USDQ is a cryptocurrency stable token. Like Tether [USDT]. This essentially means that its price is stabilized or “pegged” to the US Dollar. The Q DAO platform, on the other hand, is a smart contract platform built on Ethereum. The smart contract mechanism used is referred to as Collateralized Debt Contract.
This cryptocurrency is supported by any Ethereum account and is also compatible by any smart contract developed to use the USDQ exchange function. It is more steady than most non-fiat currencies available on account of this mechanism of valuation.
The value of the USDQ stable coin is linked to the Q DAO smart contract platform using the Collateralized Debt Contract [CDC]. This means that anyone can choose to use their own assets, in this case, bitcoin [other top 10 crypto assets will be added in future], as collateral which works as a guarantee.
This is made possible by the smart contract platform. The collateral assets are locked after being deposited into the Q DAO smart contract platform and allows the owner to generate USDQ stable tokens in return while at the same time creating debt for the same owner.
This debt is necessary because it helps to maintain the collateral inside the smart contract until it is fully repaid by the amount of USDQ tokens it originally generated. When the repayment occurs then owners of the collateral can withdraw and receive their collateral back.
The ecosystem and economy of the Q DAO platform and USDQ Token directly links both of these to the amounts being used as guarantee or collaterals.
When more users request USDQ stable coins the total amount of Collateralized Debt Contacts [CDC] will increase along with it because it is the main way to obtain USDQ stable coins. This, in turn, increases the value of Q DAO tokens. These tokens are the last component of the USDQ ecosystem and they are Ethereum based tokens whose main use is to carefully manage the operations of the fund via means of a Decentralized Autonomous Organization [DAO] system.
Stablecoins give financial freedom to every user, they are not controlled by any governments or central institutions, they are scalable, effective, and transparent. Platinum Q DAO team believes that USDQ, KRWQ, and coming stablecoins attached to the Q DAO ecosystem will take a leading position in the crypto industry as a golden standard of stable coins.
The Q DAO Ecosystem comprises two coins: Q DAO and stablecoins family USDQ, KRWQ and others.
1. Q DAO: the creation of Q DAO was factored to govern the ecosystem and to pay fees inside the ecosystem. Q DAO is a cryptocurrency inside a smart contract ecosystem that works with USDQ, KRWQ, CNYQ, JPYQ and other coins. They all look to become a hedge ecosystem that helps traders keep stability in reference to other coins currently on the market.
2. USDQ, KRWQ, JPYQ and others are a decentralized stablecoins backed by bitcoin. They function by using algorithms and are pegged to USD or appropriate national currency, that is USDQ 1 = USD 1, KRWQ 1 = KRW 1 , etc.
Problem Solving:
The main problem to solve is reducing the volatility crypto trades face, and that’s exactly what USDQ and other Q DAO family stablecoins do. Each and every single stablecoin is backed with an amount of BTC safely stored with wallets which are connected to the smart contract ecosystem. Users can set long positions on USDQ and keep those funds stable without worrying about losing their money through the swings of the crypto market.
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