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USDQ is a financial cryptocurrency project in development by Platinum Q DAO ENGINEERING. We want to offer an affordable solution to the high volatility that crypto markets face with the stablecoin USDQ. A stablecoin pegged to the U.S. dollar and backed with bitcoin as collateral.
The USDQ stablecoin is expected to be one of the most prominent, once it is launched. For the uninitiated, a stablecoin is a cryptocurrency which is pegged at a value similar to that of a fiat currency, generally 1 USD. USDQ will also have its value set at $1.
In this article, Jitendra Rathod talks about USDQ – a fully decentralized stablecoin that offers reliability and easy collateralization for Bitcoin. Working as a Managing Director at PLATINUM ENGINEERING, Jitendra collaborates within the huge team to develop hi-end solutions. including the full-cycle business models for crypto projects. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under Q DAO ecosystem. He is amazed by how easy it is to use USDQ in order to obtain a Bitcoin-collateralized loan. In this article, he talks in-depth about the ways USDQ makes finance easier for anybody anywhere anytime.
Our development team, PLATINUM ENGINEERING, is working on the ecosystem, and we are set to create a decentralized mechanism enabled by the stablecoin softly pegged to USD.
USDQ is a dollar fixed stable cryptocurrency, mostly used for purposes outside of the blockchain investment idea. Saving, payments, hedging are some of the examples where USDQ can be effectively used. USDQ stays always inside the blockchain chain but also provides the stability that other cryptocurrencies lack.
First, let’s talk about the concept of DAO (decentralized autonomous organization) since USDQ is a DAO and it’s at the core of its operations. Such systems are in part driven by automated decision-making (executed by pieces of code operating on the blockchains and called “smart-contracts”), helping to govern the ecosystem and reduce fluctuations in the stablecoin prices. At the same time, the system enables humans to impact the system’s operations and make important decisions whenever they see fit. We enable Q DAO holders to have weekly meetings, during which the community votes on proposals concerning potential changes to the system.
In this story, we want to show how anybody can use USDQ to found an LLC in Austria, sidestepping bureaucracy traps and using stablecoins to make life easier.
Platinum, the international company rendering listing and other services, is now working on the decentralized USDQ token backed by Bitcoin. There are plans to launch the stablecoin in the first half of April. After the listing, the Platinum specialists will develop the USDQ ecosystem including other tokens, multicurrency robots based on artificial neural networks, cryptocurrency exchanges, and credits.
USDQ is a stablecoin, developed by the Platinum technical team. Similar to MakerDAO, it engages two tokens. The first one is USDQ, which is a peg to USD, and the second one is Governance Minable Token, acting as an internal management token, used to pay fees, vote on decisions and mine. Users can purchase USDQ via two methods – buying it on secondary markets from other users, just like any other token, or purchasing it directly from the issuer on its website. In the second case, a BTC collateral is used which ratio is determined based on current market conditions.