Bitcoin Forum

I want to create usd or gbp eur stable coins.
Is tron best option ?
Also how the exchangers will add my stable coin their ecacnger like usdt or usdc ?

You could create a smart contract on Ethereum or Solana.
Maybe you even could create a Subnet (like Lightning) for Bitcoin and add that with an Algorithm (for the Stablecoin)

Btw, exchangers like Binance overview your Project to validate that it isn't a total scam, then they implement your code (address generation, etc)
and finally they list your coin ...

But please be careful, these days there are alot of people losing money on such projects!!!

Tron is one of the most centralized exchange to be used as your stablecoin blockchain, Near Protocol is one the most underrated blockchain right now that is not being value properly while it has the best feature in term of decentralization, speed and cheap transaction fee. Tron is just a hype blockchain same with Terra Blockchain that recently collapsed. You should choose blockchain that is not centralized if you want your stablecoin to become successful.

I want reply only to the second part of your post.
how do you prove that you have the equivalent in "FIAT" of what you declare is in the smart contract?
you need notaries, accounting firms, lawyers, contracts ... without the right professionalism and experience it is literally a waste of time and no exchange would trust in quoting something like that...

So i should i have investors do that right ?
They invest and if coin siccessful they get fiat airdrop...not bad right?

The idea itself can sound amazing but I don't think it's that simple.
Have you noticed before that to distribute "fiat" (based on the nationality of the participant) it is necessary to fill in an AML (Anti money laundering) questionnaire? Plus any investor before putting money on it want receive all kind of explanations and clarification about the real nature of this kind of investment....

Take a look at the main stable coins that mimic FIAT currencies (Tethere USDc XDAI etc)
Behind there are financial "giants" and real companies that deal with all legal and economic aspects. it is not enough to simply create a decentralized database where you say that a value is also present in the real world, but you need a whole legal mechanism behind this value ...

I think your problem is much bigger than just the blockchain, which is how will you maintain the value of the stablecoin to remain stable?
Are you going to deposit a dollar in the bank for every stablecoin printed?
Or are you going to create an algorithm that ensures decentralization so that it has a different blockchain, or use an existing one?

Ok, how your stablecoin works will determine which blockchain is better, but it is not a service that can be performed by a single individual or even a trained developer.

Then make just coin and call it dollar each coin will be same value always as dollar if u hold you always know its a dollar i create 500000000000 coins so by default each coin value is same as usd never change always one usd and coin price never change its always just same.

There's already USDT in the Tron network and why would need to make those fiat as stable coins? You're not the government.

It's not that easy as you thought it to be. Trying to make free money out of thin air just like what the feds are doing? Much better to not just think of it and do something else.

Creating a stable coin is almost impossible for any single person, a whole team is needed and not only that you also need huge companies that are behind you so you have any chance of creating a stable coin these days, so while I can understand the interest the creator of this thread may have on something like this at the same time it is important to be realistic about what he can actually achieve, so it is better that at least for the time being he forgets about that until he has all the necessary conditions in order to create the stable coin that he wants.

Its not like simple token addition. You are talking about a stablecoin. I think on dex thats fine cause they really not into identity to someone creatinf any coin.

If youll make a stabelcoin you should have liquidity and reserved backed for that stablecoin. Its not simple as you think and even harder when trying to list it on centralized exchange like binance. There will be tons of verification and audit on hows your project doing and its technical aspects and most especially its security.

For you to create a stablecoin you will need some type of proof that its possible to redeam this coin for actual fiat. This is going to be very difficult to do right now. Look at how many people fear USDT because they keep failing to produce audits. Thats why everybody is using USDC instead.

There are so many higher and stable marketcap coins out there, why would they use your stablecoin? I don't think this is a smart idea at all. I don't think we really need another stable coin, there are dozens of them out there already.

You want to create a stablecoin? Choose a chain that offers generous grants, like CNDL or NEAR. The CNDL one is the easiest to get but the NEAR one pays out the highest. It also depends on which language you want to code it in. NEAR is Rust and CNDL is Solidity.

