Topic: Relay - A Private Stablecoin System - page 4. (Read 1879 times)
maybe this is currency to surpass tether! i will watch, very interested
Privacy and anonymization features are often regarded as the domain of criminals seeking to hide their tracks, but they are actually necessary for any currency that truly seeks to have cash-like applications due to the requirement of fungibility.
A good product is only part of the battle - it is also critical to have strong community support for a project to succeed. Therefore, the Relay stablecoin system is launching a bounty program designed for users to be able to participate in growing the ecosystem and be rewarded for their efforts.
Full details of the bounty program are available at https://medium.com/@RelayFoundation/the-relay-bounty-program-a87dc0c52ed6.
Full details of the bounty program are available at https://medium.com/@RelayFoundation/the-relay-bounty-program-a87dc0c52ed6.
We are very excited to announce the Relay stablecoin system! Stablecoins are already very important to the cryptocurrency ecosystem and will only grow in usage and impact as time goes on. However, there is a great opportunity for a new stablecoin with a scalable supply and privacy features to become a powerful contender in the marketplace. This is the goal of Relay - its decentralized Relay Token (XRL) collateral mechanism maintains the Relay Dollar's (XRD) value while allowing supply to scale in response to demand, and fully private transactions make it appropriate for real money-like uses that public stablecoins are not yet good for.
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This coin it will be added in the next hours on channels New Coins Team
https://t.me/New_Cryptocurrency_Team
This is a FREE channel for notification of new coins.
Moreover, we offer unique services :
- Instant notifications New Coins
- Instant notifications New Airdrops
- Weekly Rating Sheet
Join on
https://t.me/New_Cryptocurrency_Team
This is the same bot VIP users can take advantage of for real time notification of coins.
Lie down on your sofa and wait for your REAL TIME notifications to be completely relaxed.
Start your mining immediately, striking the first blocks before each other without spending whole days on Bitcointalk.
The Relay Stablecoin System is a private cryptocurrency with stable value pegged to the US dollar, secured by a public collateral token.
Website: https://www.relaystablecoin.com/
Whitepaper: https://uploads-ssl.webflow.com/5adcb0defcceb96296d0b563/5b7e0d5d6c067dff73b5f383_Relay%20stablecoin%20system%20whitepaper.pdf
Twitter: https://twitter.com/RelayStablecoin
Medium: https://medium.com/@RelayFoundation/
Bounty program: https://medium.com/@RelayFoundation/the-relay-bounty-program-a87dc0c52ed6
Why the world needs Relay:
Existing stablecoins are hampered by centralized collateralization requirements which make them unable to scale and/or by the lack of privacy features necessary for practical usage in a cash-like context. The vast majority of scenarios involving a digital transaction can be improved by the introduction of a truly fungible currency that cannot be counterfeited or publicly traced. In addition to having these traits, the decentralized collateralization mechanism allows the Relay stablecoin system to scale to any value necessary to meet adoption demand, as demand for XRD will raise the value of XRL as additional XRD is printed to XRL depositors, increasing the value of the collateral held by the Relay DAO.
Key features:
· Two-token system: the Relay Dollar (XRD) is pegged to the US dollar, and the Relay Token (XRL) is the volatile collateral token.
· XRD is a currency with anonymized transactions, while XRL is public. The Relay blockchain is based on Ethereum with the addition of CryptoNote privacy features in XRD transactions.
· XRL value is tied to speculation and real usage of XRD due to its purpose as the only valid collateral of XRD.
· XRD supply is controlled by the Relay decentralized autonomous organization (Relay DAO), which issues XRD to XRL owners who collateralize their XRL.
· Initial collateralization of 200%, so you receive 50% of the value of your XRL in XRD.
· If the value of XRD exceeds $1.01, 1% of the current supply of XRD is newly printed and issued to collateral owners. Thus, XRL holders are the source through which new XRD enters the market.
· If the value of XRD drops below $1.00, XRD owners can return XRD to the Relay DAO to reclaim the XRL collateral. The returned XRD is burned, decreasing the XRD supply and increasing its value.
Release date:
Late October / early November.
The Relay team has signed agreements under NDA with two (2) exchanges to premiere listings for both XRL and XRD on the date of network launch. The Relay stablecoin system testnet and codebase will be opened to a public bug bounty program following third party review, which is currently in progress and expected to conclude in September or October. The public bug bounty program will begin immediately following the conclusion of the third party audit and run for a duration of three (3) weeks or until all no critical / major issues are open, whichever is later. The mainnet launch, XRL token distribution, and exchange listings will be held one (1) week after the successful close of the public bug bounty program.
Token distribution:
The total supply of XRL is 1,000,000,000 (one billion). XRD has a variable supply dependent on the amount of XRL held in the Relay DAO as well as the value of XRL.
The Relay stablecoin system’s public round will begin on September 1, 2018 and continue through October 1, 2018. Up to 2000 ETH will be raised in the public round for 75% of the total supply, which is 750,000,000 (seven hundred and fifty million) XRL. Of the remaining 25% supply, 12.5% is allocated to the team, 2.5% to the bounty program, and 10% to the Relay Foundation Ecosystem Development Fund. Team tokens are subject to a 1 year lock.
