Platinum Q DAO Engineering: “The great story of stablecoins USDQ, KRWQ, CNYQ, JPYQ will never be even close to the Tether’s USDT scandal”. Exclusive and simple explanation how to develop the most reliable stablecoin.
Eric Risthisen leverages over 10 years in researching and analytics in order to deliver valuable insights and strategies for blockchain-native startups. He currently works as a Blockchain Analyst at Platinum Q DAO Engineering where he helps develop USDQ, a fully decentralized stablecoin that simplifies Bitcoin collateralization.
He’s proficient in all things blockchain, including permissionless and permission chains, cross-chain integrations, tokenization mechanics and exchange architectures. He’s proud to work on the forefront of the technological curve, helping map on research techniques that will become tomorrow’s industry standards and best practices.
Eric holds Bachelor of Engineering from Thailand’s Assumption University, enabling him to immerse into the customer’s journey in an expedient and effective manner.
Eric believes that USDQ is a high-potential disruptor, ready to expand globally, propelled by a strong suit of benefits alluring both corporate and individual users. With Q DAO ecosystem planning to launch new stablecoins — JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ — he sees enormous opportunities for hedging and margin trading in substitutes for local fiats.
USDQ is a new stablecoin that is going to burst into the cryptocurrency market in the nearest future. It represents a decentralized token backed by Bitcoin or other top-10 cryptocurrencies in the future whose value will be always equal to USD 1. Unlike unreliable Tether (USDT) and other stablecoins backed by fiat money, USDQ’s advantages will be stability and transparency. Holders will be able to use USDQ as any other digital assets: contribute, trade, exchange, make payments, and much more. Moreover KRWQ — a stablecoin pegged to Korean Won will be attached to Q DAO family. This will not only make a huge impact on the local Korean market but also to the whole Asian region.
The main disadvantage of cryptocurrencies is their instability, due to which people are afraid to widely apply them for transactions or as a financial provision. We design the USDQ token to mitigate the market risks caused by the high volatility of virtual coins.
What Is Q DAO?
Q DAO is a governance token that will be based on the Ethereum blockchain — ERC20 standard. Its task is to allow users to govern their USDQ coins. With Q DAO, holders will be able to pay for fees when they want to exchange their collateral in Bitcoin or other cryptocurrencies or when they vote for some changes made throughout the ecosystem.
How will USDQ and Q DAO benefit you and burst the market? I’m going to explain everything to you right now.
What Does USDQ’s Stability Mean?
The USDQ’s price will be always fixed at USD 1 in spite of any market events. How will USDQ keep its value, and by what is it distinguished from Tether (USDT)? As you know, this token is backed by US dollars, USD 1 for USDT 1. The crypto community is concerned about the fact that there are more than 2 billion USDT tokens, and it is unclear whether the company has this amount of money. That’s why users cannot be fully confident in Tether. USDQ offers another concept built on transparency and trust.
Customers can acquire the USDQ tokens in two ways. The first one is to buy them on the cryptocurrency exchange. We will initially list the stablecoin on the following trading platforms: BTCNext, CoinBene, and BTCAlfa. Then we will expand the list of exchanges. The second way is to get USDQ as collateral in BTC for now or other top 10 coins in future. Users should send a certain amount of their digital assets through the website and receive the specified quantity of stablecoins. It’s just like you take a bank credit.
What is the point? Imaging that you want to buy some cryptocurrency and wait when its price reduces. But you should take into account that when the market declines, all the cryptocurrencies drop, too.
This means that the value of crypto that you save to purchase the required tokens will also lose. Everything changes when you have stablecoins. Their prices will be always maintained in spite of the market behavior. Wait when the prices go down, buy with USDQ, and make a profit!
You can use USDQ in many other ways, but its main task is to maintain stability. Nevertheless, how will the USDQ ecosystem behave if the collateral value falls to the critical mark?
How will USDQ and Q DAO save your money?
Don’t worry! The system won’t shut down! If the collateral price falls, the system will issue new Q DAO coins so that the users will be able to sell them. As a result, the Q DAO value will reduce because more coins will appear in the market. When the collateral price doesn’t change or grows, the users won’t need more Q DAO coins. Then Q DAO will burn while its price will jump!
