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Stable Coin Development
Stablecoins made their debut in the late 2017 and early 2018, and were hailed as the “Holy Grail of Cryptocurrency”. These digital currencies are scalable and stable, and their adoption in daily use was expected to increase. Unlike volatile cryptocurrencies, stablecoins represent three units of monetary value: a unit of account, a store of value, and a medium of exchange. This key feature sets them apart from other cryptocurrencies and gives them a real-utility value.
The advent of secure, efficient, and trustless stablecoins has opened up the possibility of developing a distributed ecosystem of markets, loans, and insurance. Moreover, their use in various DApps could further increase their popularity and advocacy. As a leading Stablecoin Development Company, Blockchain App Factory offers end-to-end Stablecoin development services that encompass creation, trading, and marketing.
Decentralized Stablecoin Development
To address price volatility in cryptocurrencies, Decentralized Stablecoins have emerged as a viable solution. They offer numerous use cases in the market and provide greater financial freedom. These Stablecoins are backed by real-world assets and their holders can even participate in the governance of a blockchain network.
At Blockchain App Factory, we specialize in creating a Decentralized Stablecoin that is similar to DAI and is based on cryptocurrencies. Our Stablecoin can be easily integrated with wallets, cryptocurrency exchanges, DeFi platforms, games, and used for global remittances. It is backed by traditional currencies and commodities, and funds are secured by Ethereum blockchain-based smart contracts, which provide high economic incentives.
Our Decentralized Stablecoin offers several benefits, including instant processing of transactions, a stable maintenance of value, margin trading to respond to changing market conditions, complete freedom from central authority intervention, high resistance to transaction censorship, absence of middlemen, low trading costs, protection against economic downturns, and no governance risks.
Stable-coin Development Services
- Gold backed Cryptocurrency: This cryptocurrency is issued to represent the value of gold, where 1 gram of gold equals 1 unit of the cryptocurrency. The gram of gold is securely held by a custodian, preferably a third-party, and can be traded like any other cryptocurrency.
- Fiat backed Cryptocurrency: You can stabilize your cash reserves, such as USD, Euro, or Japanese Yen, by creating a currency backed by assets. Each coin or token issued would represent 1 unit of the respective currency, such as 1 USD, 1 Euro, or 1 Yen.
- Precious Stones backed Cryptocurrency: Create a stable market for precious stones, such as diamonds or rubies, by backing a cryptocurrency with these assets. Each unit of the cryptocurrency would represent 1 carat of the respective precious stone.
Stable-coin Development Services
- Stable Tokens: These tokens are tradable and represent the foundation of the stablecoin, with their value being closely tied to the underlying pegged asset.
- Bond Tokens: Bond tokens, also known as bonds, are non-tradable tokens that are created when the price of the base coins declines. They are redeemed when the tokens return to and start trading above par.
- Share Tokens: Share tokens represent a set quantity of Basis shares. In the event that all bond tokens are redeemed and the token price continues to increase, share tokens are issued as a means of stabilizing the token’s value.
Tokenization Process
The entrusted assets, such as cash, precious stones, and gold bars, will be held by a third-party trust. Before sending these assets to the trusted third-party, we will conduct KYC/AML checks to verify their authenticity through an escrow agreement. Once the assets are verified, the API will instruct the smart contracts to issue an equivalent amount of tokens and send them to the public address of the token holder.
Asset Redemption Process:
To redeem the asset, a KYC/AML verification process is mandatory. Users are required to transfer asset tokens to the smart contract from a registered wallet address, which will prompt the escrow bank to release the funds. This mechanism guarantees that the asset remains untouched by the system. All receipts are processed by the trust companies through escrow accounts.
Features of StableCoin
No Volatility
Stablecoins have the potential to revolutionize the financial industry by providing a stable and secure currency for businesses to navigate the constantly changing monetary landscape.
Financial Inclusion
The era of financial services being exclusive to a select few is coming to an end, thanks to the power of blockchain technology. With blockchain, everyone now has equal access to financial institutions, regardless of their socioeconomic status.
Resilient Stablecoin
This cryptocurrency is designed to be asset-backed, providing stability in value across jurisdictions, without fluctuations in its value, making it a truly 21st century digital currency.
Liquidity
Having assets with high liquidity can help you raise funds for your project using a secure and stable form of currency. In the event that the price of the asset increases, additional tokens can be minted to maintain stability.
Increased Exposure
The trading happens on margins due to the opening of collateralized debt obligation(CDO) thereby increasing the exposure to the underlying asset.
Governance Token
The health of the stablecoin ecosystem is influenced by risk-based decisions made by the token holder, making it their responsibility to ensure its stability.
User-friendly Mining
Cloud-based mining allows for the mining of gold-backed or currency-backed cryptocurrencies without the need for sophisticated equipment on the part of the miners.
Energy Efficient
The goal is to build an ecosystem that can orchestrate consensus at a faster speed while reducing energy usage and increasing transaction throughput.
Widespread Integration
Stablecoins are cryptocurrencies that are backed by fiat currency and widely accepted in exchanges. They can be easily traded in several exchanges, such as Bitfinex.
MORE SERVICES OFFERED
Other Crypto-related services
In addition to the aforementioned blockchain services, our company also provides Crypto Payment Gateway, Metaverse Development, and De-fi Development services.
