Monero Dollar: A Privacy-Centric Stablecoin Blockchain (Update)

In a world where financial privacy is increasingly under threat, Monero Dollar emerges as a beacon of hope - a privacy-centric stablecoin blockchain optimized from the renowned Monero cryptocurrency. This groundbreaking project has been in the works since 2019, and it is poised to revolutionize the way we think about digital currencies. In this article, we'll delve into what Monero Dollar is, why privacy tools are crucial, how it works, and what exciting developments are on the horizon.

A Vision for Privacy
The journey of Monero Dollar began in 2019, with a vision to create a stablecoin blockchain that preserves privacy. Over the years, as technology evolved and challenges were overcome, this vision has taken shape. The result is a blockchain that combines the strengths of Monero's privacy technology with the stability of a stablecoin.

Privacy as a Pillar
Privacy is not a luxury; it's a fundamental right. Monero Dollar stands as a testament to the importance of privacy in the digital age. It's designed to shield users from prying eyes, ensuring their financial transactions remain confidential. This commitment to privacy is at the core of Monero Dollar's philosophy.

The Mechanics of Monero Dollar
Monero Dollar operates on a simple yet ingenious principle: 1 DAI (an ERC20 Token) is collateralized to back 1 XMRD, known as Monero Dollar. When 1 DAI is deposited, 1 XMRD is minted, and when 1 XMRD is burned, 1 DAI is released. This ensures a stable and secure value proposition for users.
Mining rewards on the XMRD blockchain are tied to transaction fees, eliminating direct mining rewards to prevent excessive inflation and maintain the backing of XMRD tokens.

Fee-Based Swaps
To sustain the ecosystem and incentivize validators, a fee is charged during the swap between DAI and XMRD. These fees are distributed partly on the Ethereum chain and partly on the XMRD chain, providing a balanced incentive structure.

What's on the Horizon?
Exciting times are ahead for Monero Dollar. The beta testing phase is set to commence shortly, during which the project will reward users who help identify and address any bugs. After rigorous audits, the blockchain will transition to its Mainnet status, expected to occur in 2023. The project's dedication to security and transparency is unwavering.

Community-Driven Funding
Monero Dollar is a labor of love, self-funded by individuals who share a common vision for privacy and decentralized payments. To ensure sustainable growth, audits, and continued development, a token on the Ethereum blockchain will be introduced, details of which will be unveiled only after the blockchain is fully functional in the beta testing phase. Monero Dollar is committed to delivering results before seeking support.

Join the Movement
The Monero Dollar website, monerodollar.org, is now live, and links to platforms for public beta testing will be added soon. This project invites you to be part of the journey towards a future where financial privacy is a universal right, and stablecoins like Monero Dollar provide the cornerstone for secure and confidential transactions. Stay tuned for updates, and get ready to experience privacy and stability like never before.

Twitter: https://twitter.com/monero_dollar

Bitcointalk: https://bitcointalk.org/index.php?topic=5214640.0

Telegram: https://t.me/monero_dollar

You are absolutely correct, and this represents one of the significant changes in our approach. We have eliminated the pre-mint, and there are no longer mining rewards. Instead, transaction fees now go to the miners, ensuring full backing, while validators earn transfer fees for facilitating interactions within the network. This change reflects our commitment to creating a robust and sustainable ecosystem.

took time but we created xmrd!

Greetings, everyone,

The inception of the Monero Dollar concept dates back to 2019 when we first unveiled our vision. As we embarked on this journey, we encountered several challenges that had previously hindered the development of a truly decentralized solution. However, I am delighted to announce that we have now overcome these hurdles, and our initial nodes are already operational!

What lies ahead on our roadmap?

4-12 weeks of rigorous internal beta testing.
Subsequently, we will introduce the technology to the community for public beta testing.
During the public beta testing phase, we will initiate a bug bounty contest for the network and connectors, with the enticing opportunity to win validator seats. Why validator seats, you may ask? These seats enable validators to earn conversion fees between the two chains. With substantial traffic, validators can generate income.

To secure funding for our future development and growth, we will begin selling validator seats once the product enters the public beta stage. This decision allows everyone to witness the functionality and potential of what we have built.

For inquiries, please contact us at xmrdv@proton.me or join our Telegram channel at https://t.me/monero_dollar.

