Why stablecoins like USDQ, KRWQ, CNYQ, JPYQ will never fail as Tether (USDT)? The strong answer from the secret Platinum Q DAO development lab

Jack McAvoy works as a Quality Assurance Analyst at PLATINUM Q DAO ENGINEERING. The team is currently developing USDQ, a fully decentralized stablecoin that makes it easy to collateralize Bitcoin for margin trading and hedging.

Jack sees Q DAO, an ecosystem for USDQ, as a potential driver for tremendous growth. He’s convinced that the team’s plans to launch other stablecoins pegged to fiat currencies, such as JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ, will attract attention from wider trading community. Leveraging his extensive experience in software development and quality assurance, Jack has been highly successful in debugging applications, sustained by emerging technologies, such as blockchain and DLT, AI and ML, VR and AR.

Jack holds the degree from the Assumption University of Thailand, helping him quickly attain proficiency in new blockchain-based solutions and bring forward unique insights to debugging and QA processes within the team.

PLATINUM Q DAO ENGINEERING is an international company rendering listing, consulting, promotion, and fundraising services. Our team is now developing USDQ, a decentralized stable crypto asset for traders backed by cryptocurrencies and pegged to USD 1, which will help the token maintain stability in the market. As it backed by Bitcoin and smart contract ecosystem USDQ will never get into dirty situation as Tether (USDT). 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

A stablecoin is a cryptocurrency, whose cost is pegged to traditional valuable assets, such as US dollars, gems, and others. As a result, the rate volatility reduces, which makes stablecoins a steady means of exchange. In contrast to Tether, TrueUSD, or Gemini, USDQ will be backed by Bitcoin at first and by other top 10 cryptocurrencies in the future. This feature makes the token decentralized and more transparent. Also, I’d like to note that we develop the USDQ ecosystem on the Ethereum network.

Users will be able to buy the USDQ tokens on the cryptocurrency exchanges or through the smart contract. In this case, customers should leave some crypto assets as collateral in order to obtain USDQ. They will be able to use their stablecoins as any other virtual assets: to trade, exchange, transfer, save, or make payments. First of all, we plan to list our stablecoins on the following exchanges: BTCNext, CoinBene, and BTCAlpha. Keep track of our updates and don’t miss the news about the listing!

What Is Q DAO?

Q DAO is the coin that functions as a utility marker, governance token, and recapitalization resource. The Q DAO holders use the token to vote on the PLATINUM Q DAO ENGINEERING platform development or pay fees on the Collateralized Debt Contracts (CDCs) engaged in the generation of USDQ. When the users pay the fees, the USDQ tokens will burn. Like other cryptocurrencies, Q DAO is also subject to the market volatility.

What Issues Is USDQ Aimed to Solve?

Our specialists are developing USDQ to solve the crypto market volatility problem, due to which companies refuse to include digital money in their payment portfolios. Thanks to their decentralized nature, cryptocurrencies ensure fully transparent, cheap, fast, secure, and cross-border transactions. Our company is confident that stability is the key element that will make the world to accept virtual coins along with fiat money. Stablecoins, including USDQ, are called upon to build a new digital global economy.

How Will USDQ Keep Stability?

Firstly, USDQ will be backed by Bitcoin and managed through the smart contract, which helps the token to maintain stability in the secondary cryptocurrency market. Secondly, we have created a Target Rate Feedback Mechanism based on the cutting-edge technologies and developments in the field of crypto industry that is also targeted at making the token’s value stable. This mechanism will response to any severe market instabilities to maintain the USDQ’s price.

What Are CDCs, and How To Use Them To Acquire USDQ?

Since the beginners hardly know what Collateralized Debt Contracts are, it’s time to find out their role and functions. CDCs are one of the ways to obtain USDQ, the decentralized stablecoin backed by BTC. Simply put, the USDQ ecosystem acts like a bank that issues a collateral credit. A user deposits a certain amount of BTC or other coins, after which CDC generates a certain amount of stablecoins and lends them. The CDC value should be higher than that of USDQ. When the user gives USDQ back, the CDC will burn the stablecoins and send the collateral in digital assets to the user’s wallet address.

