Why the core features of USDQ and KRWQ will beat other stablecoins? Depth look from Platinum Q DAO Engineering, developers of real stablecoins and BTCNEXT exchange. Part 3 — introduction to Q DAO governance token

This article was provided by Ivan Borisov, Blockchain Engineer at Platinum Q DAO Engineering. Working together with highly experienced designers, front-end/back-end developers, auditors, and strategists, Ivan is responsible for architecting reliable and scalable blockchain solutions. He always strives to gain a deep understanding of underlying business logic, so that the delivered DLT-driven systems help strengthen the overall customer’s strategy, effectively integrating with other facets.

For the past 3 years, Platinum Company became the biggest Listing Broker in the world: we have listed more than 300 projects on Top Exchanges and supported Market Making for more than 70 projects.

Platinum STO/ICO fundraising dashboard and tokenization platform are now installed to 30+ projects, and it has helped them to raise more $350,000,000

In Platinum Q DAO Engineering we are creating a lot of cool stuff:

BTCNEXT — most secure, compliance and regulated exchange, built by traders for traders;

Decentralized stablecoins KRWQ, USDQ, JPYQ, CNYW (we are second Stablecoins DAO after Maker DAO)

Read this article and start learning about a decentralization wave, currently disrupting stablecoins.

What is USDQ?

Platinum Q DAO Engineering is the creator of the USDQ stablecoin. USDQ allows its users to collateralize their BTC thereby, guaranteeing its minimum value; a feature unavailable with Bitcoin and Ethereum. USDQ users can rest safely against the volatile tendencies of the market, as it is pegged with the US dollar; therefore, it is valued at 1 USD, just Like Tether.

KRWQ is another Q DAO family stablecoin by Platinum Q DAO Engineering, KRWQ is pegged to Korean Won. Soon there will be even more fully backed stable coins: JPYQ, SGDQ, HKDQ, and CNYQ, all under Q DAO brand.

The Tokens

A full understanding of the USDQ stablecoin is effective only when we study the other tokens on the ecosystem. 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.

2. USDQ: USDQ is a decentralized stablecoin backed by bitcoin. It functions by using algorithms and is pegged to USD, that is USDQ 1 = USD 1.

What is Q DAO?

Q DAO isn’t a stablecoin. Its volatile nature is due to its assigned position in the Q DAO platform and its apparent supply tactics. There is a recorded supply of 999,999 Q DAO tokens in the platform. Q DAO has a dual nature where it can be used both as a utility token and a governance token.

Q DAO as a Utility Token

Q DAO is functional for the payment of stability fees generated on CDPs used for the generation of USDQ. The payment of the fees can be made only through Q DAO. After the completion of the payment, Q DAO is burnt off completely erasing it from the supply system.

What Does that Mean?

It states the fact that if the rate of adoption and demand for USDQ and CDPs increase, the need for Q DAO will also increase (as they are used for the payment of fees). Since Q DAO is burnt off completely the moment it is used, its supply also decreases.

Q DAO as a Governance Token

Q DAO holders can make use of the platform to vote via Q DAO tokens. The central issue they cast their votes on is “Risk Management.” The voting is conducted on specific risk parameters assigned for each collateral asset and type of CDP.

Voting for governance is conducted through a continuous system of approval voting. To explain it, a Q DAO holder can vote for a number of proposals with the Q DAO they hold. Q DAO holders can also send in a new proposal or cast and withdraw their vote whenever they want.

Just like an electorate system, the proposal with the most number of votes from Q DAO holders becomes the topmost proposal and can be used for the implementation of required changes in the Q DAO platform.

In a situation where Q DAO holders are all proficient enough, the CDCs would remain over-collateralized.

However, in cases of under-collateralization, the Q DAO tokens bring about “automatic recapitalization” through induced Q DAO dilution. What it means is that the QDAO system brings about the creation of new Q DAO tokens and sells them. This fulfills two purposes:

· First, it brings about liquidity.

· Second, it brings about justice by punishing Q DAO holders and its voters for lousy governance and system maltreatment.

Let’s now focus on Risk Management.

Risk Management of the Q DAO Platform

Q DAO holders can cast their vote on the following risk management factors:

1. Creation of a new CDP with its own set of risk parameters.

2. Modification of risk parameters of pre-existing CDP.

3. Modification of the sensitivity of the Target Rate Feedback Mechanism (TRFM), according to need.

4. Target Rate can also be modified according to the need.

5. Selection of trusted oracle nodes.

6. Modification of price feed sensitivity.

7. Selection of own global settlers for global resolution.

Conclusion

This is the third part of article series from Q DAO Engineering. Please find the next parts via the web or in the blog. Platinum Q DAO Engineering comprises of an excellent team fluent with the market runabouts and adept at upholding the spirit of decentralization. Decentralized tokens like USDQ and KRWQ from Q DAO family of stablecoins could bring about the globalization of cryptocurrency in the near future.

BTCNEXT Exchange is a next generation spot and margin trading platform by the PLATINUM Q DAO ENGINEERING team. It is the first Strategic business partner of USDQ stablecoin.

About PLATINUM Q DAO ENGINEERING

USDQ is brought by the PLATINUM Q DAO ENGINEERING team, as a measure to develop a high-endurance stable coin that uses innovative solutions in collateralization, price stabilization mechanisms, and oracles.

Visit https://usdq.platinum.fund for latest updates about USDQ (and KRWQ — soon)

Visit now Official Telegram chat in Korean or in English to learn about the latest development hacks.

Dive in Official Kakao Talk to ask questions in Korean directly to Platinum Q Dao management team.

# Q DAO diary { dev.day: 374, round: 1, 21 days until ieo#2, Q DAO price: $1.99 }

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Summary
Why the core features of USDQ and KRWQ will beat other stablecoins? Depth look from Platinum Q DAO Engineering, developers of real stablecoins and BTCNEXT exchange. Part 3 — introduction to Q DAO governance token
Article Name
Why the core features of USDQ and KRWQ will beat other stablecoins? Depth look from Platinum Q DAO Engineering, developers of real stablecoins and BTCNEXT exchange. Part 3 — introduction to Q DAO governance token
Description
This article was provided by Ivan Borisov, Blockchain Engineer at Platinum Q DAO Engineering. Working together with highly experienced designers, front-end/back-end developers, auditors, and strategists, Ivan is responsible for architecting reliable and scalable blockchain solutions. He always strives to gain a deep understanding of underlying business logic, so that the delivered DLT-driven systems help strengthen the overall customer’s strategy, effectively integrating with other facets.
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Platinum Q DAO
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