stablecoin – Internet of Everything

Press Release: Decentralized stablecoin project TheStandard.io is pioneering a next-generation over-collateralized stablecoin infrastructure, backed by industry experts including Patri Friedman, grandson of pioneering economist and statistician, Milton Friedman.

September 7th, 2022, Berlin, Germany – The cryptocurrency market has catapulted to new heights over the past few years, prompting a significant rise in the demand for stablecoins. As a result, the market’s most popular stablecoin, Tether USD, saw its market cap grow twenty-fold to over $82 billion in the second quarter of 2022.

The demand has also led to the spectacular growth in projects experimenting with other approaches to stability. The most infamous example is Terra Luna, which took a pure algorithmic approach. However, as has been widely reported, Terra Luna went on to collapse for a number of reasons, the primary of which was the inherent flaws in a pure algorithmic model.

TheStandard.io is from the team behind one of the oldest bitcoin exchanges Vaultoro.com proposes a new global standard for decentralized stablecoins backed by tokenized physical assets as well as crypto assets. TheStandard.io uses an over-collateralized model in which users ‘lock up’ assets in individual smart contracts called ‘Smart Vaults’. The DeFi protocol then allows users to borrow against these assets by minting new stablecoins pegged to any fiat they want at zero interest. Like any loan, government inflation decreases the value of their liability over time.

As a result, TheStandard.io eliminates the need for a centralized entity to maintain a peg and leverages inflation in favor of stakers.

Patri Friedman, advisor to TheStandard.io, commented:

“I’m thrilled to be advising TheStandard as they build a system to unlock the massive potential liquidity of hard assets such as precious metals. By using these as reserves to back over-collateralized stablecoins in any fiat currency, their system combines the safety of owning gold with the liquidity of bank deposits.”

Josh Scigala, CEO and founder of TheStandard.io further commented:

“Patri Friedman is a true visionary, bringing startup cities and sea steading to life. He comes from a family whose legacy is very much aligned to the philosophy and goals of The Standard Stablecoin Protocol. Individual liberty, backing currency with rare assets, and market forces as governance.”

Patri Friedman will help The Standard DAO create the blockchain infrastructure needed for startup cities to have functional, central bank independent currencies backed by rare assets. He will also help build connections with other influential thinkers, VC’s and entrepreneurs in this exciting space.

A Roadmap to a New Standard

TheStandard.io will first launch sEURO, a stablecoin which will maintain a value of 1 EUR. This launch will happen in the following stages called Operation Deep Liquidity:

Initial Bonding Curve Offering
DEX Liquidity Bonding event
TST (TheStandard.io’s native token) staking and rewards.

The Initial Bonding Curve Offering will incentivise participants with up to a 20% discount when purchasing the first sEURO stablecoin, allowing the build up of the Protocol Controlled Value (PCV). The concept of a bonding curve is to enable the build-up of reserve assets in exchange for the minting of sEURO at a discount for early participants. Tokens that can be initially converted into sEURO are Ethereum, PAX gold, wrapped bitcoin and Matic.

The second stage focuses on building up deep liquidity for the trading pair sEURO/USDC (or another pegged stablecoin. This was inspired by Olympus DAO, allowing the protocol to own liquidity in the pools rather than renting it from yield farmers. Users deposit their sEURO and USDT into The Standard DAO’s bonding contract which will be locked in a Uniswap liquidity pool. The longer the bond maturity, the higher the yield. The aim is to ensure deep liquidity and stabilize sEURO whilst continuing to reward early participants.

Finally, the DeFi protocol will also launch with a membership/governance token called TST (The Standard Token). Users can also stake TST to earn rewards which originate from the yield earned by the DAO when placing the liquidity from the PCV into safe yield farming activities. Users will be able to vote on where and how much to allocate to a specific activity.

Find out more about this three stage process here.

About TheStandard.io

TheStandard.io is pioneering a new stablecoin infrastructure for the cryptocurrency market. Its vision is for the creation of a framework that enables stablecoins to represent every “fiat currency on Earth”, a milestone no other stablecoin has been able to achieve thus far. This ambition is evident in its brand, with ‘The Standard’ being a reference to the infamous ‘Gold Standard’ which created a currency full-backed by gold held by the State.

TheStandard.io is driven by veteran cryptocurrency enthusiasts who make up the pioneering team. They include Protocol Lead Joshua Scigala, co-founder of Vaultoro.com (one of the world’s first bitcoin exchanges), Philip Scigala, CEO and co-founder of Vaultoro, who first entered the space in 2010, Ecosystems Operations manager Ana Valdes, a master in foreign affairs, and Head of Engineering, Simon Morley, CTO of Vaultoro.com.

This team has also attracted influential players in both the TradFi and DeFi spaces, including Patri Friedman, the father of smart contract auditing Hartej Sawhney, Social Development Evangelist Dr Jane Thomason and ecosystem builder Faraj Abutalibov just to name a few.

To read more about The Standard DAO and its mission to re-shape the stablecoin space, visit their website here.

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Media Contact Details

Contact Email: juliane.verissimo@thestandard.io

THESTANDARD is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Source: thinkbitcoins

Press Release: The Corion and Syscoin non-profit foundations have announced a partnership to address blockchain market interoperability issues and accelerate stablecoin adoption. The CorionX IEO third round started on the 5th October, 2020

6th October 2020, Zug, Switzerland – The non-profit Corion Foundation is pleased to announce a new partnership with the Syscoin Foundation. The foundation partnership is the result of a shared vision to make global access to swift, safe low-cost Open Finance solutions a reality.

