Did you know you can earn interest by staking stablecoins?
Check it out! https://coincodex.com/article/4860/where-can-you-earn-interest-on-bitcoin-ethereum-and-other-cryptocurrencies/
Topic: The crypto stablecoins you need to know about (Read 243 times)
Havven is a great stable coin, I have invested in this project during ICO and I am still using it. But people should know more about existing stable coins and put their fingers away from Tether, the worst stable coin in my opinion.
Works as a part of 2018. There are lots of new already so must be an upgrade ate literally. TRON worth attention
USDT is now available also on Tron Network :O
https://coincodex.com/article/3456/trc-20-usdt-tokens-go-live-on-tron-network/
https://coincodex.com/article/3456/trc-20-usdt-tokens-go-live-on-tron-network/
That is awesome Justin sun and team working on multiple projects and make them collaborating with various altcoins and new projects. For example we can take BTT which came last few months before.
They are collaborating with USDT and made available on their network, it is great news for the investors.
Expecting more news about TRX and USDT soon.
True Usd seems to be a pretty safe option. Also, i like Havven because it will be a decentralized version of stablecoin, and this is what the community wants from crypto- complete decentralization.
I've invested on that before, not knowing that when you buy, you should buy enough so that trading platform such as binance will not going to cut your funds. I just bought a small amount and later I couldn't withdraw it. But the fact that I see stable coin beneficial is that, it saves my funds when bitcoin drops horrible.
One of the most stable coins is NEM. This is a platform with a high transaction speed, it can carry ICO. NEM has an open system, so it's always possible to track the turnover of funds. With the help of NEM, it will not be possible to finance terrorism or launder money. It can be integrated into the traditional financial sector, for example, for accounting. It runs 3 times faster than the Visa payment system. Than not a world single crypto currency for the planet Earth)))
NEM is not a stable coin,the value depends on supply and demand just like bitcoin or other cryptos.Stable coin means the coin like USDT and USDC where the value of coin backed by fiat value and centralized. Good read about the top stablecoins in the space. Which ones are your favorite? My personal favorite is Havven.
Article: http://www.tradersmagazine.com/news/cryptocurrencies/the-crypto-stable-coins-that-you-need-to-know-about-117854-1.html
I'll copy/paste here:
Article: http://www.tradersmagazine.com/news/cryptocurrencies/the-crypto-stable-coins-that-you-need-to-know-about-117854-1.html
I'll copy/paste here:
Quote
For those of you who are confused over the recent introduction of more stable coins, I don’t blame you. It seems like everyone is throwing their ideas into the hat. So, let me break them down for you to make it a little simpler. What are stable coins? Why are they important?
Like what you see? Click here to sign up for Trader Magazine's weekly newsletter to get breaking news, exclusive features, the industry photo of the day and more.
A stable coin is simply a way of pegging a cryptocurrency to another stable asset like the U.S Dollar or gold. Crypto assets are highly volatile which makes them difficult to trade against with just Bitcoin. Stable coins provide a way of trading crypto assets without the high risk of holding the volatile assets.
Tether (USDT)
The most well-known stable coin to date is Tether (USDT). Tether is pegged to the U.S Dollar and is traded on all the largest crypto exchanges. The concept is simple, for every USDT in existence Tether claims to hold one U.S Dollar in the bank. This is without its fair share of controversy within the crypto space as Tether have never actually proven that these Dollars exists. The last auditors (Friedman LLP), hired to put everyone’s mind at ease, ended their relationship with Tether causing a significant drop in the total crypto market cap when the news was released.
TrueUSD (TUSD)
Similarly to Tether, this is a USD backed token which has been implemented as an ERC20 token on their Trust Token Platform. The main difference in terms of security is that they have USD in multiple escrow accounts to reduce the users risk and provide protection for token holders with regular auditing. The team do not have access to the funds, it is controlled by the third-party trust companies. The Trust Token platform also plan to build out other fiat currency and asset backed crypto tokens e.g. Gold, TrueYen, TrueEUR etc. The decentralized nature of the token does come into question here as it is still pegged to centralized fiat currencies.
