Stablecoins are cryptocurrencies intended to minimize the volatility of the price of the stablecoin, comparative to some "stable" asset or basket of assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.
This time we want to introduce you to Free Libra Coin. It was conceived as a decentralized stable coin without the single point of failure - human greed.
Welcome to the future - Welcome to Free Libra
Minx AI
MinX AI is driven by the user wallets, where every wallet can act as gateway to execute online interaction with Exchange API's. MinX AI will held own but transparent wallets on several exchanges to provide the financial backend.
Instead of being bound or "stabilized" by FIAT currencies, FREE LIBRA will be bound to existing stable coins.
Users can send supported coins to MinX AI and they will be traded to Stable Coins which again will be kept in a virtual Basket by MinX AI. This basket builds and revenues build the value of the FREE LIBRA COIN.
There is no Entity in control of MinX AI. She works alone, she is always awake and nobody is in control of her.
How it works from User point of view:
-The Free-Libra Wallet shows you existing wallet addresses owned by MinX AI for different coins. Also it shows you the current value of each Asset in Free Libra Coins (FRL).
-You can send coins to MinX AI and you will get the value back shown in FRL to your wallet.
-When you send FRL back to MinX AI it will send you any currency and will burn the FRL coins accordingly.
-The value of FRL is based on a mix of USDT, USDC, GEMINI DOLAR, BitEUR, BitCNY.
Trading Gain Target Coins are TELOS, XBTX an BTC.
MinX AI can also work in Private Mode which means all gains based on your input belong to you and MinX AI can also work with KYC enforcing Exchanges. Anyway MinX AI will take fees to support the network security and pay connected peers.
Proof Of Gain
MinX AI is a trading Bot, a lending Bot and a hashrate reseller bot.
The revenue MinX AI does is Proofed by Network Peers. These Peers are represented by Wallet owners. It is not required to have static IP address but it is suggested for the network stability.
Proof of Gain is the mechanism which validates the gains MinX AI earned and shares with Peers.
Exchanges
Supported Exchanges right now for revenue targeted trading are Bitshare based exchanges, Crex24 and SouthXchange.
MinX AI is capable to create her own user accounts and keep private keys encrypted without human interaction. It exists as long as one Client is connected to the internet. In worst case she falls a sleep. Only if all data on any client is deleted, MinX AI would stop to exists.
Why AI and no human Entity?
We believe that a stable coin must be controlled by an unbiased entity. Humans failed on being emphatic or even fair to others as soon they find a way to play out a form superiority.
MinX AI is programmed to judge and handle everyone and everything equal. There is no situation where MinX AI will try to manipulate other digital currencies in any form. It will just trade at best price over any supported Exchange providing API access.
FREE LIBRA COIN: https://libra-ai.org/
Source: https://cryptoacid.com/free-libra-coin-new-generation-of-decentralized-stablecoins-coming-this-year/