[ANN] Monero Dollar (#xmrd) is a secure, private, untraceable Stablecoin

[XMRD]

Monero Dollar (XMRD)
Consortium
October 06, 2023

Abstract
The 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.

Introduction
Cryptocurrencies 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 Overview
Monero 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 Architecture
The 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 Mechanism
Creating 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 Structure
The 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 Peg
DAI 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 Context
The 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.

Conclusion
Monero 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.org
gitlab: https://gitlab.com/XMRD
tg: https://t.me/monero_dollar
x: https://twitter.com/monero_dollar

[1713903184]

1713903184

[1713903184]

1713903184

[olkah]

Algo
Wallet ?

[XMRD]

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.

[Daniko7]

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?

[XMRD]

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.

[notblox1]

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

[Millionero]

This user's account is less than a day old.

[XMRD]

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

[Javi_Anibarro]

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.

[XMRD]

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

[Javi_Anibarro]

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?

[XMRD]

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

[Globb0]

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?

[XMRD]

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.

[Cimmy_revenger]

The logo is similar to the XMR Monero logo.
what are the advantages and significant differences of XMRD with XMR ?

[XMRD]

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)

[keseoma]

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 ?

[notblox1]

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.

[Globb0]

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!

[gembira]

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?