USDQ becomes first of Q DAO stable coins to be listed on Bancor Network. Q DAO token will follow in near-future Platinum Follow Jul 13, 2019 · 4 min read

I am glad to announce, on behalf of Platinum Q DAO Engineering, a new listing for our family of stable coins. USDQ is now our first stable coin to be listed on the Bancor Network. The stable assets USDQ, KRWQ, CNYQ, and JPYQ are completely decentralized and fully backed by Bitcoin deposits.

Trade without having to find a peer

The Bancor Network and the Bancor Protocol allow users of the platform to convert tokens without having to trade them with another peer. This technology allows smart contracts to connect with their own liquidity network for continuous on-chain liquidity effectively eliminating the need for each buyer having to find a seller, and vice-versa. The cryptocurrency exchange uses its own Bancor Protocol to autonomously and continuously convert tokens at algorithmically calculated rates.

Bancor is aimed at becoming the new standard for cryptocurrency trading. Since the platform has its own automated market maker which lowers costs and pricing is handled more transparent. As an example, there is no spread, so users get low-cost conversions without even having to have a conventional order book. The continuous liquidity feature allows you to trade a token at any time even if you are a buyer or a seller of any trade volume.

The Q DAO Ecosystem

Since the smart contract mechanism of the Q DAO ecosystem adjusts and manages the issuance of USDQ and our other stable coins it guarantees that each token is issued with proper backing. And now, users of Bancor will be able to buy and sell USDQ while using it for its main purpose as a stable coin to protect against volatility.

The Q DAO governance token, which is used to adjust the deposit collateralization, payback fees, and allow holders to participate in the voting concerning hedging the risks within the system will follow listing on Bancor soon.

“During these past year, we have been working tirelessly on building a more solid and robust suite of stable coins that are fully decentralized and transparent. Today, we continue to take steps in the right direction of achieving that mission. Getting listings is important for USDQ to work for everyone. We want to make sure this new and improved stable coin is available for all. Users that are looking for a solution against volatility will be pleased to find USDQ. We thank Bancor for this opportunity and for believing in USDQ. Our next achievement will be listing of Q DAO in the very near future!” — Platinum Q DAO Engineering Co-Founder, Anton Dziatkovskii.

One of its kind ERC-20 decentralized stable asset

The benefits that make USDQ, KRWQ, CNYQ, and JPYQ so different from other available stable coins in the market is transparency, decentralization, and the fact that they are completely backed by the value of Bitcoin. The Q DAO ecosystem and its smart contract manage the issuance of tokens, the levels of collateralization, and is in charge of locking up the BTC deposited. This last component works like an insurance for each token issued and is called a Collateralized Debt Position (CDP). If the price of BTC goes down below a certain acceptable threshold, as an example, then the BTC inside the CDPs are auctioned and sold for more USDQ until there is enough USDQ to pay back what was extracted from the CDP. Every USDQ, KRWQ, CNYQ and JPYQ is able to keep the peg to its fiat counterpart using this mechanism. The most popular stable coins out there do not have this kind of insurance guarantee which makes our Q DAO stable coins more reliable.

The Q DAO token is used as a way to manage the collateralization percent. The thresholds I mentioned earlier are decided by Q DAO holders using their tokens as a means to vote on making any changes to it. As of now, our Q DAO token is available for purchase on Hotbit, BTC-Alpha, and BTCNEXT. In addition to these, participants can buy Q DAO tokens during IEO as well as conducting OTC trades with discounted prices.

About Platinum Q DAO Engineering

Platinum Q DAO Engineering is an international consulting, promotion, and fundraising company building a future where all assets — from money to commodities to securities — will be digitized and can move instantaneously 24/7. 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.

Visit the website for the latest updates on USDQ, KRWQ, and JPYQ. Join the official English, Japanese or Korean Telegram chat and get regular updates on events and development. You can also join the official Line or official Kakao Talk to ask questions in Japanese and Korean directly to the Platinum Q DAO management team.

About Anton Dziatkovskii

Anton Dzyatkovskii is the blockchain architect lead of Platinum Q DAO Engineering, a passionate entrepreneur and a skilled negotiator. He is a hardworking business leader with more than 13 years of experience in different positions in FinTech, Retail, and E-Commerce. Experienced in expanding financial businesses to totally new markets. Moreover, Anton is also a co-founder of Platinum Q DAO Engineering, where he has helped to develop USDQ, JPYQ, and KRWQ, the fully decentralized stable coins that simplify Bitcoin collateralization.

About BTCNEXT

BTCNEXT is a next-generation spot and margin trading platform developed by Platinum Q DAO Engineering. The exchange is designed for beginners and delivered by experts. In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures that secure funds on every step of the trading process.

# Q DAO diary { dev.day: 404, round: 2, 18 days until ieo#3, Q DAO price: $30.76 }