First Stable Coins Totally Backed By Bitcoin USDQ and KRWQ By Platinum Q DAO Engineering Now Listed on DEEX Exchange
Platinum Q DAO Engineering has announced a new listing for the stable coins USDQ and KRWQ, the decentralized stable assets that are fully collateralized by Bitcoin. The USDQ token is fully backed by Bitcoin deposits, smart contract and series of token security mechanisms make its price to remain at a 1:1 ratio with the U.S. Dollar. The same applies for the Korean-won version KRWQ. The stable assets are listed on DEEX, a decentralized cryptocurrency exchange based on the BitShares 2.0 platform, a cryptocurrency exchange marketplace.
The Unhackable Decentralized Exchange
DEEX is a decentralized exchange developed on the BitShares 2.0 platform. The platform was designed as an alternative to using centralized exchanges and therefore avoiding issues such as security threats, unfair competition, dangers of sanctions, political factors, and more. The platform makes use of the blockchain implementation called Graphene. This is an Open Source implementation originally developed as the foundation of Bitshares. The founding team chose this technology as an extremely fast and reliable tech stack without any hacking records since it was created.
The New Generation of Fully Backed Stable Coins
USDQ and KRWQ have similar functions. They are both part of the Q DAO ecosystem of components. These stable assets were created as a solution to moving value anywhere in the world using cryptocurrency but eliminating its inherent and ever-present volatility. Each USDQ and KRWQ issued are fully backed by deposits made by users in Bitcoin which trigger a smart contract that automatically issues the right amount of tokens. These Bitcoin deposits are always held in segregated wallets under a Bitcoin asset control system and become locked positions by the Q DAO smart contract which will only release the collateral once the USDQ or KRWQ tokens are paid back into the system.