Blockchain technology has gotten to the level in which the whole world cannot do without it. We have discovered that this technology is making the news headline everyday which symbolizes global and rapid adoption of this technology. But despite the greatness and potential of this technology, there are still some things that needed to be improved upon its use. We have several and different blockchain network such as bitcoin blockchain, ethereum blockchain, eos blockchain, tron blockchain and some other more. The level of difficulties associated with each of this blockchain network varies based on the type of blockchain.
We have some blockchain that are more cumbersome and difficult to use than some others, we also have some that easy to use but they are lacking some other qualities. Let’s take for example the speed of transaction which is solely dependent on the nature of blockchain transaction. Some transactions do take several hours before it could be confirmed on the blockchain network, some blockchain also charges high transaction and mining fees. This is the reason why a new team has gathered around to rectify this problem by launching a new blockchain project known as
Platinum Q DAO
Platinum Q DAO Engineering is an international full-cycle company that provides IEO/STO listing, advisory, marketing, legal, and tech services. The company helped to raise more than $200 million for a great number of projects. Platinum Q DAO Engineering employs over 100 specialists who have extensive experience in marketing and PR, management, consulting, programming, cyber-security, education, legal advisory, and many more. The company’s mission is to make people’s lives better and facilitate economic growth by developing cutting-edge products that provide trustworthy, safe, and seamless access to any virtual assets.
Platinum Q DAO Engineering is thrilled to announce the Initial Exchange Offering (IEO) of Q DAO, the governance token of the Q DAO ecosystem, on BTCNEXT exchange! Platinum Q DAO Engineering is a global hi-tech leader rendering IEO and STO listings, advisory, legal, and marketing services to blockchain companies.
Furthermore, USDQ is a known cryptocurrency stable coin just as we know Tether 'USDT'. This primarily implies that its worth is stable or “pegged” to the US dollar. The Q DAO platform is known as a smart contract platform designed on the Ethereum blockchain. The good contract mechanism used is noted as Collateralized Debt Contract.
The value of the USDQ stable coin is joined to the Q DAO smart contract platform making use of the Collateralized Debt Contract [CDC]. This implies that anyone will prefer to use their own assets, during this case, bitcoin with other crypto assets to be added in future, as collateral that works as a guarantee.
This is created attainable by the smart contract platform. The collateral assets will be locked when being deposited into the Q DAO smart contract platform and permits the owner to come up with USDQ stable tokens reciprocally whereas at a similar time making debt for the owner.
This debt is critical as it will help to keep up the collateral within the smart contract till it's totally repaid by the number of USDQ tokens it originally generated. Once the compensation happens then the owners of the collateral will withdraw and receive their collateral back.
Stablecoins offer absolute freedom to each user because they're not controlled by governments or central establishments. It being scalable, very much effective and transparent makes it so unique hence the Platinum Q DAO's team do believe that USDQ , KRWQ and the other stable coins which would be linked to the Q DAO ecosystem will definitely revolutionize the crypto space being the golden one.
Q DAO Ecosystem's coins
Q DAO: This was factored to control the system and to pay fees within the system. Q DAO is within the smart contract system which works with USDQ, KRWQ, JPYQ, CNYQ and several others. They aim to become a hedge system which would help traders keep stability in regard to several other coins presently on the crypto market.
USDQ,JPYQ, KRWQ and others are decentralized stablecoins which is backed by bitcoin. This function by usage of algorithms and they are pegged to USD or appropriate fiat currency, that is USDQ 1 = USD 1, KRWQ 1 = KRW 1 , etc.
Trade it as a regular stable coin on the secondary market.
Trading in a low-volatility cryptocurrency such as USDQ may help traders to work more efficiently and stay safe no matter what happens on the secondary market.
Collateralize your crypto and get a simple stable trading asset. After the trading, just give it back and return your crypto. Bitcoin, Ethereum, and other popular cryptocurrencies can't guarantee its minimum value. So, protect it in our ecosystem until you will be sure in their stability. Holders of USDQ will have a trusted coin which will safeguard from market volatility until ready to begin trading again.
Join the Q Dao Community of Miners & Decision Makers!
Join the mining community and begin mining Q DAO tokens immediately. Now is your chance to become a miner in a growing community. Make your voice heard by becoming part of our decision makers by mining a revolutionary new cryptocurrency of the future.
Automatic Liquidation for High-Risk CDPs
The Q DAO Platform enables an automatic liquidation of CDPs, which serves to assure that there's always a sufficient amount of collateral to cover the outstanding debt (based on the Target Price). The point, at which a CDP should be liquidated, is determined automatically by the ecosystem through the comparison of the Liquidation Ratio and the present ratio of collateral to debt for an individual CDP.
The Liquidation Ratio is determined individually for each specific CDP type. It's managed by Q DAO Governance and derived based on the risk profile, applicable to particular Collateral Asset, used within the CDP type.
Whenever a specific CDP has reached the applicable Liquidation Ratio, the liquidation is triggered. The Collateral Assets are purchased by the Platform and then immediately sold off at the open market. During the Single-Collateral USDQ, the Liquidity Providing Contract is used as a temporary solution.
USDQ and Q DAO
The ecosystem functions in order to mint two coins – the internal coin Q DAO, used to manage the ecosystem, and the USD-pegged USDQ. The system is based on collateralization of Bitcoin and other cryptocurrencies, enabling any user to input cryptocurrency and mint USDQ coins, with its value continuously oscillates around $1 with insignificant deviations from time to time.
Just as other crypto-based stablecoins have gained more and more traction, USDQ is expected to grow and become an important part of the crypto markets. With more and more users, the ecosystem will become a “reserve vault”, used to safely store cryptocurrency and produce the stablecoin.
The technical development is being driven by the Platinum Engineering Team, which brings together top-notch development, marketing and strategic talent in the crypto markets. The project has been slowly gathering a community of stakeholders around it.
USDQ doesn’t need any links with banks or auditors. The process to generate USDQ is based on the smart contract which creates the so-called Collateralized Debt Contract (CDC) and locks the collateral, i.e. crypto assets. When a user wants to generate USDQ, they need to input crypto assets into a CDC, and, in return, they will get USDQ.
The ecosystem uses the over-collateralization method which is required due to high volatility seen in cryptocurrency markets. As compared to stablecoins like USDT, where the ratio is 1 USD = 1 USDT, USDQ requires a higher ratio of crypto assets to be placed as collateral, with the exact ratio amount varying. In addition to interacting with a next-generation smart contract, traders can also purchase USDQ on secondary markets.
30% tokens via IEO (all tokens will be unlocked)
70% tokens via OTC desk (all tokens will be locked for certain periods)
Q DAO is an international governance and utility token called upon to maintain the stability of a whole family of stablecoins: USDQ, KRWQ, JPYQ, SGDQ, HKDQ, CNYQ, and RUBQ. The cryptocurrency market is prone to high volatility. The Q DAO ecosystem stablecoins are able to solve this problem. They will use Bitcoin and later other top 10 cryptocurrencies as collaterals to back their prices and maintain their pegs in relation to fiat currencies. For example, the USDQ price will always try its best to stay at USD 1 in spite of any market fluctuations. Other stablecoins will follow the same scenario.
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Author : Maniecool
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