This looks like another interesting tokenziation platform. Looking at the whitepaper, how do we know the "guarantor" actually has the underlying (tethered) asset? Will there be 3rd party audits, like on Ankorus.org's platform (ANK)?
Thanks!
1. Our system doesn't require as much trust / centralization
A tethered token on our network can be redeemed for the underlying value in ETH, BTC or JNT using the Jibrel DAO.
So any tethered token is simple a guarantee to redeem for the underlying assets worth, not the asset itself.
For example: 1 jUSD token can be redeemed for 1 dollar worth of JNT.
2. Audits:
New Alchemy: Security audit of contracts
PwC: Financial audit of accounts
3. The guarantor in this case is the Jibrel DAO. Our job off-chain is to always ensure the Jibrel DAO is solvent (i.e. holds enough assets to meet liabilities (tethered tokens))
Hope that helps!