We intend to issue Q DAO tokens in Q2 2019 according to our roadmap. When the coin gains popularity, its value will continuously grow. Q DAO will lose its value only when the market declines, and even in this case its price is expected to be high.
I’m totally sure that cryptocurrencies will be used everywhere in the nearest future because it’s the most reliable means of payment. We’re developing the USDQ system based on this belief. In this situation the Q DAO holders won’t have reasons to take the collateral. They will make a profit and apply their tokens to vote throughout the USDQ platform.
To learn more about the USDQ ecosystem and the stablecoin itself, visit our website or get in touch with me or other developers.
What is The Team Behind The USDQ Token?
Platinum Q DAO Engineering, an international consulting, promotion, and fundraising company, is responsible for the technical development.
Is It Worth To Acquire USDQ and Q DAO?
Yes, I’m confident that it’s worth to contribute to USDQ and Q DAO. The users will be able to buy the tokens soon and store them in their wallets until their value goes up.
I’ve already told you a lot why to pay your attention to the Q DAO tokens. Our team has launched the USDQ ecosystem, and you’ll be able to test it soon. Recall that you Q DAO gives you a voting power within the USDQ platform while the USDQ stablecoin provides stability. To invest or not to invest in the Q DAO coins?
It’s up to you. I cannot make you buy the token, but I strongly recommend you to visit our website, contact developers, dive into details, and make a right decision.
Final Glance At USDQ
In my opinion, USDQ has a great potential to gain popularity in the market. Thanks to its decentralized nature, banks and other financial institutions won’t be able to control the token. The special tools created by the Platinum Q DAO Engineering specialists will ensure the stability and transparency of the whole USDQ ecosystem. These USDQ features will help Q DAO become more broadly adopted. I believe that this token has a great potential. With USDQ and Q DAO, the community will be able to take every opportunity provided by blockchain and cryptocurrencies.
Afterword
Maybe you heard about the project MAKER DAO and their DAI?
I want to praise these guys — they are first to create a decentralized stable coin.
We occupy an honorable second place at this race, and basically, we were inspired by the technologies of MAKER`s DAI.
some Q DAO functionality is similar to MAKER DAO, so we decided to use Maker`s terminology because we do believe — their technologies should be a reference for creating any decentralized stable coins.
Why we are using BTC as collateral? 1) Bitcoin is a most liquid digital asset 2) we have many friends who are big Bitcoin holders (BTC whales) or Bitcoin OTC traders. “
We hope even so big guys like Brothers Winklevoss (Cameron Winklevoss and Tyler Winklevoss) will start to use Q DAO. They have a lot of Bitcoins, but they don’t want to sell it. So if they need money — they can pawn their bitcoins to Q DAO and immediately get USDQ.
“Why we built Q DAO based on Ether smart contracts, but not Tron (by Justin Sun) and not EOS ( by Daniel Larimer)?
Our genius engineers are love ETHEREUM because of mass adoption of this blockchain, also we respect the approach of Vitalik Buterin (we met him a few times). Maybe in the future, we will consider using TRON or EOS, in case their foundations can provide enough funds to proceed with development.
USDQ is decentralized stablecoin, which uses smart algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by Platinum Q DAO Engineering team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and neural networks for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under USDQ brand. Fully anonymous, USDQ breaks limits out of this legacy world.
BTCNEXT Exchange — next generation spot and margin trading platform by the PLATINUM Q DAO ENGINEERING team. It is the first Strategic business partner of USDQ stablecoin that is based on a DAO technology. All pairs will be listed with USDQ. BTCNEXT customer service will be happy to answer all of your questions.
Eric values readers’ opinions and invites interested parties to continue the conversation in his personal Telegram or LinkedIn. The Platinum Q DAO Engineering team strives to help budding startups figure out their options for blockchain architecture, fundraising options and marketing strategies. Connect with the team right now in Telegram or Facebook. Blockchain up your business.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates
