencies will inevitably lead to speculation.
However, a stable currency with a revenue system promotes the use of money
while distributing wealth evenly. Effective measures should also be taken to
recover a mortgaged asset and provide a simple process to verify or retrieve these
assets. Transparency will be an inevitable factor in the future for success of the
stable currency.
Stabilizing coins will likely change the cryptocurrency market and make blockchain
technology into mainstream. They provide a link between digital and Fiat, free
from inflation, and reduce risk for potential investors.
Innovative technology must have initial problems, and stable coins need to ensure
their stability, and need better governance and reasonable distribution methods.
They are likely to revolutionize our financial institutions in the near future.
Thus, the project of GRAVITATION is generated.
3．Gravitation will produce a decentralized coin,USGD
The project will issue a digital currency,GTE, its total amount is 210,000,000 coins.
GTE will be issued through a decentralized wealth distribution mechanism of a
perfect economic model.
GTE is a most important part of Gravitation poject, Strong consensus produced by
the gravity of GTE. Will create favorable conditions for the decentralized
$USGD,a dollar stable currency for decentralized smart contract burning fuel. The
ultimate goal of GTE is to create a completely equal and free decentralized stable
currency.
Next, this article will detail the model for GTE$USGD.
3.1 Current situation of Stabilized Currency
At present, the stable currency in the market is mainly issued with denominated stable
currency by legal currency or digital asset. Such as Tether issue their USDT,MakerDao
issue their DAI, Issued by mortgage Ethereum.
But their flaws cannot be ignored. For example, USDT's savings in the bank are
opaque, and it is impossible to prove that all USDTs can be fully converted into full US
dollar assets. DAI issued by MakerDao, owners can get ETH back when they sold the
DAI, but because the price of ETH is very unstable, holders may lost lot when they sell
their DAI.
Today, in the digitalization of global assets, the above methods are not perfect
stable crypto currency solutions. GTE will focus to create a completely new stable
crypto currency. Next is its technical logic.
4 .GTE=USGD a US dollar stable currency
GTE aims to release a completely private, decentralized stable currency through the
concept of “casting and burning”. Its comes from Safe Harbor Agreement(HAVEN),
But add new implementation features. The Safe Harbor Agreement is more based on
the concept of fully encrypting the stable currency of the centralized legal currency
background. GTE=$USGD, Optimized "casting and burning" is more decentralized.
The user can burn/destroy the unsteady coin GTE to cast or create a stable currency
($USGD) that generates an equivalent market value. It is of course possible to make a
holding investment by burning a fixed $USGD to generate the current equivalent
unsteady currency GTE. Use the casting and burning of natural trading in the market
to achieve the purpose of circulation of stable coins.
4.1 GTE= $USGD The technology architecture of stable
crypto currency
Gravitation,is a decentralized distribution and redemption ecosystem for creating
a stable currency linked to the US dollar $USGD,its supported by GTE,a asset
linked on the blockchain of Etheruem . Gravitation develops a two-way exchange
system with two directions for redemption and redemption.
GTE establishes a pegged exchange rate based on the current US dollar market
price. GTE holders can execute a $USGD-A contract through the Gravitational
system and use GTE to get equivalent US$USD dollars.
In order to achieve its accurate redemption, a unique Oracl prediction function has
been developed called a "service node". This function is USGD to confirm the
exchange rate between GTE and USGD transactions. Oracl predictive function uses
zero-knowledge proof technology to ensure that no third-party transactions are
endorsed during the transaction.
The Oracle node network run by Gravitational writes GTE market price data to the
Gravitational system and uses it to calculate the $USGD issue and redemption
price.
4.2 The open source and decentralization of gravitational
stable coins
In keeping with the blockchain spirit, Gravitational's GTE and Stabilizer $USGD will
remain fully open source systems。And through the mining machine calculation
contract to ensure the complete decentralization of Gravitational.
4.3 The fairness of Gravitation stable currency
GTE=USGD, both developed based at Ethereum ,fully open source and no back
door. The GTE token is completely distributed through the smart contract of the
data function, which is the inheritance and sublimation of the essence of
Ethereum. $USGD will be a totally crypto and fully decentralized stable currency.
5.PROJECT PLAN
1. Q4 2019, GTE token distribute, listing at exchanges and deploy the mining
machines .
2. Q1 2020, Promote gravitational consensus, listing GTE at not less 50 exchanges
including some most famous exchanges.
3. Q1 2020, start the test of Gravitational agreement with GTE/USGD, plan to list
USGD.
4. Q2 2020, when BTC mining capacity halved, l isted the USGD, provide the USGD
to traders and the earlier holders of GTE.
6 .The investment value of GTE.
Once the Gravitational agreement is issued for GTE, the Gravitational team will
create strategic partnerships to increase GTE's large-scale use and commercial use
of investors, businesses and the public, When USGD users use more and more on
the exchange，More and more GTE are being burned/destroyed into $USGD, and
the continuous reduction of GTE's circulation will inevitably lead to a huge
increase in GTE prices.
7 .Gravitation Set Sail
As the value of the project is reflected, the progressive output of the gravitational
coin GTE will provide the original currency for burning/destruction for $USGD. the
burning of GTE makes the total amount less, and the decrease of circulation more
stimulate the price of GTE. It can make GTE be BTC-like, a strong digital currency
and support the huge market capitalization of $USGD
Gravity issues GTE through multiple free and equal ways of
participation/invitation/allocation/mortgage/FOMO/reward, GTE gains a strong
gravitational consensus, complements each other to create a strong consensus for
the decentralized smart contract's $USGD stable coin, GTE will become a super
value coin beyond the consensus of digital energy.
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