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I'm keeping an eye on this...
Let's wait for the wallet to be released exit scam
FTFY Everything is decentralized and the team only earns from the fees. The whole thing serves as future-oriented solution. No ICO or coin sale. The whole project is based on optimized existing technologies. |
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Never mind check out my new project isBTC, based on the bitcoin algo so I can use the name no problems.
Bestiest coin, you pay. Lucky wwesterns.
i think the most important is to present a project that delivers its purpose reliably and well but there are some projects based on the Bitcoin algo with the name Bitcoin ..... |
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Seems like another bandwagon name jumper. No relation at all to the real Monero. Never spoke with Monero people just a reputation stealer.
Even worse than CSW who at least pretends he created the original.
Model is Stable coins, like teather? what could go wrong?
Get printing woop!
monero as collateral integration for the monero dollar is also on the road map but that takes a little bit more time |
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Is that modified smart contract audited or not?
I guess modification is that you increased fee or maybe you tweaked other stuff also...
smart contract currently in audit. nothing tweaked just optimised for the TUSD/DAI and Monero Dollar Pool. |
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Seems like another bandwagon name jumper. No relation at all to the real Monero. Never spoke with Monero people just a reputation stealer.
Even worse than CSW who at least pretends he created the original.
Model is Stable coins, like teather? what could go wrong?
Get printing woop!
Monero Dollar and Monero are based on the same technology with the onliest difference monero is volatile and monero dollar is stable. what could go wrong with tether? - not 100% backed - printing without collateral why can't that happen with the monero dollar? - backed via TUSD and DAI - no minting, all premine coins are frozen in the atomic swap contract and only paid out with collateral |
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How is this coin related to original anonymous Monero coin? Do you have backed USD fiat money for your stable coin and how much? And by whoms your coins checked and backed?
the monero dollar use the same monero algo randomX backed with TUSD and DAI - after the platform is live, you can view every transfer and deposit in smart contracts. the swap works with modified atomic swaps. |
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The logo is similar to the XMR Monero logo.
what are the advantages and significant differences of XMRD with XMR ?
The logo is similar because it is based on the monero technology. significant difference: - XMRD is a stablecoin 1 XMRD are 1 TUSD/DAI and not volatile (more multi collateral is coming soon) so the question is how to make it a stablecoin? Any team backed ? There are two pools. 1 TUSD/DAI and 1 Monero Dollar. Premine and mining rewards until now are used 100% for the Monero Dollar Pool and when TUST or DAI is deposited, the Monero dollar is payed out. vice versa the same you can get the monero dollar only with existing collateral or with mining. |
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TUSD or DAI in and Monero Dollar out
Monero Dollar in and TUSD or DAI out
Why do you compare it with other mixers? and NO...fee is not low. I can just do one simple thing with much lower fee. Buy Monero and any other stable coin on exchange, when I want to buy/sell. 10-20 times less fee Other than that XMRD is premined, and centralized. Goal: the mixer goal is it to make it more private the monero dollar goal is it to make it as private as possible with the monero technology and modified atomic swap contracts. people use stablecoins to get not volatile coins. if you want to sell or buy products, it is much better for you and the buyer to use stablecoins because on the next day you own still the same value. the most people buy monero because of the privacy and if you buy any other stablecoin on the market your privacy will no longer be available if you use it to buy and sell or pay anything. |
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I am still not convinced that USDt is safe. As far I have red, they havent proved their legitimacy.
We have only seen negative proof in media and forums about their impact , they are very secretive and have been for years this indicates that there is shady bussines going on behind the curtian.
prehisto check the new stablecoin Monero Dollar (#xmrd) which is a secure, decentralized, private, untraceable Stablecoin https://bitcointalk.org/index.php?topic=5214640.msg53512987#msg53512987 |
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The logo is similar to the XMR Monero logo.
what are the advantages and significant differences of XMRD with XMR ?
