Post
Topic
Board Announcements (Altcoins)
Re: [DVC]DevCoin - Official Thread - Moderated
by
develCuy
on 02/06/2020, 19:35:31 UTC
You can already right now start helping build the XLM buy-side against DeVCoin and a bunch of our other assets on the STELLAR platform, see http://makemoney.knotwork.com/stellar/

I think that we can do both approaches. We could support two tokens as a project: DeVCoin and DeVDollar for two different purposes:

- DeVCoin token: speculative, free & wild market!
- DeVDollar token: stable coin for paying beneficiaries

In regards to "stable coin", we could use the trusted USDT token on Stellar: https://stellar.expert/explorer/public/asset/USDT-GCQTGZQQ5G4PTM2GL7CDIFKUBIPEC52BROAQIAPW53XBRJVN6ZJVTG6V

This what could happen on every Devcoin round:

- Buy X amount of USDT with external reserves(STEEM, HIVE, SBD, HBD, etc)
- Use half of available USDT to buy DevCoin (build up the buy side)
- Put the other half into the treasury and release an equivalent amount of DeVDollars (1:1 ratio)

Eventually, if we need to issue more DeVCoin tokens, the Devcoin Foundation should burn as much as required Devcoins (the actual coins) from its own reserve (OpenSourceFund + friends).

- develCuy