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Author Topic: [ANN]Constant Stable Coin MVP Launch: A more useful money  (Read 394 times)
timnguyen89
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February 19, 2019, 04:25:55 AM
Last edit: March 28, 2019, 02:42:00 PM by timnguyen89
 #1

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What is Constant?

Constant is a burnable, mintable ERC20 stablecoin pegged to USD and 100% backed by a publicly-audited reserve. Developed as the ideal stablecoin, Constant is a stable unit of account, a secure store of value, and an efficient medium of exchange.


Why Constant?

Imagine if sending, storing, and managing money was as easy as sending a text message. Globalisation has brought us closer together, our needs have evolved, and yet the global financial system is still stuck in the dark ages.

Constant leverages what works in both the fiat and crypto worlds while stripping out what doesn’t to create a more useful, mobile, global money. You can buy, store, or transfer Constant to anyone, anytime, anywhere, and at zero to low cost.






Constant for everyone:

  • 1:1 backed by the US dollar, the most stable fiat currency in the world

Say goodbye to volatile markets and economies, and say hello to a stable store of value for your hard-earned money.

  • Fast, flexible, and cheap international transfers

Say goodbye to tedious bank transfers that take days to process and cost up to $50 dollars in fees. Transfer instantly, at zero to low cost.

  • Easy mobile payments

Send, store, and manage your money wherever you go, safely secured by blockchain technology and ready to go when you are.

  • Works anywhere, anytime

Don’t be slave to your bank’s opening hours. Constant is always open, no matter what time of day, month, or year.

  • Intuitive, simple UX

Manage Constant with just an email address and password. Clear, easy to use interface, with consistent feedback at every step.




Constant for businesses:

  • No more chargebacks

Constant payments are irreversible and secure, minimizing the cost of fraud for your business.

  • Multi-signature support

Constant can automatically approve transactions once relevant parties have signed them off, creating an efficient and frustration-free sign-off process.

  • Online payments

It’s really easy to add Constant to your existing e-commerce site. There are many 3rd party payment processing services that support ERC20 tokens and have stable APIs.

  • Offline payments

Accepting payments is as easy as scanning a QR code. Simply use your digital wallet to scan the QR code from your customer’s wallet (as long as they both support the common ERC20 standard).




Constant for traders:

  • Maximise gains while hedging against losses

Constant is the perfect hedging coin. Protect your gains from market volatility and hedge against losses with the battle-tested stability of the USD.

  • Lower fees and transaction times

Use Constant as an alternative to fiat deposits for lower fees and faster transactions. BTC or ETH deposits might lose value, but 1 Constant always equals 1 USD.




Constant for developers:

  • Be your own bank or payment gateway

You don’t need approval from a bank or payment processor.  You can just boot up a node and become your own.  

  • Simple yet powerful programming model

You no longer have to store customer information on your server and be responsible for protecting it. The chain itself is the most secure database, immutable and protected from any single point of failure – taking payments is as simple as a few API calls to the blockchain via the web3.js library.

  • Integrate into your existing website or apps

Constant is an ERC20 token, so you can integrate Constant into your existing web and mobile apps via commonly used tools like metamask.










How does Constant work?

An overview of the Constant System


The Constant Trust Vault

For every single Constant that’s minted, a dollar deposit is made to the Constant Trust Vault, an escrow account managed by Prime Trust, a US accredited financial institution. This guarantees Constant’s value and fungibility.

The Constant Trust Vault will accept USD only, but in the future, we plan to add other assets, including, but not limited to, the following:

  • Cryptocurrencies
  • Other currencies (like EUR, for example)
  • Tokenized securities (property, fine art, stocks, and so on)


The decentralized payment network

Constant combines the benefits of distributed ledger technology with the creditworthiness and stability of the US Dollar.

The decentralized payment network is peer-to-peer, operating without central authority or banks. Processing and managing transactions are carried out collectively by the users of the network. Network users handle all payment and settlement, safely and efficiently.



The Constant Foundation

As the founding team that makes initial decisions with regard to the building and running of the Constant System, The Constant Foundation is responsible for UX/UI, monetary policy, and getting Constant into the hands of as many users as possible.

Over time, the Constant System will become increasingly decentralized, so that decision-making powers will ultimately belong to the community at large.










2019 Technical roadmap






2019 Market roadmap






How is Constant built?

Constant is open source at https://github.com/constant-money. The Constant System is built to evolve with the community, so it is open and transparent to the public.

At the infrastructure layer, Constant is built on top of the Ethereum network to enable payments, and Prime Trust API, for escrow.

On the backend, Constant includes a number of smart contracts for minting and burning Constant. It also includes off-chain components to provide better UX. Finally, it includes a set of developer APIs to enable developers to integrate Constant into their products.

