-HOW STABLE COINS WORK?-

UPDATE 31.10.

In the effort to make stable coins as open and accessible as possible, we decided to perform a series of stable coins reviews. We will ask current active project to answer these questions that are of public interest. We encourage you to take a look at them, tell us what you think and suggest additional questions if something is missing.

This is your chance to ask what you want to know!

These stablecoins will be reviewed: TrueUSD, GLX, AAA Coin, Gemini Dollar and USDC.

QUESTIONS

LEGAL

1. How is the stable coin project registered? (as an open consortium, company, group…)

2. If a company is behind the stable coin:

a)Basic info about the company jurisdiction + licence headquarters, address, contact founders capital b) Management of the company? (official records)

3. Community work

a)Social media accounts and number of followers

FUNDRAISING

1. Did the stablecoin run an ICO?

a) If yes, what is the amount of money raised in ICO? b)All records about the ICO? i) presale, ii) private sale, iii) soft / hard cap iv) milestones

STABLE COIN

1. Type of stable coin?

2. Name and description?

3. How it works?

4. Is the stable coin active?

a) If yes, where is it listed? b) What are its trading pairs? c) What is its daily trade? d) Number of users? e) Market cap and circulating supply?

TECHNICAL

1. Operating blockchain and type of coin?

a) If it is operating on Ethereum, where are smart contracts stored? b) Is there a public and open code on github? c) Has anyone performed smart contract audit and who? d) Is the smart contract’s audit public? e) Has the stable coin been tested? How, when, and where are the results?

2. Current blockchain transaction overview?

a) number of holders? b) holders’ structure? c) total number of transactions?

3. Supported wallets?

4. How to purchase the stable coin?

a) procedure for buying with fiat?

5. How to exit from stable coin?

a) procedure for going back to fiat?

SECURITY + AUDIT

1. Does the stable coin has an independent audit company?

2. Is the underlining asset secured and how?

3. Which audit company performed the audit?

4. Where can we find this audit?

a)Is the audit public? b) Is the audit private? i) If it is private, can the user access it and how?

UPDATE

To make it easier for all participants who want to share their opinion on stablecoins standardized questionnaire, we made a google form, that you are more than welcome to complete — STABLECOINS STANDARDIZED QUESTIONNAIRE — SURVEY

Your thoughts matter to us!