We believe in a future the need of stable coin in the blockchain will be a big part of our economy.
We have our own wallet where you convert your btc/eth/usdt/pax/usdc/bnb
Considering that this is stable coin, it will be convertable to usdt/pax/usdc with a 1:1 ratio ? Did I understand correctly ?
That's correct, yes!
This is so that we can simplify the experience for our users. We want them to be able to use DiamCoin as a safe storage of value, without them having to get confused or worried about what the price of one carat of a diamond is today, even if it doesnt vary that much.
Also, determining what the price of one carat of diamond is right now is not as straightforward as for an ounce of gold, since there are many factors that come at play when determining the value of every individual diamond. At Hello Diamonds we have extensive experience in dealing with diamonds, so we can use these assets to ensure the value of our token to keep the 1:1 proportion.
The benefit of such a system is that, in the case of a financial crisis, diamonds are one of the most crisis resistant-assets.