Stablecoin Added to the ICONOMI Platform
More Options in Times of Volatility
After completing our ten-day campaign of adding new digital assets to the ICONOMI platform, we have a surprise: the addition of our first stablecoin, TrueUSD.
Access to a stablecoin will give DAA managers the chance to hedge in times of volatility, minimizing losses. By adding a stablecoin to our platform, we have also achieved another of the milestones we promised for 2018.
What is a stablecoin?
A stablecoin is a cryptocurrency with stable price characteristics. This stability can be achieved in different ways, such as being pegged to one or more stable assets such as the US dollar. The stablecoin we are adding to the platform is TrueUSD. In creator TrustToken’s own words:
“Our first asset token is TrueUSD, a stablecoin that you can redeem 1-for-1 for US dollars. TrustToken partners with registered banks and fiduciaries to securely hold the funds backing TrueUSD tokens.
“In the mainstream economy, most businesses still find it impractical to use digital currencies. In the decentralized economy, many decentralized applications will be difficult or impossible without a basic medium-of-exchange token.”
What does this mean for DAA managers?
Access to a stablecoin allows DAA managers to mitigate losses during times of high volatility. For example, if a market correction is expected, TrueUSD can be used in the structure of the DAA to preserve its value.
What does this mean for ICONOMI users?
Digital assets can be highly volatile. The addition of a stablecoin to the platform allows for better management of volatility, which can result in more stable DAAs that our users can buy into. It will also lead to the creation of a wider variety of DAAs for more conservative buyers.
Check the full list of digital assets available on the ICONOMI platform or go straight to exploring Digital Asset Arrays and diversify your digital portfolio with a single click!
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