Thank you for your support and interest in the Monero Dollar project!

We're back, and we're excited to announce the upcoming rollout of our optimized protocol!

During our brief hiatus, we took the time to thoroughly reassess our strategy and made significant conceptual changes to various aspects of our execution.

If you're a fan of Monero and value privacy, and if the idea of having a fully-backed stablecoin built on Monero technology excites you, then you've come to the right place!

Stay tuned for further updates, as we will be posting more details on GitLab very soon.

private centralized sales are never welcome in the community! if we would prefer centralized sales, we could also use fiat instead of crypto.

hi gofy, sorry for the small delay but there are a few smaller issues with the front end and back end connection which need to get solved. the team is working on it with high pressure. to ensure the platform will run smoothly this improvements are important.

release is coming soon   

the your child wallet is not needed

no USDT (not secure enough) just TUSD and DAI. DAI is 150% (or more) backed with different Crypto collaterals and TUSD it's 100% backed with USD which is certified. we will also add the option to use more different currencies which include Monero and BTC to get the stable portfolio.

"more currencies more security"

later this year

Monero Dollar (XMRD)
Consortium
October 06, 2023

Abstract
The Monero Dollar (XMRD) is a pioneering stablecoin initiative that marries the robust privacy-centric attributes of Monero with the stable valuation provided by DAI, a decentralized stablecoin. This document elucidates the operational mechanics, technological backbone, and strategic underpinning of Monero Dollar (XMRD), showcasing a decentralized, privacy-centric stablecoin model in the thriving cryptocurrency ecosystem.

Introduction
Cryptocurrencies have garnered significant attention for their potential to provide financial privacy and security. Monero, a front-runner in privacy-centric cryptocurrencies, has set a high standard with its unique privacy features. However, the volatility inherent in cryptocurrencies like Monero often deters usage for everyday transactions. Enter Monero Dollar (XMRD) - a stablecoin initiative aimed at melding the privacy assurances of Monero with the stability of DAI.

Monero Technology Overview
Monero operates on the CryptoNote protocol, employing advanced cryptographic techniques to offer enhanced privacy. Core privacy features include:
Ring Signatures: Allowing transaction originators to conceal their identity among a group of signers.
Ring Confidential Transactions (RingCT): Extending Ring Signatures to conceal transaction amounts.
Stealth Addresses: Providing a mechanism for receivers to use single-use addresses to maintain privacy.

Monero Dollar Architecture
The Monero Dollar leverages Monero's established blockchain architecture with certain optimizations to support the stablecoin mechanism. It inherits Monero's privacy-centric technologies while integrating a mechanism to maintain a 1:1 peg with DAI.

Monero Dollar Mechanism
Creating a Monero Dollar entails:
Deposit: Users deposit 1 DAI to the designated Validators, providing their Monero wallet address.
Validation: Validators confirm the transaction.
Minting: Upon validation, 1 Monero Dollar is minted and sent to the user's Monero wallet address.
Reverting Monero Dollar back to DAI is streamlined using a ID feature, enabling seamless transactions between the two ecosystems.

Network Security and Incentive Structure
The Monero Dollar retains Monero's robust security infrastructure. Miners are incentivized through transaction fees instead of block rewards, aligning their interests with network utility. Validators play a crucial role in bridging the transactions between Ethereum and Monero Dollar, rewarded through a standard bridge fee model.

Rationale for DAI Peg
DAI was chosen for its decentralized nature, aligning with the Monero Dollar's commitment to decentralization. The 1:1 peg ensures a stable valuation for Monero Dollar, fostering a conducive environment for its adoption and use.

Market Context
The stablecoin sector, with a market cap of $122.79 Billion and daily trading volume of $33.99 Billion (as of 4th October 2023), presents a ripe market for a privacy-centric stablecoin like Monero Dollar to thrive.

Conclusion
Monero Dollar (XMRD) represents a significant stride toward a privacy-centric, stable digital asset. By amalgamating Monero's privacy features with DAI's stability, Monero Dollar unfolds a new chapter in the stablecoin narrative, addressing the market's burgeoning demand for privacy-oriented, stable value cryptocurrencies.

web: https://monerodollar.org
gitlab: https://gitlab.com/XMRD
tg: https://t.me/monero_dollar
x: https://twitter.com/monero_dollar

decentralized technology are a load of crap?

the people love monero because it's private and decentralized and the people will love XMRD because XMR get more usage and XMRD works as stablecoin.

hello gash. tether is centralized and xmrd is decentalized. we know about the issues from tether and we solved this issues. we used the monero technology to build the privacy stablecoin. the technology for the swap is build form us. XMRD is not related with monero expected the blockchain technology.

