WaykiChain WUSD: All That Beginners Need to Know About Stablecoin
Quiz for Token :
As Facebook released their “stablecoin”whitepaper, the term of stablecoin burst to viral since then. What is stablecoin on earth? How to category the stablecoin?
What is Stablecoin?
Alright, alright, Questions’ answered one by one.
Yes, Stablecoin is a kind of cryptocurrency.
Its price is anchored to fiat money and its value is relatively stable.
There are mainly three types of stablecoins in the market currently.
First one, stablecoin pledged by legal money. Stablecoin pledged by legal money such as USDT has high circulation but poor security. By this I mean: opaque audit, centralized distribution.There has been a huge crisis before, millions of dollars of USDT burglaries. USDT has always been criticized for its confidence crisis and price fluctuations.
Second one, stablecoin pledged by crypto assets such as MakerDAI.It has good security but very poor circulation efficiency. It is mainly because MakerDAI is based on the high-jam ETH. That Dai could stucks for couple of hours is actually very common. If the user was in a hurry, he or she has to pay couple of dollars fee as miner fee. Such user experience! -_-
Third one, algorithmic stablecoin. Any currency issuance is a trade-off between system rules and self-discipline. Relying solely on algorithms is like facing a robot with a basic chat function that can have daily conversations, but in the face of more complex needs and emergencies, it is far from a complete system.
Well-rounded Stablecoin? Real or Not?
So, are there any stablecoin can achieve both transparency and circulation efficiency? Well, well, well. WaykiChain gives the answer. WaykiChain stablecoin WUSD is the world’s first stablecoin based on bottom layer. Ready for our exploration of WUSD now?
WaykiChain, the only technical support of China’s Commercial Ministry, is an innovative team focused on blockchain technology. WaykiChain team developed the third generation commercial public chain, provides solutions to various industries. With TPS 3200+ and more than 30 Dapps on chain utilizing its mainnet coin WICC, and unbelievable team building, WaykiChain stablecoin officially released this month.
WaykiChain WUSD, Stablecoin Mechanism
In WaykiChain stablecoin system, the collateral asset is currently their mainnet token WICC. Initial collateral requires over-collateral asset, 200% WICC.
WaykiChain utilizes the world’s first risk reserve mechanism: when the collateral rate decreases, the system will be liquidated in time; when insolvent happens, the risk funding pool will compensate; when it comes the black Swanee, there is the circuit breaker. So, that is to say, the 3 risk reserve mechanisms can rest assured the stablecoin system and value stable.
More obvious proofs: 1) the issue method of WaykiChain stablecoin is better. Most stablecoins are based on the single Encryption book, which is too centralized. For example, the collateral asset of USDT is not even on the blockchain.WUSD is based on the bottom layer of public chain,which is transparent and decentralized enough. WaykiChain public chain TPS reaches 3200+, with this strong and fast public chain, there is no doubt its stablecoin could win out with good efficiency. Besides, WUSD has programming ability. That is to say, WUSD can accesses to all the projects based on WaykiChain.
2) in regarding to the circulation efficiency, although both of WUSD and DAI are crypto collateral stablecoin, DAI is based on the high jam ETH. Extra fee will be charged to transfer. Oops, this is not that user-friendly tho! However, because of WUSD is developed on the bottom layer of WaykiChain public chain, the public chain produces block every 3 seconds. Wow, what a speed! When you do your transfer,the transaction fee is only 0.01WUSD! WUSD is the world’s only stablecoin which can achieve this. Using WUSD is not only just fast but with low costs.
3) for the whole WaykiChain ecosystem, the two huge innovations about WUSD are:
A. the world’s first and only stablecoin based on bottom layer and the three-token economic model.
B. WaykiChain stablecoin has its decentralized prediction machine feeding system.
C. Comparing with MakerDao based on Smart Contract,WUSD is more reliable and more difficult to be attacked. Three-token economic model of stablecoin is consist of WICC,WUSD, and WGRT. Every year, WGRT will be given to WaykiChain super nodes for voting. It separates the value fluctuating assets from the value stable assets, distinguishes the application scenarios of different tokens, achieves mutual promotion of common prosperity of the three token.
WaykiChain stablecoin WUSD has made innovative breakthroughs in the aspects of transparency, security, and circulation efficiency. Currently, WaykiChain has reaches the strategic cooperation with HuaTong Security. Users can use WUSD to buy Hong Kong stocks and US stocks. In the future in sight, the collateral asset of WUSD will include BTC, then users can get hundreds of billions asset. And WyakiChain stablecoin will be used for Cross-border finance/payment, financial derivatives trading, more than 30 Dapps on WaykiChain. Here, it totally beats DAI, right? Also, WaykiChain has recently reached the agreement with AvioneJet, a global Jet Rent platform. Now, you can actually use WUSD for renting a jet. Tight your seat belt for your wealthy trip, friend!
We can say WUSD is the key innovation in the stablecoin area. And yes, it is very promising.
To know more about WaykiChain stablecoin WUSD, Please follow our official Twitter Account: @wayki_chain