USDQ - Platinum QDAO StableCoins

Introduction

The following review, is a detailed summary and analysis about the USDQ Project. This will be helpful for everyone who wants to learn more and get an objective view about the USDQ Project.

USDQ

USDQ is a platform that makes assets stable and truly decentralized. USDQ is one of its kind ERC-20 decentralized stable asset.

Stablecoin

Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some "stable" asset or basket of assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities. The cryptocurrencies that are increasingly gaining attraction — are much more fixed than normal cryptocurrencies. This is because their values are pegged to other assets such as the US dollar or gold.

Here, the stablecoins (USDQ, KRWQ and others) can be generated by any person who has Bitcoins at their disposal. Subsequently, these ERC-20 tokens can easily fulfill a wide range of functions, acting similar to other cryptocurrencies. Among the biggest use cases are cross-border value transfers, payments for goods and services to accepting businesses, as well as long-term savings. Additionally, the stablecoin generation system sets the foundation for a highly convenient and robust margin trading platform.

The QDAO Stablecoin Ecosystem

QDAO is a blockchain platform, integrated with Ethereum smart contracts. It provides a number of enablers for sustainability of the generated stablecoins, such as CDPs (collateralized debt positions), automated price adjustment processes with feedback mechanisms, as well as a system of incentives for external actors.

With QDAO Platform, users can generate various stablecoins, currently USDQ and KRWQ are available. USDQ uses Bitcoin as its collateral, i.e. in order to create USDQ users need to lock up their Bitcoins in a smart contract. The stablecoin's price is pegged to United States Dollar. Stablecoins are seen as an important enabler, paving the path toward mass adoption of DLT-powered digital currencies. In contrast to other stablecoins on the market, USDQ is fully decentralized with all of its components residing on top of the blockchain. The KRWQ (and other stablecoins, planned to be launched in the future) act in the similar way, but are pegged to their specific fiats (KRW for KRWQ). In order to simplify the description, we are referring below only to USDQ, but the reader should understand that the same always applies to all other stablecoins, such as currently available (KRWQ) and planned (CNYQ, JPYQ and others).

Collateralized Debt Position(CDP)

CDPs are simultaneously used to mint USDQ and accrue the debt. The user can withdraw the Collateral Assets at any time upon repayment of the USDQ amount, equal to the loan originally received. CDPs implement the "excessive collateralization" principle, assuring that the debt value never exceeds the value of the Collateral Assets. The technique enables CDPs to dampen a negative impact from sudden price movements for the Collateral Assets.

With this project, there are Five(5) stages associated with the process for CDP Operations. These stages is discussed below.

Stage 1: CDP Creation
The user registers at Q DAO Platform. The user needs to specify only the email, so that the ecosystem can furnish notifications on important events. In this way, we assure a high level of anonymity. The user receives the wallet and 3 private keys (private key to user's BTC wallet, private key to our network and private key to Ether network (with the last key provided optionally)), used to access various functions within the ecosystem.

Stage 2: CDP Activation
The user transfers a required amount in BTC to their BTC wallet within the Q DAO Platform. Then, the user sets the desired parameters for the loan to be obtained.

Stage 3: USDQ Generation
The ecosystem checks the availability of the required amount of the collateralized assets (for instance, Bitcoins, which the user has previously collateralized within the system). Upon a successful completion of the verification, the ecosystem mints the respective amount of USDQ and furnishes the same to the user's wallet. Now the user can utilize the received stablecoin as he wishes.

Stage 4: Equilibrating Collateral
Subsequently, the user can adjust the collateral depending on the changes to the collateral price. Should the collateral's price go down, the user must add up the collateral or repay a portion of the USDQ-denominated loan. If the user fails to take any action, the ecosystem will perform the forced liquidation process. Should the collateral's price go up, the user can increase the USDQ-denominated loan amount, withdraw a portion of the collateral or avoid taking any action at all.

Stage 5: Withdrawal
The user furnishes a request to the ecosystem for the funds withdrawal. The user should repay to the ecosystem the earlier received USDQ-denominated loan and the Stability Fee, which accrues throughout the loan term and payable in Q DAO token. The user utilizes the private key in order to sign the transaction, enabling the user to get the collateral assets back to his wallet.

Hot to get USDQ

Via the OTC desk. It takes more time, but it’s much more profitable, as they are sold with a discount there. All tokens bought via the desk, get frozen for a certain period of time but with its own bonuses.

Go to Hotbit or BTC-Alpha since they have listed Q DAO recently. By making a purchase on the exchange, you don’t have to deal with lock-ups, and you can start trading tokens immediately, but you have to pay the full price.

And, you can participate in the Q DAO IEO conducted on BTCNEXT. The first round is already completed and the second round started on the 1st July of 2019.

Get USDQ through IEO at BTCNEXT exchange. Also USDQ is already trading at Btcnext,Btc-Alpha,HotBit
https://my.btcnext.io/advanced
https://btc-alpha.com/en/exchange/BTC_USDQ/
https://www.hotbit.io/exchange?symbol=USDQ_USDT

USDQ Price

The smart contract ensures 1 USDQ = 1 USD.
The USDQ token is connected to Q Boxes, Q Boxes influences the ecosystem by adjusting the human factors at the point of decision making. As a result, the 1 USDQ in the secondary market will always be stabilized due to actions of traders and change of the number of USDQ which are in circulation.

Team Members

The QDAO team comprises of topnotch professionals in their domains. They have ambitious goals  which will enable them to set new standards for the Market. To achieve this goal a strong Team is built with all the necessary skills, talents and long-time experience needed for the project. Most of the team members on QDAO have verified LinkedIn profiles. This is all good because the more transparency a company have in regard to their team, the more trustworthy they typically are. Platinum Q DAO Engineering employs over 100 specialists who have extensive experience in marketing and PR, management, consulting, programming, cyber-security, education, legal advisory, and many more! The company’s mission is to make people’s lives better and facilitate economic growth by developing cutting-edge products that provide trustworthy, safe, and seamless access to any virtual assets.

Conclusion

USDQ is a collateral backed asset soft-pegged to the US dollar. Nevertheless, USDQ does not have a centralized party that maintains the fluctuability near zero. This one works in combination with the Q DAO token, a more stable coin than others in the market due to the way their value is calculated. Q DAO token does not have any fluctuation restriction, that’s why it’s role is very important in the ecosystem. The users can easily generate USDQ by providing a BTC backed amount depending on the amount of USDQ they want to issue. Those funds that were converted can easily be stored in stable value with USDQ. When they consider it necessary, USDQ holders can burn the USDQ to obtain the BTC backed amount they gave at the beginning of the process.

Be a part of this project and follow these links for more information;

WEBSITE: https://usdq.platinum.fund/

WHITEPAPER: https://usdq.platinum.fund/whitepaper

ONE PAGER: https://usdq.platinum.fund/onepager

FACEBOOK: https://www.facebook.com/FundPlatinum

TWITTER: https://twitter.com/FundPlatinum

TELEGRAM: https://t.me/Platinumq

MEDIUM: https://medium.com/platinum-fund

REDDIT: https://www.reddit.com/user/Platinum_QDAO

LINKEDIN: https://www.linkedin.com/company/platinum-co/

GITHUB: https://github.com/Platinumengineering/USDQ

Author
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