At a per-ETH value of $275 USD / XRD, the implied initial valuation of the Relay stablecoin system is ~$733,000.
There is no private round. Institutions and other large investors will participate in the public round with no preferential distribution ratios or other advantages over other participants.
Value mechanism of the Relay Token (XRT):
The Relay Token (XRT) is what contributors receive in return for their public round funds. This token is the foundation for the value of the Relay Dollar through a decentralized collateral system where XRT holders can 'lock up' their tokens in return for Relay Dollars (XRD) at any time and for any duration. XRT holders benefit from the success of the Relay stablecoin system in two ways:
1) If the value of XRD rises above $1.01, additional XRD is printed and sent to XRT collateral holders to provide selling pressure and decrease the price back down to the $1.00 peg. Thus, increased demand for the Relay Dollar provides a direct revenue stream to XRT holders.
2) As adoption of the Relay stablecoin system grows, the value of XRT increases due to demand driven primarily by the income stream described above. Thus, XRD adoption both leads to XRD being directly given to XRT holders as well as increasing value for the tokens themselves.
Website: https://www.relaystablecoin.com/
Whitepaper: https://uploads-ssl.webflow.com/5adcb0defcceb96296d0b563/5b7e0d5d6c067dff73b5f383_Relay%20stablecoin%20system%20whitepaper.pdf
Twitter: https://twitter.com/RelayStablecoin
Medium: https://medium.com/@RelayFoundation/
Bounty program: https://medium.com/@RelayFoundation/the-relay-bounty-program-a87dc0c52ed6
Why the world needs Relay:
Existing stablecoins are hampered by centralized collateralization requirements which make them unable to scale and/or by the lack of privacy features necessary for practical usage in a cash-like context. The vast majority of scenarios involving a digital transaction can be improved by the introduction of a truly fungible currency that cannot be counterfeited or publicly traced. In addition to having these traits, the decentralized collateralization mechanism allows the Relay stablecoin system to scale to any value necessary to meet adoption demand, as demand for XRD will raise the value of XRL as additional XRD is printed to XRL depositors, increasing the value of the collateral held by the Relay DAO.
Key features:
· Two-token system: the Relay Dollar (XRD) is pegged to the US dollar, and the Relay Token (XRL) is the volatile collateral token.
· XRD is a currency with anonymized transactions, while XRL is public. The Relay blockchain is based on Ethereum with the addition of CryptoNote privacy features in XRD transactions.
· XRL value is tied to speculation and real usage of XRD due to its purpose as the only valid collateral of XRD.
· XRD supply is controlled by the Relay decentralized autonomous organization (Relay DAO), which issues XRD to XRL owners who collateralize their XRL.
· Initial collateralization of 200%, so you receive 50% of the value of your XRL in XRD.
· If the value of XRD exceeds $1.01, 1% of the current supply of XRD is newly printed and issued to collateral owners. Thus, XRL holders are the source through which new XRD enters the market.
· If the value of XRD drops below $1.00, XRD owners can return XRD to the Relay DAO to reclaim the XRL collateral. The returned XRD is burned, decreasing the XRD supply and increasing its value.
Release date:
Late October / early November.
The Relay team has signed agreements under NDA with two (2) exchanges to premiere listings for both XRL and XRD on the date of network launch. The Relay stablecoin system testnet and codebase will be opened to a public bug bounty program following third party review, which is currently in progress and expected to conclude in September or October. The public bug bounty program will begin immediately following the conclusion of the third party audit and run for a duration of three (3) weeks or until all no critical / major issues are open, whichever is later. The mainnet launch, XRL token distribution, and exchange listings will be held one (1) week after the successful close of the public bug bounty program.
Token distribution:
The total supply of XRL is 1,000,000,000 (one billion). XRD has a variable supply dependent on the amount of XRL held in the Relay DAO as well as the value of XRL.
The Relay stablecoin system’s public round will begin on September 1, 2018 and continue through October 1, 2018. Up to 2000 ETH will be raised in the public round for 75% of the total supply, which is 750,000,000 (seven hundred and fifty million) XRL. Of the remaining 25% supply, 12.5% is allocated to the team, 2.5% to the bounty program, and 10% to the Relay Foundation Ecosystem Development Fund. Team tokens are subject to a 1 year lock.
At a per-ETH value of $275 USD / XRD, the implied initial valuation of the Relay stablecoin system is ~$733,000.
There is no private round. Institutions and other large investors will participate in the public round with no preferential distribution ratios or other advantages over other participants.
Value mechanism of the Relay Token (XRT):
The Relay Token (XRT) is what contributors receive in return for their public round funds. This token is the foundation for the value of the Relay Dollar through a decentralized collateral system where XRT holders can 'lock up' their tokens in return for Relay Dollars (XRD) at any time and for any duration. XRT holders benefit from the success of the Relay stablecoin system in two ways:
1) If the value of XRD rises above $1.01, additional XRD is printed and sent to XRT collateral holders to provide selling pressure and decrease the price back down to the $1.00 peg. Thus, increased demand for the Relay Dollar provides a direct revenue stream to XRT holders.
2) As adoption of the Relay stablecoin system grows, the value of XRT increases due to demand driven primarily by the income stream described above. Thus, XRD adoption both leads to XRD being directly given to XRT holders as well as increasing value for the tokens themselves.
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