Money on Chain - Bitcoin-Collateralized Stablecoin

[Maritu]

Excellent article from The Merkle about how Money On Chain aims to solve the volatility of cryptocurrency.

Read it here: https://themerkle.com/money-on-chain-the-new-breed-of-btc-backed-stablecoins/ 🙌


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“The MoneyOnChain ecosystem will oversee the governance of a loan system, locking up bitcoin as collateral.

Some words from Zycrypto article about Money On Chain's mainnent:

https://zycrypto.com/first-bitcoin-collateralized-stablecoin-launches-on-the-rsk-network/

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“DeFi has been predominantly focused on Ethereum, but it seems that it’s about to change. Money on Chain has now launched a decentralized stablecoin protocol on RSK“

iHodl article about Money On Chain platform launch

Read more at https://ihodl.com/topnews/2019-12-13/first-bitcoin-backed-stablecoin-launches-rsk-network/

[Maritu]

Peter McCormack doesn't talk much about Stablecoins in his What Bitcoin Did podcast, so laBITconf team made him to learn about the topic on the panel of Max Carjuzaa (Money On Chain), Mariano Dipietra (Makerdao), N. Freeman (Reserve) and Joshua Scigala (Vaultoro.com)

Watch video ▶︎ https://www.youtube.com/watch?v=Ql5JcX4MCFk

[Maritu]

Why should we care to learn about Stablecoins? This is how Peter McCormack started the panel at laBITconf.

Watch video ▶️ https://youtu.be/8nffDNBPDXc

🗣️ Max carjuzaa (Money On Chain)
🗣️ Mariano Dipietra (Makerdao),
🗣️ N. Freeman (Reserve)
🗣️ Joshua Scigala (Vaultoro.com)

[FreemindUY]

If this is a stablecoin and pegged to Bitcoin, how many bitcoins will you be holding in collateral and at what rate will the coins be exchangeable for Bitcoin? Where will you keep the bitcoins and who will be controlling it? Where will the bitcoins collateral come from?

Great question but I don't think the team will answer this important question. Actually, it is very easy to answer if they do have that amount of bitcoin as collateral. By the way, USDT project admitted before they don't have that amount of dollars as what it should have been. So it is only a matter of time when will they give the true statement regarding their assets.

Hi, sorry, the team had been super busy with launch on Mainnet. The DOC is a Stablecoin that is not pegged to bitcoin, it is pegged to the USD price. The smartcontract exchanges the DOC for the amount of RBTC at current rate (1 DOC= 1 USD). The SmartBitcoins (RBTC) are in a SmartContract. The control of the Smart Contract will be held by MOC token holders (that is something we are still building). The bitcoins in the collateral come from Bitcoin holders that want to earn a passive income and get a free leverage (buying BPRO for that).

Regarding the collateral info, you can review all metrics in the platform, and also look for the info in https://explorer.rsk.co/

There is a group in telegram you can join also for more info: https://t.me/MoneyOnChainCommunity

[JuanMD]

Today brasilian users have been experiencing some issues with their connection to the Mainnet, due to a problem with the country's internet service.

Even though it has been fixed, if you experience any issue please let us know!

[Maritu]

Money On Chain and RSK hosted a workshop about DeFi a few days ago.

Here are some words from IOV Labs CEO Diego G. Záldivar at the end of the workshop

▶️ https://youtu.be/oC-gJHURcx4

[MoneyJ]

Interesting to have a DeFi that spearheading RSK . And there are few enthusiasts knowingly how big potential it is with MoneyOnChain. Any moderator from the group that might interact?