[ANN] YggChain - Elastic Supply Price-Stable Coin + Instant Transfer + Sharding

[dudman8]

I want to know more details of your project ?

[dvietha]

Any drawback/weakness of double token stable coin compare to fiat money back stable coin like USDT?

Well, USDT is extremely easier to implemented because it's centerlized service. Otherwise, I don't think there is any drawback/weakness for this kind of project over USDT or TUSD.

I'm thinking that money-wise; fiat-back stable coin is less risky in case of crypto currency crashing. In this sense, USDT holders basically still can claim back equivalent dollars when the crypto space disappear. What do you think about this?

[Zergity]

Any drawback/weakness of double token stable coin compare to fiat money back stable coin like USDT?

Well, USDT is extremely easier to implemented because it's centerlized service. Otherwise, I don't think there is any drawback/weakness for this kind of project over USDT or TUSD.

I'm thinking that money-wise; fiat-back stable coin is less risky in case of crypto currency crashing. In this sense, USDT holders basically still can claim back equivalent dollars when the crypto space disappear. What do you think about this?

IOU token is less risky in case of crypto currency crashing, yes, because it basically is fiat money being recorded in a blockchain, no more nor less. The same way your money is recorded in a database of a bank.

IOU token is much more risky than Segniorage Shares stablecoin in term off trust (service security) and technical security. In Segniorage Shares, no one owes anyone anything, so your money cannot be stolen nor cheated. While Tether can always run away with your money, or lies about a security breach to declare bankrupted.

[Apula]

where is your bounty ?? you need to add bounty for this project to attract many participants and success.

[ndbinh]

How to mine? Total coin supply?

[Edgar9]

This is the best project with a great future, the team is actively working and developing new advanced technologies!

[Zergity]

where is your bounty ?? you need to add bounty for this project to attract many participants and success.

Affirmative! We will release bounty in the first public phase to demonstrate the stabilization mechanism. There will be the first version, where:
1. The chain is (temporarily) permissioned, nodes can only be run by the team.
2. No mining reward, (until it goes public and permissionless).
3. Both tokens will be listed in an exchange or two. (At least a very small and new exchange, because we are not popular nor super rich).
3. Bounty will be distributed to the community to attract trading activity, just enough to generate some liquidity to demonstrate the stablization mechanism.

[Zergity]

How to mine? Total coin supply?

You can join mining or staking when the chain goes public. Mining is much like ETH mining, although you cannot hop between Ether and YggChain, but the rig should be quite the same.

There will be limited YggCoin can be mined, but the total coin supply is not fixed nor deterministic. Remember, this is an elastic supply cryptocurrency, the circulating supply of both tokens is always contracting and expanding depend on the market demand of YDR.

[Nggedebus]

There isn't many coins that able to be used for daily need. and when there is sometimes the stability of the price keep on fluctuating.
Making it harder to used it for daily need.

[Zergity]

There isn't many coins that able to be used for daily need. and when there is sometimes the stability of the price keep on fluctuating.
Making it harder to used it for daily need.

That's what we are trying to solve.