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

[PapaGruz]

Hello. Any news? When be discord?

[1715093092]

1715093092

[Globb0]

How is this nothing to do with Monero project working out?

[0verseer]

Hello. Any news? When be discord?

With a coin that only has following up-name of something already big, I think you better work your hype elsewhere. Sure everyone deserves a chance but don't expect much hope from it.

[Gash]

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

This is terrific news, and Im gonna track the progress you make here. Coz tether is seemingly dead and dangerous to deal with. Does this have any affiliation with monero itself? are monero team themselves aware that there is a stablecoin being built, utilizing monero tech? And it looks as though this might of impacted the recent monero pump in some way. If its legit its fucking terrific.

[Daddygogo]

how do i get my hands on some ? any airdrop man?

[podpod]

What a load of crap.   
Give you something worth a lot and you give me your crap coin worth nothing

[XMRD]

Hello. Any news? When be discord?

hello. no discord but telegram. https://t.me/monerodollar

[XMRD]

How is this nothing to do with Monero project working out?

the project is setup on the monero blockchain technology.

[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

This is terrific news, and Im gonna track the progress you make here. Coz tether is seemingly dead and dangerous to deal with. Does this have any affiliation with monero itself? are monero team themselves aware that there is a stablecoin being built, utilizing monero tech? And it looks as though this might of impacted the recent monero pump in some way. If its legit its fucking terrific.

hello gash. tether is centralized and xmrd is decentalized. we know about the issues from tether and we solved this issues. we used the monero technology to build the privacy stablecoin. the technology for the swap is build form us. XMRD is not related with monero expected the blockchain technology.

XMR will be added as collateral in the near future as well.

[XMRD]

What a load of crap.   
Give you something worth a lot and you give me your crap coin worth nothing

decentralized technology are a load of crap?

the people love monero because it's private and decentralized and the people will love XMRD because XMR get more usage and XMRD works as 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

[Daddygogo]

any airdrop??

[Millionero]

I'm leery of stablecoins like tether and dai.  If tether or dai collapses, what happens to Monero Dollar?  You claim it's pegged to USDT and DAI.

[XMRD]

any airdrop??

later this year

[XMRD]

I'm leery of stablecoins like tether and dai.  If tether or dai collapses, what happens to Monero Dollar?  You claim it's pegged to USDT and DAI.

no USDT (not secure enough) just TUSD and DAI. DAI is 150% (or more) backed with different Crypto collaterals and TUSD it's 100% backed with USD which is certified. we will also add the option to use more different currencies which include Monero and BTC to get the stable portfolio.

"more currencies more security"

[Daddygogo]

any channels to follow ? community

[Asman1978]

any channels to follow ? community

Twitter:
https://twitter.com/monero_dollar

Telegram:
https://t.me/monerodollar

[Daddygogo]

rather get discord guys. far better community to interact with.

[Rabinovitch]

Hi all! What is "YOUR_CHILD_WALLET_ADDRESS" and what is "merged mining" here in XMRD?

[XMRD]

Hi all! What is "YOUR_CHILD_WALLET_ADDRESS" and what is "merged mining" here in XMRD?

the your child wallet is not needed