Does EOS have a decentralized stablecoin?

[knircky]

ETH has DAI as a working stablecoin, does something similar exist on EOS?

Comments

[vimukthi]

EOS stable coins are the mapping of major blackchain assets on the EOS.IO network. Users who hold major blockchain assets are able to swap their assets from the original bockchain network to the EOS.IO network through our gateway service, so as to utilize them in DAPPs or decentralized exchanges. EOS stable coins enrich the diversity of the EOS ecosystem and offer a convenient way for users from other blockchain networks to experience the EOS world.

The volume of stable coins in circulation is always equal to the volume of the original assets. The gateway provides a 24/7 two-way swap service; users can swap their stable coins back to the original blockchain at will. Therefore, the stable coins achieve a stable 1:1 pegging relationship with the original network assets.

Source: https://medium.com/@dice1/bitpie-cross-chain-stable-coins-more-details-3801b772e105

The stablecoin isn't completely on EOS. EOS acts like a much cheaper and efficient version of Lightning Network other coins such as USDT. At least that's how things are for the time being.

[movingman]

They now have EUSD and EBTC and also EETH!

Saw nobody answered,so hope that answers it for you 😀

Posted using Partiko Android

[knircky]

Do you know how this works?

[cicbar]

You send BTC, EOS or USDT to bitpie.com and convert them into EBTC,EETH or EUSDT to use them on EOS blockchain.

[hedge-x]

Yes, I believe you can just send any of those stable coins to an EOS address now. I’d only send a small amount to test first though. I know there is a WBTC on ETH now too. BTC becomes an ERC-20 token.

Posted using Partiko iOS

[atego]

Thank you for your Support of steem-bounty and all the best for the new Year 🌠
Merci @atego 🤗

[movingman]

I havent looked much into the workings of it, but I do know that buying EUSD, EBTC or EETH is exactly the same as buying usdt, btc or eth, your not buying any promised btc eth or usd, your actually buying a token that is and forever will be pegged to the original btc,eth and usd.
I still want to try send a small amount of lets say ETH to my eos wallet and see if its converted to EETH for example, but I dont have any other crypto at moment 🙄

Posted using Partiko Android

[iamsubbu]

I thought about stable coins on eos long time but eos is not designed for stable coin, it is better this way without a stable coin... We need to look for alternatives for stable coin liquidity, not a staking process, we already coming with REX for staking, if less tokens are available to trade, then liquidity of eos will also go down. We will get less people to use it.

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