I don't think you are serious with that because I always see you hear in the forum, creating threads. Im not really sure if it's also you who creates none sense threads here sometimes, unless maybe if you are serious this time and decided to change your life for the better.

Creating a stablecoin might be a good business right now to venture due to how volatile the cryptos are acting lately but the only problem is that we already have lots of stable coins in this market and when someone needs a stable coins, they will always pick those who are on top and are famous already. Why not create a normal crypto instead? You will have a better chance on this one.

Finally you are ready to print your own money, tired of waiting for the government to implement one of your many ideas on money printing mechanism.
This here is one of the disadvantage of crypto, anyone can just wake up and decide to be a genius even with zero clue. Why not try eth network, i hear the gas fee is expensive and probably out of the reach of the likes of you.  ;)
Good Luck To Investors.  :-X

Tron looks best eth gas feee too much

This must be the scalable blockchain like solana, matic or avalanche but tron? oh? for real?

It's not. Its CEO may insult you by creating a competitor for USDD.  USDT may be in the different case caused by tether officially partnered with tron but what about your token? it doesn't seem to be reliable enough.
You paid them and they will add it but stop it. Give them the result for your audit first about how much reserved funds available, the code and many more.

You can try to use multiple blockchains here, there are some chains now especially EVM supported where you can easily use it to different blockchains especially starting with some low-cost gas fee chains like Avalanche or some Layer 2 networks like MATIC.
But I can suggest Solana, Solana is different from what most chains right now just like L2 networks or EVM supported networks.

Its always eth network if you want to make a successful project even though its gas fee high no matter gas fee user always focus on real chain. But bnb chain and polygon chain also good if project quality is good otherwise it will not work for project growth if you choose other chain!

There are many things you can build within cryptocurrency spaces but another stable coin ain't one.

Beforehand, you must compete with other established stablecoin issuers like Tether and Circle, USD and EUR are the most prominent one that exists on many networks. So it is a bad idea if you only fixated where your token exists on the network. After all, if you are still figuring out or didn't have any relation on exchange it will be hard to get listed there.

To be honest, it would not be easy to create stablecoins at this time, especially since the LUNA case, nowadays users and exchanges have become more selective in choosing stablecoins. But if you want to actually develop a stablecoin my suggestion is to develop it into multiple chains, so that your stablecoin is not confined to the TRON network. Things about your smart-contract, auditor, and stablecoin mechanism are also important, because this is one of the considerations for users and exchanges, because you have to be able to prove that your stablecoin is free from manipulation and is actually backed by real assets.

I would say that right now, Binance Smart Chain is the most ideal option, I wouldn't say the best because the best platform would be still be Ethereum, but the crazy gas fee, creating your project in Ethereum would cost a lot of many, moreover the ETH price right now is a bit high. BSC has low fee compared to ETH, the other alternative would be Avalanche, I would prefer it compared to Tron,

All that being said, seems like you are not an expert in crypto and building stablecoin is not simple and cheap, you will need huge amount of fiat capital to backup your coin, not to mention developing the code .etc, so seems like you still have a long way to go.

You can create a smart contract by Ethereum, Binance Smart chain or Tron.  There chain are much popular and it can create a high quality smart contract with high security.  and any exchanger can added your peg on there exchange by your creating smart contract.  it is easy to create a altcoins or peg but it is difficult to keep your coin price stable

I would say tron would be "best option" in this case because if you are dealing with stablecoins, you want as little transaction fee as possible. I do not disagree with your ERC20 approach, it's still used a ton, many people do, but to things such as USDT because they are already giants, I highly doubt things that are starting brand new would get in that easily.

Secondly and most importantly, stablecoins would work in multiple chains and without a problem. I can send USDT to someone from erc20, bsc, trx, and many other chains, why? Because everyone does agree that it's something that works and trust it. This is why it's definitely something every new project should aspire to be.

Not many people take Tron serous though because of its founder, the amount of scams on the chain, and some big blunders like not opening their chain to all tokens to bridge. Tomochain and Secret had the same problem. They introduced bridges but only allowed a handful of tokens to bridge. Meanwhile, projects like Polygon and CNDL with open bridges have thrived in comparison.