Slava Zhelt shares about USDQ and KRWQ, unique decentralized stablecoins that make it easy to collateralize Bitcoin. Slava acts as a Senior Security Specialist in Platinum Q DAO Engineering. Within his team, Slava is known for impeccable track record regarding security and reliability in projects, which he’s contributed to. Read this article and start learning about a decentralization wave, currently disrupting stablecoins.
For the past 3 years, Platinum Company became the biggest Listing Broker in the world: we have listed 300+ projects on Top Exchanges and supported Market Making for 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 short interview and start learning about a decentralization wave, currently disrupting stablecoins.
Blockchain has a lot of potentials when it comes to finances. At this stage of technology development, it can offer us a lot of solutions that can be used on a large scale, such as stablecoins. Stablecoins are designed to be a bridge between traditional finances and cryptocurrencies – they work as blockchain tokens, but their value is usually pegged to real-world currencies, and it comes extremely handy on a volatile crypto market.
Here at Platinum Q DAO Engineering, we have developed Q DAO family stablecoins, including USDQ and KRWQ, pegged to US Dollar and Korean Won. they are fully functional and can be used for any task, from trading to saving, as an alternative to a bank account. But how should they be used? How are they different from other stablecoins? We asked our senior security specialist Slava Zhelt to answer this one and some other questions.
– Why do we have such volatility on crypto markets and how stablecoins help to evade it?
Slava: Every day all traded markets swing in price. Crypto markets aren’t very unique in this meaning. This crazy volatility is caused by the lack of liquidity on crypto markets – there is simply not enough buyers and sellers to set orders, so the price goes both ways wiping out thin order books without any resistance. When you don’t understand what’s happening, the most reasonable decision is to exit all positions and wait. That’s what stablecoins USDQ and KRWQ serve for – being the reliable asset where you can conserve the value of your portfolio. Back in the days when the concept of stablecoins didn’t exist, you couldn’t escape the volatility, you could only hop between Bitcoin and various altcoins, which usually move in the same direction. Now you can simply sell your crypto and hold stablecoins, such as USDQ and KRWQ until you decide it’s time for the purchase again.
– And what’s the difference between USDQ, Tether and, let’s say, TrueUSD?
Somebody may like and use TrueUSD and Tether, even despite the latest scandal news. But personally I don’t like their model – they are backed by funds in banks, these funds can be frozen at any moment if someone in the government decides that issuing stablecoins is illegal. Or pulled them out of the bank accounts and hidden them, and those stablecoins will be worth nothing after all. At Platinum Q DAO Engineering, we support the decentralized model – we don’t have any control over the collateral, and all tokens are created by sending Bitcoin into Q DAO ecosystem. The neural network maintains the stable price and will sell collateral, if some black swan event occurs, to return initial funds to Q DAO stablecoins holders. The use of neural networks makes USDQ one of the smartest coins at the market now. It’s truly “an algorithmic stablecoin” and it’s much safer to use than the coin that has been issued manually. Do you know how much Tether is backed? I don’t. Currently, our stablecoins are collateralized by 166% by BTC, that’s more than enough.
– Why did you join the team and decide to work on Q DAO?
I wanted to challenge my skills. As a security expert, you can put your skills to good use, reviewing the code of smart contracts, making sure that they are secure enough. Our Platinum Q DAO Engineering team has also developed BTCNEXT, Japanese and Korean friendly and secure exchange. And of course, we added USDQ and KRWQ there too. BTCNEXT customers can buy and use them in trading. At this job, you always have some new tasks, that no one has ever faced, and that’s what I like the most.
BTCNEXT is a next-generation spot and margin trading platform. The exchange is designed for the beginner and delivered by experts. In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures. In the near future, users will be able to trade over a hundred types of tokens including Bitcoin, Ethereum, Litecoin, and USDQ stablecoin. Moreover, on the top of that, traders can connect to an API service, automating lots of their routine operations. For more information about BTCNEXT, visit their website and follow them on Twitter, Instagram, Telegram, Facebook, Medium, and LinkedIn.
USDQ is a decentralized stablecoin, which uses 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 the 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 oracles for high-endurance stablecoins.
Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ under Q DAO brand. Fully anonymous, USDQ breaks limits out of this legacy world.
Visit https://usdq.platinum.fund for latest updates about USDQ (and KRWQ – soon)
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