SINGAPORE (SINGAPORE), January 10, 2019 / PRNewswire / – The Alchemint Foundation introduced the SDUSD in an effort to demonstrate the importance of stable coins in a volatile market by providing traders with a stable currency as insurance against market fluctuations linked to SDUSD against the dollar at the rate of “1 to 1 “. The SDUSD coin debuted on the Alchemint platform on December 22, 2018, and the basic trading pair was launched on Switcheo, the first decentralized exchange platform based on NEO .
The year 2018 witnessed the flourishing of projects of stable-coins, secured by US dollars and initiated by such reputable companies as Paxo (PAX), Gemini (GUSD) and Coinbase / Circle (USDC). All these coins provide traders with a means of preserving capital in volatile market conditions. Unlike stable coins secured by IOU, SDUSD is issued via SAR (Smart Asset Reserve), where NEO is “oversupplied” at a minimum rate of 150% for each SDUSD, which guarantees the stability of coins against the US dollar (1 SDUSD = $ 1 . USA), thanks to the provision of NEO through smart contracts based on this cryptocurrency. Alchemint encourages its users to maintain price stability by offering them the opportunity to purchase NEO at below-market prices by participating in the elimination of unsafe positions secured by collateral.
“We will make every effort to promote SDUSD and make our currency a popular stable-coin among decentralized applications (dApps), trading platforms, and private users,” said Alchemint CEO Zhang Ting.
This desire is supported by all members of the international NEO development team, expressing a firm belief that stable-koiny like SDUSD provide an important infrastructure for the NEO ecosystem. The task of SDUSD is to become a kind of bridge connecting the economy of the world.
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