Platinum Q DAO Engineering: “The great story of stablecoins USDQ, KRWQ, CNYQ, JPYQ will never be any close to the Tether’s USDT scandal”. An exclusive and simple explanation of how to develop the most reliable stablecoin from BTCNEXT developers.
Anton Dzyatkovskiy is a blockchain architect lead of Platinum Q DAO Engineering, entrepreneur, negotiator. He is a passionate and hardworking business leader with more than 13 years of experience in different positions within FinTech, Retail, and E-Commerce. Experienced in expanding financial businesses to totally new markets. Moreover, Anton is a co-founder of Platinum Q DAO Engineering where he helps develop USDQ and KRWQ, a fully decentralized stablecoin that simplifies Bitcoin collateralization.
USDQ/KRWQ is a new stablecoin that is going to burst into the cryptocurrency market in the nearest future. It represents a decentralized token backed by Bitcoin or other top-10 cryptocurrencies in the future whose value will be always equal to USD 1. Unlike unreliable Tether (USDT) and other stablecoins backed by fiat money, USDQ’s advantages will be stability and transparency. Holders will be able to use USDQ/KRWQ as any other digital assets: contribute, trade, exchange, make payments, and much more. Moreover, KRWQ - a stablecoin pegged to Korean Won will be attached to Q DAO family. This will not only make a huge impact on the local Korean market but also to the whole Asian region.
The main disadvantage of cryptocurrencies is their instability, due to which people are afraid to widely apply them for transactions or as a financial provision. We design the USDQ and KRWQ token to mitigate the market risks caused by the high volatility of virtual coins.
What Is Q DAO, USDQ, and KRWQ?
Q DAO is a governance token that will be based on the Ethereum blockchain - ERC20 standard. Its task is to allow users to govern their USDQ/KRWQ coins. With Q DAO, holders will be able to pay for fees when they want to exchange their collateral in Bitcoin or other cryptocurrencies or when they vote for some changes made throughout the ecosystem.
What is USDQ’s Stability?
The USDQ’s price will be always fixed at USD 1 in spite of any market events. How will USDQ/KRWQ keep its value, and by what is it distinguished from Tether (USDT)? As you know, this token is backed by US dollars, USD 1 for USDT 1. The crypto community is concerned about the fact that there are more than 2 billion USDT tokens, and it is unclear whether the company has this amount of money. That’s why users cannot be fully confident in Tether. USDQ/KRWQ offers another concept built on transparency and trust.
Customers can acquire USDQ/KRWQ tokens in two ways. The first one is to buy them on the cryptocurrency exchange. We will initially list the stablecoin on the following trading platforms: BTCNext, CoinBene, and BTCAlfa. Then we will expand the list of exchanges. The second way is to get USDQ/KRWQ as collateral in BTC for now or other top 10 coins in the future. Users should send a certain amount of their digital assets through the website and receive the specified quantity of stablecoins. It’s just like you take a bank credit.
What is the point? Imaging that you want to buy some cryptocurrency and wait when its price reduces. But you should take into account that when the market declines, all the cryptocurrencies drop, too.
This means that the value of crypto that you save to purchase the required tokens will also lose. Everything changes when you have stablecoins. Their prices will be always maintained in spite of market behavior. Wait until the prices go down, buy with USDQ/KRWQ, and make a profit!
You can use USDQ or KRWQ in many other ways, but its main task is to maintain stability. Nevertheless, how will the USDQ and KRWQ ecosystem behave if the collateral value falls to the critical mark?
How will USDQ/KRWQ and Q DAO save your money?
Don’t worry! The system won’t shut down! If the collateral price falls, the system will issue new Q DAO coins so that the users will be able to sell them. As a result, the Q DAO value will reduce because more coins will appear in the market. When the collateral price doesn’t change or grows, the users won’t need more Q DAO coins. Then Q DAO will burn while its price will jump! Q DAO will lose its value only when the market declines, and even in this case, its price is expected to be high.
Is It Worth To Acquire USDQ/KRWQ and Q DAO?
Yes, I’m confident that it’s worth to contribute to USDQ/KRWQ and Q DAO. The users will be able to buy the tokens soon and store them in their wallets until their value goes up.
I’ve already told you a lot why to pay your attention to the Q DAO tokens. Our team has launched the USDQ and KRWQ ecosystem, and you’ll be able to test it soon. Recall that your Q DAO gives you a voting power within the USDQ/KRWQ platform while the USDQ/KRWQ stablecoin provides stability. The only question left would be to either invest or not to invest in the Q DAO coins.
Final Glance At USDQ and KRWQ
In my opinion, USDQ/KRWQ has great potential to gain popularity in the market. Thanks to its decentralized nature, banks and other financial institutions won’t be able to control the token. The special tools created by the Platinum Q DAO Engineering specialists will ensure the stability and transparency of the whole USDQ/KRWQ ecosystem. These USDQ/KRWQ features will help Q DAO become more broadly adopted.
BTCNEXT Exchange is a next-generation spot and margin trading platform by the PLATINUM Q DAO ENGINEERING team. It is the first Strategic business partner of USDQ/KRWQ stablecoin.
About PLATINUM Q DAO ENGINEERING
USDQ/KRWQ is brought by the PLATINUM Q DAO ENGINEERING team, as a measure to develop a high-endurance stable coin that uses innovative solutions in collateralization, price stabilization mechanisms, and oracles.
Visit https://platinum.fund/usdq/ for latest updates about USDQ (and KRWQ - soon)
Visit now Official Telegram chat to learn about the latest development hacks.
Dive in Official Kakao Talk to ask questions in Korean directly to Platinum Q Dao management team.