Havven (HAV)
In contrast to Tether and TrueUSD, the idea behind Havven is to have a fully decentralized stable coin which is not pegged to a fiat currency. The Havven network will consist of two tokens:
The Haven Token?—?intended to provide collateral and its value is generated by the fees from the network.
2. Nomins (the stable coin)?—?will be backed by the collateral of the Havven token. Participants will need to lock their Havven tokens into a smart contract in order to be issued Nomins. The transaction fees from the Nomins will then go back to the Havven token holders as a reward for backing the system.
So far this is an unproven concept as the coin is not directly tied to a centralized currency. However, if successful Havven will have found a solution for keeping a decentralized token on the blockchain completely stable.
MakerDao (DAI)
Dai is created to be pegged to the U.S Dollar and backed by an asset. To create and obtain Dai, users need to lock up their valuable asset e.g. ETH into the Maker system. The stability is obtained by dynamic and autonomous interest rates which react to the emerging market conditions and change the fees and incentives to use the system.
Like what you see? Click here to sign up for Trader Magazine's weekly newsletter to get breaking news, exclusive features, the industry photo of the day and more.
A stable coin is simply a way of pegging a cryptocurrency to another stable asset like the U.S Dollar or gold. Crypto assets are highly volatile which makes them difficult to trade against with just Bitcoin. Stable coins provide a way of trading crypto assets without the high risk of holding the volatile assets.
Tether (USDT)
The most well-known stable coin to date is Tether (USDT). Tether is pegged to the U.S Dollar and is traded on all the largest crypto exchanges. The concept is simple, for every USDT in existence Tether claims to hold one U.S Dollar in the bank. This is without its fair share of controversy within the crypto space as Tether have never actually proven that these Dollars exists. The last auditors (Friedman LLP), hired to put everyone’s mind at ease, ended their relationship with Tether causing a significant drop in the total crypto market cap when the news was released.
TrueUSD (TUSD)
Similarly to Tether, this is a USD backed token which has been implemented as an ERC20 token on their Trust Token Platform. The main difference in terms of security is that they have USD in multiple escrow accounts to reduce the users risk and provide protection for token holders with regular auditing. The team do not have access to the funds, it is controlled by the third-party trust companies. The Trust Token platform also plan to build out other fiat currency and asset backed crypto tokens e.g. Gold, TrueYen, TrueEUR etc. The decentralized nature of the token does come into question here as it is still pegged to centralized fiat currencies.
Havven (HAV)
In contrast to Tether and TrueUSD, the idea behind Havven is to have a fully decentralized stable coin which is not pegged to a fiat currency. The Havven network will consist of two tokens:
The Haven Token?—?intended to provide collateral and its value is generated by the fees from the network.
2. Nomins (the stable coin)?—?will be backed by the collateral of the Havven token. Participants will need to lock their Havven tokens into a smart contract in order to be issued Nomins. The transaction fees from the Nomins will then go back to the Havven token holders as a reward for backing the system.
So far this is an unproven concept as the coin is not directly tied to a centralized currency. However, if successful Havven will have found a solution for keeping a decentralized token on the blockchain completely stable.
MakerDao (DAI)
Dai is created to be pegged to the U.S Dollar and backed by an asset. To create and obtain Dai, users need to lock up their valuable asset e.g. ETH into the Maker system. The stability is obtained by dynamic and autonomous interest rates which react to the emerging market conditions and change the fees and incentives to use the system.
Good breakdown IMO. I just think that he's missing some info for Havven since nUSD is already launched on mainnet.