On the frontend, Constant provides both web and mobile interfaces.  We hope that over time, more web and mobile apps will be built with Constant.











Get involved today!






Important Links




                                            
WEBSITE  |  WHITEPAPER  |  PRESS KIT  |  TELEGRAM  |  TWITTER  |  FACEBOOK  |  MEDIUM  |  GITHUB  |  ETHERSCAN







Get Constant on reputable exchanges!


 
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February 19, 2019, 06:58:03 AM
 #2

I saw your project listed on three exchanges.
That great news. Good luck for your project.
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February 19, 2019, 07:23:08 AM
 #3

Stable Coin look like a good idea these days. The market is full of tokens and somewhere - scam coins. Yes I really need something stable.
Can you let me know how fast is it when I want to convert my constant token to USD and is there any fee? Thanks
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February 19, 2019, 08:11:43 AM
Last edit: February 19, 2019, 08:35:41 AM by timnguyen89
 #4

I saw your project listed on three exchanges.
That great news. Good luck for your project.

Thank you very much – we look forward to announcing more news soon.

Stable Coin look like a good idea these days. The market is full of tokens and somewhere - scam coins. Yes I really need something stable.
Can you let me know how fast is it when I want to convert my constant token to USD and is there any fee? Thanks

Hi kevin52, great question. The answer depends on a few things, such as KYC, where you're based, and how quickly your bank can process payments. Assuming we've verified your identity (the KYC bit), the conversion takes place instantly and Prime Trust – the trust company looking after our USD reserves – sends the USD to your bank account. Since banks are typically slow, it might be a day or two to receive the USD (possibly longer if you bank outside of the US).

The fee to convert Constant to USD through our network is 0.5%, which reduces to 0.25% if you're a student or faculty member with a .edu email address. Fees start from as little $1 (200 Constant) for US bank account holders, and $35 (7,000 Constant) for international customers. You can also sell Constant to a local buyer for free. You can read more about our pricing on https://constant.money/static/pricing.

Let me know if you have any more questions  Smiley
timnguyen89
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February 19, 2019, 08:14:06 AM
 #5

Russian translation reserved if you need

Thank you! We'll let you know.
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February 19, 2019, 08:29:12 AM
 #6

If your coin is 1:1 backed by the US dollar why you're selling it for $0.5?

It looks very unstable. Where is the stability?
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February 19, 2019, 08:38:05 AM
 #7

You sent your distribution to Asian countries.
This is a good decision. There is a huge need for this.
But why did you decide that you need to create another coin equivalent to a dollar?
You can consider an alternative to it. This is for Asian countries.
HKD CNY SGD KRW JPY INR

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February 19, 2019, 08:42:17 AM
 #8

You wrote. "1: 1 with the support of the US dollar, the most stable world currency." What does it mean? You will value the value of your coin to the value of a dollar? And what will you provide it. For example, USDT works on many exchanges and is supported.

timnguyen89
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February 19, 2019, 08:45:49 AM
 #9

If your coin is 1:1 backed by the US dollar why you're selling it for $0.5?

It looks very unstable. Where is the stability?

Sorry v2urs, I think there might be some confusion. We sell Constant for $1 each, always. We do charge a fee of 0.5% for converting Constant back into USD, though – is that what you were thinking of?
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February 19, 2019, 08:50:58 AM
 #10

You sent your distribution to Asian countries.
This is a good decision. There is a huge need for this.
But why did you decide that you need to create another coin equivalent to a dollar?
You can consider an alternative to it. This is for Asian countries.
HKD CNY SGD KRW JPY INR

Hi 101nowby,

Thanks for your support. We'd love to include some other currencies as collateral for Constant in the future, but we chose the US Dollar first as it's the most stable fiat currency in the world.

We will eventually look at including other currencies and tokenized assets, but our priority right now is to give people a stable, secure store of value and the simplest way to do this was with the USD.
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February 19, 2019, 09:02:22 AM
 #11

You wrote. "1: 1 with the support of the US dollar, the most stable world currency." What does it mean? You will value the value of your coin to the value of a dollar? And what will you provide it. For example, USDT works on many exchanges and is supported.

Hi Krezz2017,

It means that Constant's value is pegged to the USD. For every Constant we create, we deposit 1 USD into a US trust company, ensuring 1 Constant always equals 1 USD. Likewise, we burn 1 Constant for every one converted to USD.

You can buy Constant from us directly, through local sellers, or on Bancor, Crex24, and P2PB2B exchanges (with more to come very soon).

