Introducing HonestUSD: Transparent and USD-backed Stablecoin

[samsunwater]

Website:
  https://honestusd.com/
Social Media:
   Reddit: https://www.reddit.com/r/honestusd/
   Twitter: https://twitter.com/honestusd
   Telegram: https://t.me/joinchat/GyvSNBJ-DZmvnV3OjSwYPg


     HonestUSD(USDH) is a non-volatile transparent cryptocurrency that is backed 1-to-1 with the US Dollar. USDH will solve the lack of transparency from the tether team by transferring  control back to the community. We know there has been a lot of worries in the community on possible collapse of tether which can significantly damage the reputation of our whole community. We came up with a system that allows everyone that holds USDH to have absolute knowledge that their money is backed by USD putting trust and confidence back into the community.


Our mission
Our mission is to provide a non-volatile currency that can be traded for US Dollar at a 1-to-1 ratio regardless of market fluctuation.
We aim to provide traders and everyone with a trusted, stable , private, low-fee and fast cryptocurrency that can be used as an easy means of exchange.

Transparency
To ensure and enforce transparency, we will be forming a Transparency Committee with selected(through votes) members of various cryptocurrencies communities to continuously audit the operations of HonestUSD and report back to their various communities.
We will put USDH into circulation only when it is backed by a US Dollar.
To build better trust, we will have a professional audit every 6 months and the result will be shared with everyone in the community. The audit company will be selected by the community.

Exchange
You will be able to buy USDH with US Dollar on our website and with other cryptocurrencies at various exchanges. Also, you will be able to convert USDH
back into US Dollar which will be deposited in your bank account if you choose to.

[thegrey]

First!(?)
Say...what?
edit: chuckleworthy

[supaflyx3]

How many million coins do you plan to mint per day?

[lestherat]

Non volatile coin, why in the hell we would want that?  Now the value of your coin is 1 usd, in 10 years same 1 usd, Better buy Bitcoin or any shitcoin, the value in 10 years will be 100000% more than your coin.

Thanks but no thanks, sorry to say, but stupid idea.

[samsunwater]

How many million coins do you plan to mint per day?

   
  As I mentioned above, we only mine more coins when backed up with US Dollar. Also, any decision to mine coins must be approved by the majority of the Transparency Committee who will be figures selected through votes from the crytocurrency community.

Non volatile coin, why in the hell we would want that?  Now the value of your coin is 1 usd, in 10 years same 1 usd, Better buy Bitcoin or any shitcoin, the value in 10 years will be 100000% more than your coin.

Thanks but no thanks, sorry to say, but stupid idea.

I understand what you mean from the point of view of a trader looking to make profit but you have to understand we have people who want a stable coin in times of BTC volatility(only reason why we use Tethers). Also, think about online sellers who are scared of the instability of crypto prices but want to take advantage of fast, low-fee blockchain transactions. Stable coins have a lot of applications.

[mashcanner83]

How do the fees for transferring currency compare to those of other cryptographic and fiat currencies?

[samsunwater]

How do the fees for transferring currency compare to those of other cryptographic and fiat currencies?

Transfer has very low fee, fast and we expect this to reduce even more in the future with deployment of side chains and the fact that most of the transactions will be taking place on the exchange unclogging the network.

[lubing7683]

The introduction of the project is very simple on this thread, and your website has nothing, do you do everything well? I hope you'll update it as soon as possible