Stable coin market project
I have already mentioned about this preliminary project
In this post, I explained the performance of the project in general. Of course, this plan is in its infancy and has not been completed yet, and we are completing it. Thanks
Stable coin market project
There is a distributed market that is controlled by DAO to convert XDAI/FIAT, which came to our minds due to the sanctions of some countries.
Hey @Sina
I like it… Well done!
This idea is unique in that it is governed by a DAO. I believe that anyone who runs a DeFi that sits on the border between the crypto and fiat spaces and facilitates crypto/fiat exchanges will have a considerable market. Actually, I believe that until such an approach is implemented, cryptocurrencies will be dominated by Fiats.
Thank you for your comment. Due to the sanctions and restrictions of governments in some countries whose people are under sanctions, such as Iran and the United States, which have been restricted to buying and selling currency codes by BitMax, this project is through personal communication. It is done in person and none of the governments have the ability to interfere in the transactions and the transaction is done by agreement between the buyer and the seller.
t’s an interesting idea
Perhaps it is interesting that we can take advantage of the forgotten role of the Coin, which is the exchange of money and value, through this scheme.
Let me start with an example
Suppose you are a businessman and interested in trading with other countries, if you want to convert your national currency into the currency of the country (for exchange and purchase of goods) you face several problems such as speed of money transfer, payment fee for conversion , Local or international laws and sanctions, and the risk of fraud, theft, and loss of money.
But imagine that a platform has been created where you can do this exchange in a p2p manner under the supervision of a decentralized organization, that is, the trader converts his money into a stable coin at his place of work and at his stable coin destination with the lowest possible fee. (Through sales competition in each location) Convert local currency there
It could be said that such a project would be the first bridge between the world of Fiat and the world of StableCoin, at the same time away from any obstruction and pressure from governments and international organizations, as well as a way to achieve greater financial freedom in a world full of slavery.
This is exactly the problem with Fiat’s liquidity.
Another issue is the transfer speed in this network, when I am in a hurry to be liquidated, where can I be sure that this will happen in the shortest possible time?
Because time is very important to us sometimes
We also need escrow system in here to prevent one party scamming another party.
We screw the xdai to prevent fraud, and after receiving the Fiat payment confirmation from the xdai side , the screw xdai will be released.
Yes, speed and accuracy in xdai conversion is very important, you can easily do your transaction by submite an order to buy or sell xdai on this platform, and the transaction is done in p2p.
I still do not understand what your role is?
Yes, as you indicated, we didn’t have a p2p exchange for converting Fiat to xdai until today. This platform is capable of performing exchanges at the quickest and most cost-effective rates. It is tough to do business in today’s society due to government penalties. However, you should consider doing your transactions on a peer-to-peer basis, without the need for government intervention or access to your funds.For businessman, this is a good option.
The platform’s role is to build a distributed market for converting Fiat to xdai, with p2p transactions ensuring capital security in transactions.