Hope this helps :-)
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February 19, 2019, 09:14:51 AM
 #12

So you dont actually get 5 coins for registration as there is no place to enter the code for 5 coins they mention in OP

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February 19, 2019, 09:47:00 AM
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So you dont actually get 5 coins for registration as there is no place to enter the code for 5 coins they mention in OP

Hi Kid_diK,

Sorry you're having trouble redeeming your code. You might be looking at the Vietnamese version of the site, which currently doesn't have the invitation code box. We're investigating this, but in the meantime, please change the language to English at the top right and you'll find the invitation code box beneath the email address and password boxes when opening your account.

If you still have trouble, let me know.
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February 19, 2019, 09:56:35 AM
 #14

Ok, got 5 constant now, but transfering to eth address is not instant?

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February 19, 2019, 10:27:33 AM
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Ok, got 5 constant now, but transfering to eth address is not instant?

Great! Glad you got your 5 free Constant. The speed of transferring to an eth address will depend on the ethereum network, but should be less than a minute.
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February 19, 2019, 08:28:59 PM
 #16

You wrote. "1: 1 with the support of the US dollar, the most stable world currency." What does it mean? You will value the value of your coin to the value of a dollar? And what will you provide it. For example, USDT works on many exchanges and is supported.

Hi Krezz2017,

It means that Constant's value is pegged to the USD. For every Constant we create, we deposit 1 USD into a US trust company, ensuring 1 Constant always equals 1 USD. Likewise, we burn 1 Constant for every one converted to USD.

You can buy Constant from us directly, through local sellers, or on Bancor, Crex24, and P2PB2B exchanges (with more to come very soon).

Hope this helps :-)
I didn't get the idea. Can you please explain with maximum simplicity? What is main difference among other stable cryptos?

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February 20, 2019, 03:50:47 AM
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You wrote. "1: 1 with the support of the US dollar, the most stable world currency." What does it mean? You will value the value of your coin to the value of a dollar? And what will you provide it. For example, USDT works on many exchanges and is supported.

Hi Krezz2017,

It means that Constant's value is pegged to the USD. For every Constant we create, we deposit 1 USD into a US trust company, ensuring 1 Constant always equals 1 USD. Likewise, we burn 1 Constant for every one converted to USD.

You can buy Constant from us directly, through local sellers, or on Bancor, Crex24, and P2PB2B exchanges (with more to come very soon).

Hope this helps :-)
I didn't get the idea. Can you please explain with maximum simplicity? What is main difference among other stable cryptos?

Hi mrdeposit,

Sure, no problem – sorry if I wasn't clear.

Constant is a stable digital currency that costs 1 USD to buy.  When you buy Constant, we put that USD into a trust and send Constant to your account. You can then store Constant for the long term, send Constant overseas, or sell it to local buyers – all for free, and without Constant losing value.

Then, when you decide to change your Constant back into USD, we take USD from the trust and send it to you, and at the same time, destroy your Constant. This ensures the supply of Constant always matches the supply of USD, which keeps the USD value of Constant stable.

Here's an example...

You buy 100 Constant from us, costing $100. You can then move that Constant around the world for free or save it. When you're ready to convert your Constant back into USD, we will destroy (burn) your 100 Constant and send $100 back into your bank account.

Why use Constant?

As a stable digital currency, Constant has many uses, including:

- Use Constant to send value to anyone, anywhere, for FREE.
- Use Constant to stabilize the value of your cryptos. If you're worried about Bitcoin losing value, for example, buy Constant and protect your investment until you're ready to trade again.
- Use Constant as a "virtual" USD account, whether you're based in the US or not, with FDIC insurance to $130M protecting your account.

What makes us different to other stablecoins?

1. Our focus on utility. We've designed Constant to be the most useable stablecoin ever, meaning you can manage or use Constant from your mobile phone, anywhere in the world, and change back into USD whenever you like.

2. Our transparency. You can see how many Constant is in supply as well as view public audits of our USD trust to ensure they match.

3. Our security. We never touch your funds – everything between you, us, and the trust company is managed by a smart contract on Ethereum. Also, since the trust company is an accredited US financial institution, your account is FDIC insured up to $130M.


I hope this has helped to explain things a bit more for you. You can also check our website https://constant.money and our Medium blog https://medium.com/@constantmoney to find out more.

Otherwise, please let me know if I can help further.
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February 20, 2019, 08:01:55 AM
 #18

I think everything is clear now. The only thing I do not see the differences in the functioning of the same coin, which works as a replacement for the dollar. Such a coin is called USDT on many exchanges. If so, that is good.
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February 20, 2019, 08:19:31 AM
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Hi team. Seems like your stablecoin is quite similar to tusd.
Thanks for your giveaways. How can I convert it to USD in my bank account?
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February 20, 2019, 08:26:12 AM
 #20

Hi team. Seems like your stablecoin is quite similar to tusd.
Thanks for your giveaways. How can I convert it to USD in my bank account?

You can sell it on crex24 for bitcoins Smiley


Btw. Question for the team....when you are gonna make discord channel? We need one

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