Discover and read the best of Twitter Threads about #ZUSD
Most recents (3)
1-10
Today I’ll show you how we can pay for Rent and Living Expenses with our #Bitcoin without selling them.
Using #ZERO from @SovrynBTC , a #DEFI platform running on @RSKsmart , a sidechain that uses #BTC as its native currency as it is merged mined by the BTC miners
Today I’ll show you how we can pay for Rent and Living Expenses with our #Bitcoin without selling them.
Using #ZERO from @SovrynBTC , a #DEFI platform running on @RSKsmart , a sidechain that uses #BTC as its native currency as it is merged mined by the BTC miners
2-10
All we need to get started is some #Bitcoin and an @RSKsmart enabled wallet, I personally use @Liquality_io , but @MetaMask or @defiantApp work as well.
We exchange our #BTC for #RBTC using the #FastBTC bridge from @SovrynBTC at live.sovryn.app/fast-btc/depos…
All we need to get started is some #Bitcoin and an @RSKsmart enabled wallet, I personally use @Liquality_io , but @MetaMask or @defiantApp work as well.
We exchange our #BTC for #RBTC using the #FastBTC bridge from @SovrynBTC at live.sovryn.app/fast-btc/depos…
3-10
The #RBTC is always backed 1 to 1 with #BTC and can be traded back and forth
This maintains their value, and once in the @RSKsmart blockchain we can take advantage of #SmartContracts and #DEFI platforms like @SovrynBTC , @moneyonchainok and @tropykus secured by #BTC
The #RBTC is always backed 1 to 1 with #BTC and can be traded back and forth
This maintains their value, and once in the @RSKsmart blockchain we can take advantage of #SmartContracts and #DEFI platforms like @SovrynBTC , @moneyonchainok and @tropykus secured by #BTC
1/10
Understanding the "ZERO Stability Pool".
#ZERO is the new product released by @SovrynBTC using @RSKsmart
A #DEFI platform using #SmartContracts on #Bitcoin to allow users to borrow against their assets with NO interest
Understanding the "ZERO Stability Pool".
#ZERO is the new product released by @SovrynBTC using @RSKsmart
A #DEFI platform using #SmartContracts on #Bitcoin to allow users to borrow against their assets with NO interest
2/10
A key element to understand, and what makes this #DEFI protocol different from centralized lending platforms like #Celsius is the Stability pool.
In short it is set up to punish risk takers and preserve the funds prudent actors
A key element to understand, and what makes this #DEFI protocol different from centralized lending platforms like #Celsius is the Stability pool.
In short it is set up to punish risk takers and preserve the funds prudent actors
3/10
This is how it works:
We lock our #Bitcoin in the #SmartContract, we get a #ZUSD #Stablecoin loan.
We can then add the coins to the stability pool.
This is how it works:
We lock our #Bitcoin in the #SmartContract, we get a #ZUSD #Stablecoin loan.
We can then add the coins to the stability pool.
#NYDFS issues USD backed #stablecoin guidance; must be fully backed by an asset reserve; issuer must adopt a clear redemption policy, approved by DFS in writing (!!!) redemption at par in fiat; reserve must be held in custody with /1
dfs.ny.gov/reports_and_pu…
dfs.ny.gov/reports_and_pu…
US state/federally chartered depository institutions and/or asset custodians. Reserve must be held in govt treasuries "subject to DFS- approved reqs re: overcollaterialiation." Reserve must be subject to independent audit 1x month by independent CPA under AICPA attestation /2
standards. DFS may also impose obligations regarding cybersecurity and IT standards and evaluate issuer BSA/AML & Sanctions compliance, safety and soundness of the issuing entity; and the stability/integrity of the payment system, as applicable on Issuers. /3
