January 15, 2019
While CUSD and EUSD are both stablecoins, the similarities end there.
CUSD is backed by dollars stored in an FDIC insured bank. The bank accounts are examined monthly by a third party accountant (Cohen and Co) who verifies that the amount of outstanding tokens is equal to the amount of dollars in the bank. Carbon has worked with some of the best American law firms (Orrick and Goodwin) to ensure that it is compliant. The tokens can be redeemed at any point for dollars. Carbon has developed a proprietary market making solution as nothing we found in the space met our high standards.
EUSD is redeemable one to 0.9995 Tether, minus gas. While Tether claims to be backed by fiat, there have never been any audits and substantial evidence points to this claim being false. To make matters more complex, only certain people are allowed to redeem, meaning that Tether usually actually trades slightly below a dollar. Many in the space fear that Tether could collapse overnight, making EUSD tokens worthless. EUSD has not engaged in substantial market making, meaning that the actual price of the asset fluctuates wildly and there is often a lack of liquidity.
Carbon, the team behind CUSD, is backed by some of the best American VC’s (General Catalyst, Firstmark, Digital Currency Group) and is composed on engineers from Stanford, Uber, Princeton, Blackrock and Barclays as well as members of the founding teams of several unicorns. Carbon is dedicated to building out the infrastructure to support CUSD and provide stability to EOS. From market making to developer resources, Carbon plans to be there for anyone who wants to use CUSD as we think the EOS community deserves better.
Carbon: https://fiat.carbon.money/
Carbon Telegram:https://t.me/carbon_money
DEXEOS Trade: https://dexeos.io/trade/
DEXEOS Telegram: https://t.me/dexeos_io
Press Contacts
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David Segura
Carbon, Chief Operating Officer
david@carbon.money
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John Ting Li
DEXEOS, Chief Executive Officer
john@dexeos.io