One of the most stable coins is NEM. This is a platform with a high transaction speed, it can carry ICO. NEM has an open system, so it's always possible to track the turnover of funds. With the help of NEM, it will not be possible to finance terrorism or launder money. It can be integrated into the traditional financial sector, for example, for accounting. It runs 3 times faster than the Visa payment system. Than not a world single crypto currency for the planet Earth)))
hm, haven't heard of them. I've been an avid follower of havven just because they are on mainnet and exchanges. Great project nonetheless
One of the most stable coins is NEM. This is a platform with a high transaction speed, it can carry ICO. NEM has an open system, so it's always possible to track the turnover of funds. With the help of NEM, it will not be possible to finance terrorism or launder money. It can be integrated into the traditional financial sector, for example, for accounting. It runs 3 times faster than the Visa payment system. Than not a world single crypto currency for the planet Earth)))
I can see some others have beaten me to it - I’d also suggest adding BitBay to the list of stablecoins to watch. Havven is interesting but after researching them all (including the over-complicated ‘Reserve’) it seems the only truly decentralized and dynamic solution will be from BitBay.
https://bitbay.market/dynamic-peg
This is from their site: “BitBay’s democratic voting system allows for maximum resilience and elasticity during extreme volatility. In addition, $BAY’s liquid supply can also be tied to a basket of separate currencies, assets, or commodities as necessary.“
Their lead dev is David Zimbeck, the same guy who created the first ever smart contract GUI so I’m watching this with anticipation...
https://bitbay.market/dynamic-peg
This is from their site: “BitBay’s democratic voting system allows for maximum resilience and elasticity during extreme volatility. In addition, $BAY’s liquid supply can also be tied to a basket of separate currencies, assets, or commodities as necessary.“
Their lead dev is David Zimbeck, the same guy who created the first ever smart contract GUI so I’m watching this with anticipation...
dude stop shilling bitbay. out of all of those options, havven is my favorite. besides your shilling, I will look into them and see what you're tlaking about
I can see some others have beaten me to it - I’d also suggest adding BitBay to the list of stablecoins to watch. Havven is interesting but after researching them all (including the over-complicated ‘Reserve’) it seems the only truly decentralized and dynamic solution will be from BitBay.
https://bitbay.market/dynamic-peg
This is from their site: “BitBay’s democratic voting system allows for maximum resilience and elasticity during extreme volatility. In addition, $BAY’s liquid supply can also be tied to a basket of separate currencies, assets, or commodities as necessary.“
Their lead dev is David Zimbeck, the same guy who created the first ever smart contract GUI so I’m watching this with anticipation...
https://bitbay.market/dynamic-peg
This is from their site: “BitBay’s democratic voting system allows for maximum resilience and elasticity during extreme volatility. In addition, $BAY’s liquid supply can also be tied to a basket of separate currencies, assets, or commodities as necessary.“
Their lead dev is David Zimbeck, the same guy who created the first ever smart contract GUI so I’m watching this with anticipation...
Interesting article. Was a good read. However, I don't think that there is a stable coin or token in this extremely volatile cryptocurrency market. Every single coin and token is prone to extreme fluctuations in the short term and long term in this sensitive market. Among the coins mentioned in the article, Havven seemed legit in my opinion while Tether seems unreliable after the recent drama in my opinion. Never heard about TrueUsd and MakerDao, but they have definitely peaked my interest currently.
Havven is my favorite for many reasons:
-decentralized
-not pegged to fiat
-dual token system is very interesting
-great team
-lots of partnerships
-been committed to delivering on their timeline ahead of time
-the dual token system is very fast
yeah, I still ETH. actually, stable coin can't be predicted. there is a lot of things can be influencing it but as long as it coin can make a profitable I say that's a coin is stable.
stable coin does not fit my crypto money mantle according to me. I think that's what broke the decentralization situation in crypto money.
True Usd seems to be a pretty safe option. Also, i like Havven because it will be a decentralized version of stablecoin, and this is what the community wants from crypto- complete decentralization.
Interesting article. Was a good read. However, I don't think that there is a stable coin or token in this extremely volatile cryptocurrency market. Every single coin and token is prone to extreme fluctuations in the short term and long term in this sensitive market. Among the coins mentioned in the article, Havven seemed legit in my opinion while Tether seems unreliable after the recent drama in my opinion. Never heard about TrueUsd and MakerDao, but they have definitely peaked my interest currently.
