BTC collateralized and calling it a stablecoin? The logical inference would be BTC = Stablecoin.
Does not compute
BTC is a very volatile asset. How is an asset collateralized on it anyway remotely stable, unless you're using another asset to hedge against the volatility or you've got a perfectly, functional crystal ball
You're absolutely right! I super agree with you on that point.
So, this is what 'em say on their web:
-I'm just quoting the explanation on their web related to your above post-To solve Bitcoins volatility problem, we will provide a Bitcoin-collateralized stablecoin using a three-party system:
We strip Bitcoins volatility into two separate tokens:
The Dollar on Chain (DOC), is pegged to us Dollar for risk-averse individuals
The BitPRO, a token for risk-propense Bitcoin holders seeking a passive income in BTC
The DOC tokens will be stable and pegged to the US dollar, such that each DOC token will have a value of USD 1. As these tokens will be entirely stable, they are a volatility-free asset that will perform the three functions of money mentioned above: a medium of exchange, unit of account, and a store of value.
................................................and so on
Source:
https://moneyonchain.com/solution/