How can you protect from volatility? Slava Mikhalkin Platinum Q DAO developer of BTCNEXT exchange and USDQ, KRWQ, JPYQ stablecoins family explaining Platinum Follow Jul 15, 2019 · 5 min read

Platinum Q DAO engineering added a whole new section to the main site where the team members, professional developers, and security specialists will be answering various popular questions, clearing out some confusion over technical details, and telling stories about working at Platinum Q DAO. We hope that it will be interesting for developers, as well as for non-technical readers.

Today we’re having a small talk with Slava Mikhalkin — a true professional, and the team leader of Platinum Q DAO Engineering team. He worked at Platinum for a long time and definitely can tell us something interesting about his job! Particularly, we want to know his opinion about stablecoins in the crypto market.

Hello, Slava! We’re making an interview for a new section, what’s the purpose of having such a section on site, what is it all about?

Slava: Hello! Well, basically, we want to show how open we are to everyone. Our team continues to grow over time, and we always welcome new members and the members of the community, contributing to the project. By showing the inner process we want to attract new developers and advisors in order to demonstrate the progress that we make in our daily work.

What problems are you trying to solve by your work? Blockchain markets are quite new, there’s a lot of possibilities and opportunities for any team.

Slava: Currently the biggest problem on the market is the volatility. Some people like this market, because these swings that we see every day allow them to make more money than in stocks. But the other category of people, a more cautious one, there is no want to interact with this market, until they are given a confident way to protect against the volatility. That’s why we’re developing Q DAO stablecoins.

Q DAO stablecoins, what’s about them? Are they any different from another stablecoins on the market? There’s a lot of stablecoins on the crypto market already.

Slava: “Many” doesn’t mean “good”. The problem with the majority of stablecoins right now is that more than half of them, as I think, have a lack of transparency with their collateral funds. Tether is a good example, I’ve read recently that they don’t even have the full backing of their tokens. Back in the days when there were no other stablecoins, Tether was the only option to stick with. Now there’s a lot more choice, and Q DAO stablecoins solve this specific problem — centralization and a lack of transparency.

Are they decentralized?

Slava: Yes. It works as a smart contract: you send Bitcoins there and get back USDQ, JPYQ or KRWQ stablecoins. If you get bored of holding them, you can send stablecoins and get back your Bitcoins. Sounds easy, but it’s a very sophisticated thing. We’ve developed several tokens, pegged to the value of various fiat currencies: USD, Korean Won, others like Japanese Yen are in progress. The USDQ and KRWQ are already released, all the other tokens such as JPYQ and CNYQ, are going to be released very soon as well. After the release, we don’t control them. Also, recently we have listed USDQ on BTCNEXT. Now its customers can get USDQ there too.

What is BTCNEXT? Can you tell a bit more about it?

Slava: It’s an exchange, also developed by our team. We’re constantly upgrading it and making sure it is on the highest security level possible. Soon it will have margin trading added, and this feature, as far as I know, is often requested by users, and if there are no unexpected surprises on the way, then we’ll be ready to roll it out in the nearest future. Also, it’s super friendly to Korean and Japanese users, we have a lot of traffic from these countries.

Thanks for the detailed explanation for our readers. And the last question, Slava, why did you join the team and decide to work on Q DAO project?

Slava: Well, working at Platinum Q DAO is personally interesting for me, as a blockchain developer I always want some challenging tasks. If you ask any developer, what does he want to do: get his salary by sitting idle and doing nothing, or by developing some new exciting stuff? Most of them would choose active development. If you want to grow as a professional, that’s a way to go, that’s why I’m here.

We hope you’ve enjoyed reading this interview. In the future, we’ll be making more small talks on various topics with the rest of our team, stay tuned!

PLATINUM Q DAO ENGINEERING team is the technology development arm of Platinum Q DAO, the global leader in tech, advisory, and marketing services for blockchain projects. Employing over 100 specialists, it has helped raise in excess of $200 million for many projects. It is also the largest listing service provider for STO, IEO, and ICO projects.

USDQ is a decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First, run in the line of fiat-pegs, USDQ and KRWQ are brought by PLATINUM Q DAO ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, SGDQ, HKDQ, CNYQ, RUBQ, all under Q DAO brand. Fully anonymous, USDQ breaks limits out of this legacy world.

Visit the site for latest updates about 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.

BTCNEXT exchange, the next generation spot and margin-trading platform, has been developed by Platinum Q DAO Engineering, which has also brought USDQ and KRWQ to the market, looking to edge together innovative solutions in collateralization. They plan to achieve it by using stabilizing mechanisms and neural networks for high-endurance stable coins.

The one aspect of USDQ which makes it unique is that this stablecoin is decentralized. It has Bitcoin as a collateralized cryptocurrency debt backing up its value, instead of a centralized authority holding dollar bills, as in the case of Tether (USDT).

In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures. In the near future, users will be able to trade over a hundred types of tokens including Bitcoin, Ethereum, and Litecoin. For more information, visit their website and follow it on Twitter, Instagram, Telegram, Facebook, Medium, and LinkedIn.

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