On May 1, 2019, PIZZA - USDE stablecoin system went live. Starteos, with great expectations for PIZZA - USDE, became the first wallet provider to support PIZZA - USDE.
What kind of attractions does the PIZZA - USDE project have? Let's take a look!
1 Brief Introduction to PIZZA - USDE
A. PIZZA – USDE
PIZZA - USDE is an EOS based two-token stablecoin system. The system issues stablecoin (USDE) by collateralizing crypto assets. With over collateralizing and the deployment of different smart contracts, the system neutralizes the potential crisis of market fluctuations and allows the stablecoin 1:1 pegged to USD.
PIZZA - USDE is a transparent and free collateralizing stablecoin ecosystem which supports decentralized issuing and high-performance real-time settlement and could realize the scenario of various financial derivatives.
B. USDE
The USDE is issued by collateralizing crypto assets with proper collateralizing ratio, which requires users to collateralize cryptocurrency assets to the smart contract to establish a CDP (Collateralized Debt Positions).
Users can also purchase USDE through a point-to-point transaction with OTC dealers or via a cryptocurrency exchange.
Issuers enjoy the collateralizing rewards provided by the platform, and can also sell the USDE in the OTC market, or simply use USDE as a circulation medium.
C. PIZZA
PIZZA token will provide collateralizing rewards to collateralizing persons in the form of “PIZZA” to strengthen the stability of CDP, actively cooperate with exchanges, encourage the expansion of OTC network, and establish a global channel of OTC.
PIZZA token holders have the right to vote on various system parameters, such as commissions, issuer awards, collateralizing ratio, triggers for liquidation, membership selection of the System Board, etc.
2 Operation Mode of PIZZA – USDE
There are 6 system participants in the operation of PIZZA – USDE, including USDE issuer, USDE holder, PIZZA holder, USDE OTC dealer, eco-partner, USDE resource pool. These 6 participants interact with each other and form a complete PIZZA – USDE system.
Operation Mechanism
Rewards Mechanism
3 Advantages of PIZZA – USDE
A. Decentralized stablecoin system
- Users perform collateralizing and issuing on blockchain
- Collateral guarantee
- Community governance
B. Efficient distributed bank
- Based on EOS high-performance infrastructure
- High efficiency
- Contract updatable
PIZZA-USDE uses EOS public chain and its efficient network to expand application scenarios, sets clear and effective division of work and establishes a reasonable risk control system, which gives the technical problems to technicians while bringing convenience to users.
4 Experience PIZZA – USDE in “Starteos” Wallet App
Open “Starteos” Wallet App – enter “Discover” – click the banner on the top – enter “PIZZA – USDE” page and experience the decentralized stablecoin system with great liquidity and efficiency.
At present, the three features of stablecoin - trust, stability and practicality are difficult to be fully realized:
The fiat money collateralized stablecoin is managed by centralization which could ensure stability and ease of use, but fails to guarantee transparency and sacrifices trust;
The digital asset collateralized stablecoin has greatly eased the centralization crisis, but its ease of use is difficult to guarantee due to over collateralizing and poor performance of the blockchain network at current stage;
The stable currency system constructed with the algorithmic central bank has been widely questioned both in theory and in practice. There is still no strong evidence to prove its feasibility.
How to build a stablecoin system supporting decentralized issuing and high-performance settlement?
Starteos has been searching for the answer, and cooperated with some EOS Block Producers, Wallet Teams, Exchanges, Medias and Communities to establish the Stablecoin Research Institute on January 23, 2019.
As a non-profit academic research institution, the Stablecoin Research Institute focuses on technical research and analysis related to stablecoin projects, and regularly publishes research reports.
At present, several research reports have been published including "Talk about the Holy Grail again – The Difficulties and Future of Stablecoin", "Another Possibility of EOS-based Stablecoin", and "EOS Stablecoin: Undercurrent Emerges", which provide firm technical and theoretical support for the development and optimization of stablecoin.
For details of the reports, please visit:
Talk about the Holy Grail again – The Difficulties and Future of Stablecoin: https://mp.weixin.qq.com/s/IBzY3rfOxfJ3thrQJ1eYFA
Another Possibility of EOS-based Stablecoin:
https://mp.weixin.qq.com/s/Uo3oEjaFHAfOGmFoLWWYIA
EOS Stablecoin: Undercurrent Emerges:
https://mp.weixin.qq.com/s/qU7BunimIwW3u9ncikBpTA
In March 2019, during the exploration process, Starteos discovered PIZZA - USDE, the first stablecoin project supporting decentralized issuing and high-performance settlement, and decided to provide substantial supports.
