Stable Coins for eCommerce
Today we are going more in depth between our partnership with Alchemint, their stablecoin SDUSD, how it works and why it is beneficial for the Phantasma Ecosystem going forward.
What is SDUSD and how does it work?
Alchemint SDUSD is the first fiat-pegged coin on NEO. Anyone can issue SDUSD by collateralizing NEO on the decentralized Alchemint platform.
You can mint SDUSD by going to the Alchemint platform to convert NEO to SNEO to add a collateral. More information can be found in the official Alchemint Guide.
eCommerce on Phantasma Chain
Phantasma Chain will have an eCommerce store for digital goods. To attract sellers to our eCommerce platform, we have to lower the commision fees substantially compared to centralized platforms. That’s possible, since our eCommerce stores are powered by blockchain, but it is also one of our goals. Besides the cheaper costs of transactions will the transactions also be much faster, decentralized & transparent.
Selling Physical Goods
Due to the volatility of the payment options, which are cryptocurrencies, could potential sellers be denounced by the risks involved, despite the lower commission fees. Most sellers and companies rely on the price of their products & services to keep their operations running smoothly, as most of them are running a business, not charities. The volatility of cryptocurrencies would mean that the margins they have might potentially go to dust. There has to be a solution.
Stablecoins are the solution for the volatility of cryptocurrencies. Sellers will be able to receive cryptocurrencies in the form of stablecoins, which would eliminate the volatility risks. By receiving a stablecoin after a sale, the sellers would receive the exact same amount of value they would want to receive for their products and services, without the risk of potentially losing value.
Our goal is to improve the user-friendliness within the crypto-space, We will support all the best dApps from all different blockchains in one app: The Phantasma App. Alchemint is a key component in our formula to succeed. SDUSD will be the first stablecoin supported by the Phantasma App, with more to come!
For more information about Phantasma Chain:
Telegram Channel: https://t.me/phantasma_io
Telegram Announement Channel: https://t.me/phantasma_announcements