Let’s examine this process in more detail. So, the users send their digital assets to the USDQ platform in order to create CDCs and lock their currencies into them as collateral. Then the users receive a certain quantity of USDQ tokens from their CDC. In turn, CDC freezes the collateral and sets the same amount of debt. In order to withdraw the collateral, It will be required to pay the debt in USDQ and Stability fee – in Q DAO. Then the CDC users can take their collateral.

It is assumed to accept the collateral in BTC at first and then to expand the range of currencies.

What Is the Target Rate Feedback Mechanism?
The main task of the Target Rate Feedback Mechanism is to maintain the stability of the USDQ price. When the cryptocurrency market suffers from severe instability and the USDQ’s fixed peg breaks, this mechanism adjusts the USDQ Target Rate in order to make market forces keep the USDQ price stable. The Target Rate determines how much the Target Price will change in course of time. When the Target Rate is positive, this means that it’s better to hold USDQ. If it’s negative, it’s time to borrow USDQ. When the Target Rate Feedback Mechanism is not used, the USDQ Target Rate is fixed at 0%.

How Does Global Resolution Functions?

The Global Resolution was created to ensure that USDQ will maintain the Target Price. Its task is to close the USDQ ecosystem and guarantee that the borrowers and USDQ holders receive the required amount of their assets. The users should vote to activate this process in case of emergency, such as hacking, system upgrade, security violation, and others.

What Opportunities Does USDQ Provide?

I believe that USDQ will be able to solve the high volatility problem that impedes the mass adoption of cryptocurrencies worldwide. Since the USDQ token is backed by BTC or other cryptocurrencies in the future, it will allow the stablecoin to remain stable in spite of the market fluctuations. Since USDQ is a decentralized token, its holders will be able to monitor all the transactions.

With the CDCs, the users can participate in the marginal trading. The USDQ ecosystem provides the borrowers with reasonable prices and ensures a high security level.

Conclusion

The USDQ stablecoin is a decentralized token backed by BTC or other virtual coins in the future, whose strengths are stability and transparency. This means that the holders will be able to use it as a usual digital asset for trading, contribution, exchange, payments, etc. without concerning about the price fluctuations and market volatility. Our team will utilize a number of tools to keep the USDQ value stable.


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 MAKERs DAI. some Q DAO functionality is similar to MAKER DAO, so we decided to use Makers 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 Ethereum 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.
Jack values readers’ opinions and invites interested parties to continue the conversation in Telegram or LinkedIn. Diligent approach to debugging and iterative UI development, practiced by PLATINUM ENGINEERING, underlies all the team’s projects. Startups looking for high-performance fundraising solutions will win from flexible and customizable fundraising solutions offered by the outlet. QA can be a big headache. Connect with the leading research and development team now. Order a free consultation in Telegram or Facebook. Quality assure your future.
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.

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Summary
Why stablecoins like USDQ, KRWQ, CNYQ, JPYQ will never fail as Tether (USDT)? The strong answer from the secret Platinum Q DAO development lab
Article Name
Why stablecoins like USDQ, KRWQ, CNYQ, JPYQ will never fail as Tether (USDT)? The strong answer from the secret Platinum Q DAO development lab
Description
Q DAO is the coin that functions as a utility marker, governance token, and recapitalization resource. The Q DAO holders use the token to vote on the PLATINUM Q DAO ENGINEERING platform development or pay fees on the Collateralized Debt Contracts (CDCs) engaged in the generation of USDQ. When the users pay the fees, the USDQ tokens will burn. Like other cryptocurrencies, Q DAO is also subject to the market volatility.
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Platinum Q DAO
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