Overview:

30 pegged stable assets on PegNet system can be purchased on the IDEX decentralised exchange

Most technologically advanced decentralised exchange enables 30 pegged assets to be bought and sold using digital currencies

Ownership of traded assets broadcast to Ethereum network

Zurich, 7th January: PegNet, the world’s first fully decentralised and mineable stablecoin network, has today announced that PegNet assets can be traded on IDEX, the world’s most technologically advanced decentralised exchange. Based on the Ethereum blockchain, pegged assets can be bought with digital tokens on the IDEX exchange and recorded publicly on the Ethereum network. The listing is the last in a series of moves that aim to increase both the accessibility and number of potential PegNet users.

The move comes after the recent growth of the decentralised PegNet community that has over US$1.5m in assets and a hashrate exceeding over 580 Million hash per second, a 100 times increase since its official launch in October. The community-based open source project has created a decentralised, oracle-based system that enables instant, secure and auditable transactions to take place over the Ethereum / Factom protocols, free from third parties.

David Johnston, Chairman of the Board of Factom, early PegNet Miner: We are very excited to see how listing PegNet assets will increase access and improve the ease of use for people looking to buy and sell stablecoins. With over 150,000 users, this listing will broaden access to the PegNet system and ensure people have fully auditable and integrated Stablecoins to be used in transactions free from third parties.

Pegged assets on the PegNet system are created by converting Factoid tokens (FCT) at the price set by the community of miners at the time of conversion. The growing hashrate and market capitalisation of assets on the PegNet system reinforce the security of the system as the mining power required to alter price information fed into it becomes greater. Listing on IDEX will enable all holders of ERC-20 tokens to purchase pegged assets and store them within the Ethereum protocol infrastructure.

About PegNet: Based on the Factom, Ethereum, Bitcoin protocols, PegNet operates as a fully autonomous DApp (decentralized app) that enables anyone to store up to thirty different pegged assets on the system. These include commodities (Gold / Silver), fiat currencies and cryptocurrencies. All payments and transactions costs one tenth of a penny ($0.001) irrespective of the size and are auditable on chain. The system is interoperable with Ethereum and is expanding to other popular blockchains. PegNet’s Proof of Work-based oracle systems enables the growing network of miners to feed price information into the network and receive rewards using a fraction of the energy other blockchains use thanks to its LXR Hash used for CPU mining.

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