SDUSD will be open for deposits on 27 Dec, 11.30am SGT (UTC+8) and trading will commence on 27 Dec, 12.00pm SGT (UTC+8).
SDUSD is an smart contract based stablecoin that is issued by Alchemint on the NEO blockchain. SDUSD offers stability relative to the U.S. dollar (1 SDUSD = $1 USD) through collateralization of NEO via a NEO smart contract. NEO is collaterized at a 150% rate for each SDUSD issued.
Details about SDUSD and the status of current CDPs (collaterized debt positions) can be viewed live via the Alchemint dashboard here.
Alchemint is a cryptocurrency stabilization system that runs on NEO’s public chain. It uses distributed ledger technology to create high-performance, application-grade encrypted digital currency and completes the mortgage of digital assets, management of collaterals value and issuance of stablecoin through intelligent contracts. Alchemint wants to create a robust, open and transparent stablecoin issuance system.
Find out more about Alchemint here:
About Switcheo Network:
Switcheo Network is the first decentralized exchange on the NEO blockchain which now allows trading of Ethereum and NEO tokens.
Our goal is to achieve a DEX network with cross-chain swapping capabilities across popular blockchains, with a focus on delivering a world-class trading experience in a trustless and decentralized environment.
For more information on Switcheo, visit the following links:
News & Updates: https://t.me/switcheoANN