The foundations of Corion and Syscoin will coordinate campaigns to educate and spread awareness using AMAs, Webinars, Training Sessions, Seminars, Working Groups, and all other means. They will also work together on marketing and certain business development initiatives. CorionX is hosting the third and final round of its CORX DeFi token IEO which started on Probit exchange on Monday the 5th of October, 5:00am (GMT+2

The ETH Conundrum

Scalability and cost are two of the biggest factors that determine whether or not a new digital currency will have a chance to be adopted on a global scale. Ethereum is currently the blockchain of finance, but increasing stablecoin and DeFi transactions have exacerbated an already congested network, only equipped to process around 15 transactions per second.

Such congestion has resulted in record ETH transaction fees ($15 this September) for ERC-20 token users, and by even the most optimistic claims, the phase zero groundwork of the solution promised by the ETH 2.0 Launch will not come into effect until November, 2020. With stablecoins unable to go mainstream due to Ethereum network limitations, and big questions still hanging over token scalability, it seems that interoperability is the next logical step

The Stable Solution

The Syscoin and Corion foundations are currently working together to provision Syscoin Bridge, a decentralized cross-chain interoperability solution that works today, to support CorionX (CORX), Corion’s ERC-20 token and other Ethereum-based Stablecoins and DeFi tokens. The Layer 2 and Cross-Chain bridge solution provides scalability and microtransactions, solving the micropayments issue and scaling-up stablecoin transactions.

This Solution will provide cheaper and faster transactions enabled by Syscoin’s unique Z-DAG Protocol, and more robust security offered by Syscoin’s blockchain which is bitcoin-core-compliant and merge-mined.

Jag Sidhu, Syscoin Foundation Chairman stated:

“Our combined focus will include specific stablecoins, DeFi, and helping the unbanked and over-banked. Together we will drive wider adoption of blockchain technology.“

Syscoin and CorionX believe that with the right solutions asset-backed digital tokens on the blockchain will create more efficient and beneficial economies. Lower costs, easier compliance, greater convenience for users, and more participation. The integration between the two companies will solve problems with interoperability, and provide fast, cheap scalable transactions.

A Step Towards Mass Adoption

CorionX is designed to create the global framework for education, expansion, and promotion for the usage of stablecoins, CBDCs, crypto saving, lending, OpenFinance and DeFi.

Corion Foundation’s #MoneyInTheRightDirection Movement has already started aiding the paradigm shift towards the mass adoption of crypto, digital and programmable money.

Miklos Denkler, Corion Foundation Board Member, explains the great ambition of the partnership, stating:

“This partnership will expand crypto and stablecoin use-cases, and help millions of people and crypto communities use CorionX and Syscoin services worldwide. It presents an amazing opportunity for both partners to empower the crypto community to make scalable transactions, experience user friendly DeFi, and to make cryptocurrency savings and investment more mainstream.”

This pioneering movement includes the Corion educational organizations, crypto projects, influencers, financial providers, independent investors, and journalists who all support the mainstream adoption and education of crypto assets, stablecoins and Decentralized Finance solutions. The CorionX utility token itself even supports the everyday use of crypto, with benefits through business partnerships, white label solutions, and Token Loyalty Staking with quarterly rewards.

CorionX IEO

Following a successful second round, CorionX is preparing for its third IEO round for its CORX token on Probit Launchpad, The IEO token funds will be used towards the #MoneyInTheRightDirection Movement’s programs, Integrations, Staking, Savings, Benefits and CashBacks.

IEO Details

Token: CorionX (CORX)

Token Type: ERC-20

Round Date: 2020-10-05 05:00 (GMT+2)

Price 1 CORX = 0.015 USDT

Token Bonus: PROB: 7%, USDT, BTC, ETH: 5%

IEO total token supply: 61.5 million

Bonus Lockup: 3 months after listing

About Corion Foundation

Corion Foundation is a non-profit organization,founded in 2016. It was created with the aim of helping the development and spread of stablecoins and reliable cryptocurrencies across the world.

About Syscoin Foundation

Founded in 2018, the Syscoin Foundation is a non-profit organization that represents the Syscoin core development team, secures the code repositories, and oversees public relations for the protocol. Its goal is to expedite the global adoption of blockchain technology by demonstrating the unique decentralization features offered by Syscoin Platform.

Join the 3rd round of the CorionX IEO – https://www.probit.com/en-us/ieo/corx-round1/2 Learn more about the about the Corion Foundation – https://corion.io

Follow CorionX on Facebook – https://www.facebook.com/CorionFoundation

Find CorionX on Twitter – https://twitter.com/CorionPlatform

Join the CorionX community on Telegram – https://t.me/corionx

Read about CorionX on Medium – https://medium.com/@Corion

Learn more about the Syscoin-Ethereum Bridge – https://syscoin.org/syscoin-bridge

Find Syscoin on Twitter – https://twitter.com/syscoin

Join the Syscoin community on Telegram – https://t.me/Syscoin_Official

Media Contact Details

Contact name: Miklos Denkler

Email: info@corion.io

CorionX is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

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Category: stablecoin

Visionary Patri Friedman Joins TheStandard.io to Create the Ultimate DeFi Stablecoin Protocol

CorionX and Syscoin Join Hands to Drive Stablecoin Adoption, CorionX IEO Enters Third Round