The logo is similar because it is based on the monero technology. significant difference: - XMRD is a stablecoin 1 XMRD are 1 TUSD/DAI and not volatile (more multi collateral is coming soon) |
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Do you have a link to the discussions you had with the Monero community pitching this idea and suggesting use of their name against it?
The bitcointalk post is the first post about the project monero dollar. The project is not against monero, the project is working with the monero technology but based on the principle of stable coins. We are happy to discuss the monero dollar with the monero community if you have good community contacts. |
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For now the platform is not published.
There are two pools. 1 TUSD/DAI and 1 Monero Dollar.
Premine and mining rewards until now are used 100% for the Monero Dollar Pool and when TUST or DAI is deposited, the Monero dollar is payed out.
vice versa the same
So, you are saying the project does not have any treasury right now for TUSD/DAI pool and only has the XMRD pool from the premine. Is it correct? 12,500 TUSD and 12,500 DAI are the start balance in the TUSD/DAI pool and the XMRD Pool includes all premine and all minining rewards the onliest opportunity to get XMRD is mining and deposit TUSD or DAI for the swap it is the onliest decentralized and privacy focused stablecoin on the monero technology |
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4. Value is pegged to TUSD / DAI ( 1 XMRD = 1 TUSD / 1 DAI )
For now how many TUSD / DAI do you have? This project should have a treasury, right? since the blockheight > 12.000. For now the platform is not published. There are two pools. 1 TUSD/DAI and 1 Monero Dollar. Premine and mining rewards until now are used 100% for the Monero Dollar Pool and when TUST or DAI is deposited, the Monero dollar is payed out. vice versa the same |
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I don't see how this is private, as you never stated what algorithm you are using,
and I wonder why you called in Monero Dollar if it has nothing to do with Monero...
And that double 1% deposit and withdrawal fee is very high
Monero Dollar because RandomX Algo from Monero - Compared to crypto mixers is the fee very low and you use Monero Dollar as privacy Stablecoin. TUSD or DAI in and Monero Dollar out Monero Dollar in and TUSD or DAI out
This user's account is less than a day old.
The User account is less than a day old correct but you don't have to trust the user account, you just have to trust the blockchain technology. Decentralized swap option via modified atomic swaps. The fee is used to keep the mining rewards stable.
Good luck, keeping an eye on this.
thank you patel |
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Wallet will be available for download within the next 14 days together with the Monero Dollar Swap Platform.
External mining must start at the same time as the platform in order to cover the mining rewards with the fees.
...within the next 14 days but Blockheight already >12,000? The decentralized swap platform has to be completed before the publication and the blockchain is required in advance. |
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If I were to be anticipating an extended bear market, I'd rather just take the fees of converting my crypto to fiat money and keep that fiat money until I see market conditions improving and convert it back to cryptocurrencies later. One main advantage that stablecoins have is that they can be traded just like fiat dollars but without the string attached with trading with fiat, which is partly why so many traders use stablecoins, but you lose that when you're keeping the stablecoin for an extended period of time.
I also see most stablecoins as being slightly risky even though they might claim to be extremely safe and secure, especially Tether. I don't use Tether, I don't plan on ever using it, and I certainly won't be holding it.
Check Monero Dollar (#xmrd) is a secure, private, untraceable Stablecoin https://bitcointalk.org/index.php?topic=5214640.msg53512987#msg53512987 |
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Algo  Wallet ? RandomX Wallet will be available for download within the next 14 days together with the Monero Dollar Swap Platform. External mining must start at the same time as the platform in order to cover the mining rewards with the fees. |
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Monero Dollar (XMRD)Consortium October 06, 2023 AbstractThe 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. IntroductionCryptocurrencies 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 OverviewMonero 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 ArchitectureThe 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 MechanismCreating 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 StructureThe 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 PegDAI 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 ContextThe 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. ConclusionMonero 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.orggitlab: https://gitlab.com/XMRDtg: https://t.me/monero_dollarx: https://twitter.com/monero_dollar
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