@cr197 thanks for bringing this up
BitBay will have a go into stablecoin land in a matter of 2-3 months with a working version of dynamic peg thus its going to be battle tested
so it does not matter if it is mentioned anywhere as it can prove its value on usage ...
BitBay will have a go into stablecoin land in a matter of 2-3 months with a working version of dynamic peg thus its going to be battle tested
so it does not matter if it is mentioned anywhere as it can prove its value on usage ...
They are the latest craze for sure.
This website is doing a very good job of trying to track them all. Yet their others not listed on it.
https://stablecoinindex.com/projects/
My favorite coming up is BitBay's soft peg.
It's not in the spot light yet because the whitepaper hasn't been released yet. The developer doesn't want too many copycats before the cat is out of the bag. The release date for the whitepaper is on July 13th. BitBay.Market
It will have a much more advanced protocol than any other I've researched to date. No collateral is needed. And since collateral requires trust, the BitBay peg is truly decentralized. Based on the stablecoin website I provided, BitBay would be closest to the 'algorithmic supply stablecoin' category but because it also allows coin holders to vote through staking on what they believe is fair market price, then it doesn't rely solely on an algorithm to stabilize it. Thus, it is sort of in a hybrid algorithm category of it's own.
Since it's a soft peg, it doesn't have to maintain a single value. It can still fluctuate, yet it removes the volatility, and therefore allows for users to circulate it as a currency without the fear of losing significant profit potential.
BitBay's soft peg will be the first peg in the history of crypto that will apply a peg to the coin after the ICO has been launched. This is going to make things interesting because the value of the peg has yet to be set in stone once released in September of this year. how the market reacts to the peg before the release will determine the starting price once implemented.
The point being is that while all the other stablecoins are starting out as an ICO, and as far as I know all or mostly 'hard pegged', then there is little room for early adopters to reap any benefits. Yet BitBay's peg implementation has the ability for people to speculate and potentially lock in a nice ROI by the time the peg is released. As time and interest progresses the developer will be able to determine best starting price.
BitBay's peak price was just over 0.40 USD in January of 2018. Currently it's selling around 0.022 USD. The developer has mentioned that it won't be anywhere near it's current value.
There are many benefits of being a soft peg over a hard peg. My main curiosity comes from the comparison of how day traders can use a soft peg to their advantage over a hard peg in regards to strategically hedging their capital back and forth between other 'volatile' cryptocurrencies. A soft peg allows for the trader to hedge in a way that opens the possibility of higher ROI compared to a hard pegged currency, because the price of a soft peg can fluctuate while hedging. And with the current state of the industries price movement being in a prodominantly positive correlation to the price movement of Bitcoin, then the idea that BitBay can provide a higher ROI from hedging would be the natural result, i.e., if Bitcoin goes down in value, demand for BitBay will go up and drive price up. And visa versa, when Bitcoin goes up in value, hedgers would return back to Bitcoin (and others). The early bird trader would catch the biggest worm in the process of it all. Where as a hard peg only secures your capital at the expense of a loss due to market spread and trade fees.
There are so many other things to discuss about it's design. But the main purpose of the matter is that BitBay will be the first coin in the industry to have solved Crypto 1.0 and Crypto 2.0, which are the ability to trustlessly remove the middleman in it's entirety, and the ability to stabilize the price so that it can actually be used as a currency.
Again, 2 weeks till the whitepaper is released. So far the BitBay developer has yet to see any other stablecoin whitepaper remotely close to his approach at solving volatility in a trustless manner.
BitBay.Market
Once the paper is released BitBay will go in full marketing mode for it.
This website is doing a very good job of trying to track them all. Yet their others not listed on it.
https://stablecoinindex.com/projects/
My favorite coming up is BitBay's soft peg.
It's not in the spot light yet because the whitepaper hasn't been released yet. The developer doesn't want too many copycats before the cat is out of the bag. The release date for the whitepaper is on July 13th. BitBay.Market
It will have a much more advanced protocol than any other I've researched to date. No collateral is needed. And since collateral requires trust, the BitBay peg is truly decentralized. Based on the stablecoin website I provided, BitBay would be closest to the 'algorithmic supply stablecoin' category but because it also allows coin holders to vote through staking on what they believe is fair market price, then it doesn't rely solely on an algorithm to stabilize it. Thus, it is sort of in a hybrid algorithm category of it's own.