XMR will be added as collateral in the near future as well.

the project is setup on the monero blockchain technology.

hello. no discord but telegram. https://t.me/monerodollar

Monero Dollar (XMRD)
Consortium
October 06, 2023

Abstract
The Monero Dollar (XMRD) is a pioneering stablecoin initiative that marries the robust privacy-centric attributes of Monero with the stable valuation provided by DAI, a decentralized stablecoin. This document elucidates the operational mechanics, technological backbone, and strategic underpinning of Monero Dollar (XMRD), showcasing a decentralized, privacy-centric stablecoin model in the thriving cryptocurrency ecosystem.

Introduction
Cryptocurrencies have garnered significant attention for their potential to provide financial privacy and security. Monero, a front-runner in privacy-centric cryptocurrencies, has set a high standard with its unique privacy features. However, the volatility inherent in cryptocurrencies like Monero often deters usage for everyday transactions. Enter Monero Dollar (XMRD) - a stablecoin initiative aimed at melding the privacy assurances of Monero with the stability of DAI.

Monero Technology Overview
Monero operates on the CryptoNote protocol, employing advanced cryptographic techniques to offer enhanced privacy. Core privacy features include:
Ring Signatures: Allowing transaction originators to conceal their identity among a group of signers.
Ring Confidential Transactions (RingCT): Extending Ring Signatures to conceal transaction amounts.
Stealth Addresses: Providing a mechanism for receivers to use single-use addresses to maintain privacy.

Monero Dollar Architecture
The Monero Dollar leverages Monero's established blockchain architecture with certain optimizations to support the stablecoin mechanism. It inherits Monero's privacy-centric technologies while integrating a mechanism to maintain a 1:1 peg with DAI.

Monero Dollar Mechanism
Creating a Monero Dollar entails:
Deposit: Users deposit 1 DAI to the designated Validators, providing their Monero wallet address.
Validation: Validators confirm the transaction.
Minting: Upon validation, 1 Monero Dollar is minted and sent to the user's Monero wallet address.
Reverting Monero Dollar back to DAI is streamlined using a ID feature, enabling seamless transactions between the two ecosystems.

Network Security and Incentive Structure
The Monero Dollar retains Monero's robust security infrastructure. Miners are incentivized through transaction fees instead of block rewards, aligning their interests with network utility. Validators play a crucial role in bridging the transactions between Ethereum and Monero Dollar, rewarded through a standard bridge fee model.

Rationale for DAI Peg
DAI was chosen for its decentralized nature, aligning with the Monero Dollar's commitment to decentralization. The 1:1 peg ensures a stable valuation for Monero Dollar, fostering a conducive environment for its adoption and use.

Market Context
The stablecoin sector, with a market cap of $122.79 Billion and daily trading volume of $33.99 Billion (as of 4th October 2023), presents a ripe market for a privacy-centric stablecoin like Monero Dollar to thrive.

Conclusion
Monero Dollar (XMRD) represents a significant stride toward a privacy-centric, stable digital asset. By amalgamating Monero's privacy features with DAI's stability, Monero Dollar unfolds a new chapter in the stablecoin narrative, addressing the market's burgeoning demand for privacy-oriented, stable value cryptocurrencies.

web: https://monerodollar.org
gitlab: https://gitlab.com/XMRD
tg: https://t.me/monero_dollar
x: https://twitter.com/monero_dollar

The functions are already finished. Just working on the Frontend. We hope next week.

Monero Dollar XMRD Wallets


Windows:
https://gitlab.com/XMRD/windows-xmrd-wallet

Mac:
https://gitlab.com/XMRD/macos-xmrd-wallet

Linux:
https://gitlab.com/XMRD/linux-xmrd-wallet

GoFY its a pleasure you started mining already. The important milestone will be after the swap platform start. Trough the swap you have the guarantee if you bring the XMRD back you get your TUSD/DAI collateral back.

thank you kryk.

the wallets are the same as the monero wallets.