About Q DAO
Q DAO is the internal token of the Q DAO ecosystem that includes a wide range of decentralized stablecoins using algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, the Q DAO ecosystem ensures reliable protection against malicious acts and cyber-attacks. The first run in the line of fiat-pegs, stablecoins are brought by Platinum Q DAO Engineering to edge together innovative solutions in collateralization with the help of stabilizing mechanisms and oracles for high-endurance stablecoins. The company has already listed two stablecoins: USDQ pegged to US dollar and KRWQ pegged to Korean Won. The team is going to launch even more fully backed stablecoins: JPYQ, SGDQ, HKDQ, CNYQ, and RUBQ under the Q DAO brand. Fully anonymous, the Q DAO ecosystem stablecoins limit out of this legacy world.
About Platinum Q DAO Engineering
Platinum Q DAO Engineering is an international full-cycle company that provides IEO/STO listing, advisory, marketing, legal, and tech services. The company helped to raise more than $200 million for a great number of projects. Platinum Q DAO Engineering employs over 100 specialists who have extensive experience in marketing and PR, management, consulting, programming, cyber-security, education, legal advisory, and many more. The company’s mission is to make people’s lives better and facilitate economic growth by developing cutting-edge products that provide trustworthy, safe, and seamless access to any virtual assets.
For more information about Platinum Q DAO Engineering, visit their official website.
Platinum Q DAO Engineering is thrilled to announce the Initial Exchange Offering (IEO) of Q DAO, the governance token of the Q DAO ecosystem, on BTCNEXT exchange! Platinum Q DAO Engineering is a global hi-tech leader rendering IEO and STO listings, advisory, legal, and marketing services to blockchain companies.
BTCNEXT is a fast-growing spot and margin trading platform designed for both fresh and professional traders. The exchange provides the following services: spot trading, margin trading, IEO launchpad, OTC trading, and many others. BTCNEXT is focused on 24/7 responsive customer service and seeks to build trust relations with all users.
The first round of Q DAO IEO is planned to take place on BTCNEXT on June 1, 2019. The anticipated IEO will involve the distribution of 51% of Q DAO tokens (509,999.49 Q DAO tokens), representing the governance and utility tokens of the ecosystem of stablecoins pegged to various national currencies and backed by Bitcoin (as well as another top 10 digital assets in the near future).
The distribution will be carried out in 10 rounds. Each round starts on the 1st day of every month in the course of 10 months (from June 1, 2019, up to March 1, 2020).
The company will distribute:
30% tokens via IEO (all tokens will be unlocked)
70% tokens via OTC desk (all tokens will be locked for certain periods)
Q DAO is an international governance and utility token called upon to maintain the stability of a whole family of stablecoins: USDQ, KRWQ, JPYQ, SGDQ, HKDQ, CNYQ, and RUBQ. The cryptocurrency market is prone to high volatility. The Q DAO ecosystem stablecoins are able to solve this problem. They will use Bitcoin and later other top 10 cryptocurrencies as collaterals to back their prices and maintain their pegs in relation to fiat currencies. For example, the USDQ price will always try its best to stay at USD 1 in spite of any market fluctuations. Other stablecoins will follow the same scenario.
FEATURE OF USDQ ::---
Trade it as a regular stable coin on the secondary market.
Trading in a low-volatility cryptocurrency such as USDQ may help traders to work more efficiently and stay safe no matter what happens on the secondary market.Collateralize your crypto and get a simple stable trading asset. After the trading, just give it back and return your crypto. Bitcoin, Ethereum, and other popular cryptocurrencies can't guarantee its minimum value. So, protect it in our ecosystem until you will be sure in their stability. Holders of USDQ will have a trusted coin which will safeguard from market volatility until ready to begin trading again.
3)Join the Q Dao Community of Miners & Decision Makers!
Join our mining community and begin mining Q DAO tokens immediately. Now is your chance to become a miner in a growing community. Make your voice heard by becoming part of our decision makers by mining a revolutionary new cryptocurrency of the future.
USDQ and Q DAO
Below we present the gist of how USDQ operates, how the coins are created within the ecosystem, and why many proponents call the crypto-collateralized system the optimal path for cryptocurrency.
The ecosystem functions in order to mint two coins – the internal coin Q DAO, used to manage the ecosystem, and the USD-pegged USDQ. The system is based on collateralization of Bitcoin and other cryptocurrencies, enabling any user to input cryptocurrency and mint USDQ coins, with its value continuously oscillates around $1 with insignificant deviations from time to time.
Just as other crypto-based stablecoins have gained more and more traction, USDQ is expected to grow and become an important part of the crypto markets. With more and more users, the ecosystem will become a “reserve vault”, used to safely store cryptocurrency and produce the stablecoin.
The technical development is being driven by the Platinum Engineering Team, which brings together top-notch development, marketing and strategic talent in the crypto markets. The project has been slowly gathering a community of stakeholders around it.
USDQ doesn’t need any links with banks or auditors. The process to generate USDQ is based on the smart contract which creates the so-called Collateralized Debt Contract (CDC) and locks the collateral, i.e. crypto assets. When a user wants to generate USDQ, they need to input crypto assets into a CDC, and, in return, they will get USDQ.
The ecosystem uses the over-collateralization method which is required due to high volatility seen in cryptocurrency markets. As compared to stablecoins like USDT, where the ratio is 1 USD = 1 USDT, USDQ requires a higher ratio of crypto assets to be placed as collateral, with the exact ratio amount varying. In addition to interacting with a next-generation smart contract, traders can also purchase USDQ on secondary markets.
Criticism of USDQ
Many of the proponents of USDQ are drawn by the fact that no fiat is used, which eliminates any risks that might arise from dealing with legacy financial institutions. There are some concerns that the USDQ ecosystem might be vulnerable to the same risks, which resulted in the failure of the infamous DAO due to the $50-million hacking attack. Others point to the fact that should users want to exchange the stablecoin back into crypto assets, they won’t only need to return the principal amount, but also pay the fees, needed to sustain the system’s operations.
Another major concern is how the USDQ system will react to a so-called “black swan” event, an unexpected plunge in the prices of crypto assets. Questions arise about the fact that the USDQ system will dilute the amount of coins in order to prevent any negative impact. Some crypto enthusiasts worry that the attention from various governmental agencies, such as the SEC and others, might lead to the need to report to the regulating agencies the highly technical inner workings of the system.
Future plans to introduce other stablecoins
Even though various concerns arise, USDQ continues to offer a viable option to collateralize cryptocurrencies and access the stable crypto-backed coin, so that traders can effectively hedge against undesired prices moves.
It is expected that the ecosystem will subsequently start accepting various other cryptocurrencies as collateral, enabling multi-asset collateralization. In addition, the system will offer stablecoins pegged to various national fiat currencies.
USEFUL LINKS :-
OFFICIAL WEBSITE : https://usdq.platinum.fund
TELEGRAM : https://t.me/Platinumq
KAKAO TALK : https://open.kakao.com/o/gfFhY2mb
BITFOREX EXCHANGE : https://www.bitforex.com/