Since it's a soft peg, it doesn't have to maintain a single value. It can still fluctuate, yet it removes the volatility, and therefore allows for users to circulate it as a currency without the fear of losing significant profit potential.
BitBay's soft peg will be the first peg in the history of crypto that will apply a peg to the coin after the ICO has been launched. This is going to make things interesting because the value of the peg has yet to be set in stone once released in September of this year. how the market reacts to the peg before the release will determine the starting price once implemented.
The point being is that while all the other stablecoins are starting out as an ICO, and as far as I know all or mostly 'hard pegged', then there is little room for early adopters to reap any benefits. Yet BitBay's peg implementation has the ability for people to speculate and potentially lock in a nice ROI by the time the peg is released. As time and interest progresses the developer will be able to determine best starting price.
BitBay's peak price was just over 0.40 USD in January of 2018. Currently it's selling around 0.022 USD. The developer has mentioned that it won't be anywhere near it's current value.
There are many benefits of being a soft peg over a hard peg. My main curiosity comes from the comparison of how day traders can use a soft peg to their advantage over a hard peg in regards to strategically hedging their capital back and forth between other 'volatile' cryptocurrencies. A soft peg allows for the trader to hedge in a way that opens the possibility of higher ROI compared to a hard pegged currency, because the price of a soft peg can fluctuate while hedging. And with the current state of the industries price movement being in a prodominantly positive correlation to the price movement of Bitcoin, then the idea that BitBay can provide a higher ROI from hedging would be the natural result, i.e., if Bitcoin goes down in value, demand for BitBay will go up and drive price up. And visa versa, when Bitcoin goes up in value, hedgers would return back to Bitcoin (and others). The early bird trader would catch the biggest worm in the process of it all. Where as a hard peg only secures your capital at the expense of a loss due to market spread and trade fees.
There are so many other things to discuss about it's design. But the main purpose of the matter is that BitBay will be the first coin in the industry to have solved Crypto 1.0 and Crypto 2.0, which are the ability to trustlessly remove the middleman in it's entirety, and the ability to stabilize the price so that it can actually be used as a currency.
Again, 2 weeks till the whitepaper is released. So far the BitBay developer has yet to see any other stablecoin whitepaper remotely close to his approach at solving volatility in a trustless manner.
BitBay.Market
Once the paper is released BitBay will go in full marketing mode for it.
Good read about the top stablecoins in the space. Which ones are your favorite? My personal favorite is Havven.
Article: http://www.tradersmagazine.com/news/cryptocurrencies/the-crypto-stable-coins-that-you-need-to-know-about-117854-1.html
I'll copy/paste here:
Article: http://www.tradersmagazine.com/news/cryptocurrencies/the-crypto-stable-coins-that-you-need-to-know-about-117854-1.html
I'll copy/paste here:
Quote
For those of you who are confused over the recent introduction of more stable coins, I don’t blame you. It seems like everyone is throwing their ideas into the hat. So, let me break them down for you to make it a little simpler. What are stable coins? Why are they important?
Like what you see? Click here to sign up for Trader Magazine's weekly newsletter to get breaking news, exclusive features, the industry photo of the day and more.
A stable coin is simply a way of pegging a cryptocurrency to another stable asset like the U.S Dollar or gold. Crypto assets are highly volatile which makes them difficult to trade against with just Bitcoin. Stable coins provide a way of trading crypto assets without the high risk of holding the volatile assets.
Tether (USDT)
The most well-known stable coin to date is Tether (USDT). Tether is pegged to the U.S Dollar and is traded on all the largest crypto exchanges. The concept is simple, for every USDT in existence Tether claims to hold one U.S Dollar in the bank. This is without its fair share of controversy within the crypto space as Tether have never actually proven that these Dollars exists. The last auditors (Friedman LLP), hired to put everyone’s mind at ease, ended their relationship with Tether causing a significant drop in the total crypto market cap when the news was released.
