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

[XMRD]

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.

Goal:
the mixer goal is it to make it more private

the monero dollar goal is it to make it as private as possible with the monero technology and modified atomic swap contracts.

people use stablecoins to get not volatile coins. if you want to sell or buy products, it is much better for you and the buyer to use stablecoins because on the next day you own still the same value.

the most people buy monero because of the privacy and if you buy any other stablecoin on the market your privacy will no longer be available if you use it to buy and sell or pay anything.

[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)

so the question is how to make it a stablecoin? Any team backed ?

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

you can get the monero dollar only with existing collateral or with mining.

[XMRD]

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?

the monero dollar use the same monero algo randomX
backed with TUSD and DAI - after the platform is live, you can view every transfer and deposit in smart contracts. the swap works with modified atomic swaps.

[XMRD]

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!

Monero Dollar and Monero are based on the same technology with the onliest difference monero is volatile and monero dollar is stable. 

what could go wrong with tether?
- not 100% backed
- printing without collateral

why can't that happen with the monero dollar?
- backed via TUSD and DAI
- no minting, all premine coins are frozen in the atomic swap contract and only paid out with collateral

[notblox1]

Is that modified smart contract audited or not?
I guess modification is that you increased fee or maybe you tweaked other stuff also...

[XMRD]

Is that modified smart contract audited or not?
I guess modification is that you increased fee or maybe you tweaked other stuff also...

smart contract currently in audit. nothing tweaked just optimised for the TUSD/DAI and Monero Dollar Pool.

[XMRD]

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!

monero as collateral integration for the monero dollar is also on the road map but that takes a little bit more time

[Globb0]

Never mind check out my new project isBTC, based on the bitcoin algo so I can use the name no problems.

Bestiest coin, you pay. Lucky wwesterns.

[XMRD]

Never mind check out my new project isBTC, based on the bitcoin algo so I can use the name no problems.

Bestiest coin, you pay. Lucky wwesterns.

i think the most important is to present a project that delivers its purpose reliably and well but there are some projects based on the Bitcoin algo with the name Bitcoin .....

[kryx]

I'm keeping an eye on this...

Let's wait for the wallet to be released

[Millionero]

I'm keeping an eye on this...

Let's wait for the wallet to be released exit scam

FTFY

[XMRD]

I'm keeping an eye on this...

Let's wait for the wallet to be released exit scam

FTFY

Everything is decentralized and the team only earns from the fees. The whole thing serves as future-oriented solution.
No ICO or coin sale. The whole project is based on optimized existing technologies.

[XMRD]

I'm keeping an eye on this...

Let's wait for the wallet to be released

thank you kryk.

the wallets are the same as the monero wallets.

[Bitelbola]

 Hi there! I was talking not long ago with a friend of mine about how badly we need private stable coins. I'm happy to finally see something along those lines! I would preferably have a stable coin backed by XMR instead, just like Dai is backed by ETH, in order to reduce counter party risks (if Dai goes XMRD goes as well he). But I suppose this is the next best thing to start with.
 Just like the others, I have my own reservations about the code but I think we should all just give this project the benefit of the doubt until things are released for review.

 Can't wait to start mining this thing, let alone using it.

[GoFY]

If anyone interested I can sell 60 XMRD for 40$ in any cryptocurrency 

[XMRD]

If anyone interested I can sell 60 XMRD for 40$ in any cryptocurrency  

GoFY its a pleasure you started mining already. The important milestone will be after the swap platform start. Trough the swap you have the guarantee if you bring the XMRD back you get your TUSD/DAI collateral back.

[XMRD]

Algo
Wallet ?

Monero Dollar XMRD Wallets


Windows:
https://gitlab.com/XMRD/windows-xmrd-wallet

Mac:
https://gitlab.com/XMRD/macos-xmrd-wallet

Linux:
https://gitlab.com/XMRD/linux-xmrd-wallet

[GoFY]

If anyone interested I can sell 60 XMRD for 40$ in any cryptocurrency  

GoFY its a pleasure you started mining already. The important milestone will be after the swap platform start. Trough the swap you have the guarantee if you bring the XMRD back you get your TUSD/DAI collateral back.

So when exactly platform will be released?

[XMRD]

If anyone interested I can sell 60 XMRD for 40$ in any cryptocurrency  

GoFY its a pleasure you started mining already. The important milestone will be after the swap platform start. Trough the swap you have the guarantee if you bring the XMRD back you get your TUSD/DAI collateral back.

So when exactly platform will be released?

The functions are already finished. Just working on the Frontend. We hope next week.

[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