WaykiChain’s 3-token economy model, and the world’s very first stablecoin supported by the bottom layer technology of the public chain, is about to start a new payment revolution, with its superiorities in risk resistance, manageability and development potential.
Stablecoins projects in crypto market can generally be divided in to two main categories according to their collateral: 1:1 fiat collateralized and cryptocurrency over-collateralized. Different types of stablecoin have their own focus on different market segments in application.
At present, serving as exchange currencies with function of valuation is still the major application scenario for stablecoins. However, the stablecoin has very limited circulation in other application scenarios, subject to two reasons:
- For fiat collateralized stablecoins such as USDT, the collateral does not actually exist on blockchain. It is difficult to achieve transparent supervision, and the degree of trust is limited.
- The current mainstream digital asset-backed stablecoin (such as DAI) is issued on the public chain of the POW consensus mechanism, which makes the stablecoin circulation efficiency limited and cannot be circulated in more high-frequency scenes.
There is a lack of a mechanism in the market that is transparent, decentralized asset-backed, stable and efficient in circulation, to support a richer application scenario. The wider masses outside the blockchain investment users are more likely to accept stablecoins of relatively constant value to pay for products and services on the blockchain because they have no willingness to invest. Therefore, WaykiChain stablecoin WUSD can well fill the gap in this type of stablecoin in the market and stand out among many stable coins.
As the first stablecoin developing based on the bottom layer of public chain, WUSD has better security, manageability and expandability comparing to the contract-based development type.
WUSD has a strong risk resilience, including unique Risk Reserve mechanism. When the collateral assets fluctuate too much, even the black swan incident will bring the risk of a full suspension to the stablecoin system, the system will set a “debt ceiling” that will only allow a portion of the total amount of collateral assets to enter the stablecoin system, thus preventing a large amount of liquidation from causing further significant declines in collateral assets.
And also, WUSD has application advantages in landing with WaykiChain DApps as initial circulation support.
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WUSD is More Perfect in Operation Mechanism, Security and Efficiency
As a cryptocurrency collateralized stablecoin, WUSD hopes to better face the challenges based on WaykiChain public chain ecology, and contribute to the development of the public chain industry, as well as blockchain industry.
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