TrueUSD (TUSD)
Similarly to Tether, this is a USD backed token which has been implemented as an ERC20 token on their Trust Token Platform. The main difference in terms of security is that they have USD in multiple escrow accounts to reduce the users risk and provide protection for token holders with regular auditing. The team do not have access to the funds, it is controlled by the third-party trust companies. The Trust Token platform also plan to build out other fiat currency and asset backed crypto tokens e.g. Gold, TrueYen, TrueEUR etc. The decentralized nature of the token does come into question here as it is still pegged to centralized fiat currencies.
Havven (HAV)
In contrast to Tether and TrueUSD, the idea behind Havven is to have a fully decentralized stable coin which is not pegged to a fiat currency. The Havven network will consist of two tokens:
The Haven Token?—?intended to provide collateral and its value is generated by the fees from the network.
2. Nomins (the stable coin)?—?will be backed by the collateral of the Havven token. Participants will need to lock their Havven tokens into a smart contract in order to be issued Nomins. The transaction fees from the Nomins will then go back to the Havven token holders as a reward for backing the system.
So far this is an unproven concept as the coin is not directly tied to a centralized currency. However, if successful Havven will have found a solution for keeping a decentralized token on the blockchain completely stable.
MakerDao (DAI)
Dai is created to be pegged to the U.S Dollar and backed by an asset. To create and obtain Dai, users need to lock up their valuable asset e.g. ETH into the Maker system. The stability is obtained by dynamic and autonomous interest rates which react to the emerging market conditions and change the fees and incentives to use the system.
Like what you see? Click here to sign up for Trader Magazine's weekly newsletter to get breaking news, exclusive features, the industry photo of the day and more.
A stable coin is simply a way of pegging a cryptocurrency to another stable asset like the U.S Dollar or gold. Crypto assets are highly volatile which makes them difficult to trade against with just Bitcoin. Stable coins provide a way of trading crypto assets without the high risk of holding the volatile assets.
Tether (USDT)
The most well-known stable coin to date is Tether (USDT). Tether is pegged to the U.S Dollar and is traded on all the largest crypto exchanges. The concept is simple, for every USDT in existence Tether claims to hold one U.S Dollar in the bank. This is without its fair share of controversy within the crypto space as Tether have never actually proven that these Dollars exists. The last auditors (Friedman LLP), hired to put everyone’s mind at ease, ended their relationship with Tether causing a significant drop in the total crypto market cap when the news was released.
TrueUSD (TUSD)
Similarly to Tether, this is a USD backed token which has been implemented as an ERC20 token on their Trust Token Platform. The main difference in terms of security is that they have USD in multiple escrow accounts to reduce the users risk and provide protection for token holders with regular auditing. The team do not have access to the funds, it is controlled by the third-party trust companies. The Trust Token platform also plan to build out other fiat currency and asset backed crypto tokens e.g. Gold, TrueYen, TrueEUR etc. The decentralized nature of the token does come into question here as it is still pegged to centralized fiat currencies.
Havven (HAV)
In contrast to Tether and TrueUSD, the idea behind Havven is to have a fully decentralized stable coin which is not pegged to a fiat currency. The Havven network will consist of two tokens:
The Haven Token?—?intended to provide collateral and its value is generated by the fees from the network.
2. Nomins (the stable coin)?—?will be backed by the collateral of the Havven token. Participants will need to lock their Havven tokens into a smart contract in order to be issued Nomins. The transaction fees from the Nomins will then go back to the Havven token holders as a reward for backing the system.
So far this is an unproven concept as the coin is not directly tied to a centralized currency. However, if successful Havven will have found a solution for keeping a decentralized token on the blockchain completely stable.
MakerDao (DAI)
Dai is created to be pegged to the U.S Dollar and backed by an asset. To create and obtain Dai, users need to lock up their valuable asset e.g. ETH into the Maker system. The stability is obtained by dynamic and autonomous interest rates which react to the emerging market conditions and change the fees and incentives to use the system.
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