Singapore – 05-09-2019 — PLATINUM Q DAO ENGINEERING, the team that is developing the technology behind the USDQ stablecoin ecosystem has announced its smart contract audit.
USDQ is a next-gen stablecoin with its value pegged against the US Dollar. It addresses the pain points of existing stablecoins by being completely decentralized and being fully backed by Bitcoin. Soon USDQ will be backed by more top 10 cryptocurrencies. This feature distinguishes USDQ from other stablecoins backed by fiat assets, such as Tether, Gemini, and others.
The audit of the USDQ smart contract was performed by leading experts ProAudit. between 17th April and 18th April 2019 to ensure that the smart contract functions as intended and to identify potential security threats and issues in the code. No severe or medium threat issues were found by ProAudit. They, however, had some feedback that the team promptly addressed.
“The PLATINUM Q DAO ENGINEERING team has spent resources and its substantial expertise in creating a stablecoin system that addresses the pain points of current stablecoins. The audit by one of the leading smart contract auditing firms is testimony to our commitment to create a seamless ecosystem that controls the stablecoin and offer high value to traders,” the team stated.
To find out more you can read the audit on the website.
How does USDQ work?
USDQ’s value is pegged against the US Dollar. However, unlike current stablecoins that are backed by “Dollar reserves” in third party bank accounts, USDQ is backed by Bitcoin. These crypto assets are “collateralized” when an individual wishes to “loan out” USDQ and are kept in an asset control system. They are “de-frozen” and returned back to the individual when he or she gives back the loaned USDQ.
Another token called Q DAO is the governing token that fluctuates freely according to market forces. It plays a vital role in keeping the value of the USDQ as close to the US Dollar as possible. Holders of Q DAO tokens also have voting rights and create consensus on issues regarding the stability of the system. PLATINUM Q DAO ENGINEERING has created a proprietary Q Box that helps in mining Q DAO tokens. The Q Box is powered by cutting edge AI which analyzes huge amounts of data to create cryptocurrency rate predictions.
USDQ tokens can be either loaned from the website after collateralizing Bitcoin or other crypto assets, or they can be bought from the secondary markets, i.e. exchanges. Currently, the team has applied for listings on a large number of exchanges including Coinsuper, BTCNEXT, Hotbit, Probit, Nexybit, BitForex, KuCoin, IDAX, BTC-Alpha, Coinbene etc. USDQ offers traders with a “fiat-like” cryptocurrency for seamless trading.
The PLATINUM Q DAO ENGINEERING team will develop other stablecoins whose values will be pegged to other global currencies like KRW (KRWQ), JPY (JPYQ), SGD (SGDQ), HKD (HKDQ) and CNY (CNYQ).
BTCNEXT – is a next-generation spot and margin trading platform. The exchange is designed for the beginner and delivered by experts. In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures. In the near future, users will be able to trade over a hundred types of tokens. And, on top of that, traders can connect to an API service, automating lots of their routine operations.
About PLATINUM Q DAO ENGINEERING
The USDQ stablecoin ecosystem has been designed and developed by the Platinum Q DAO Engineering team. It is the technology development arm of Platinum Q DAO, the global leader in tech, advisory and marketing services for blockchain projects. Platinum is an international full-cycle agency that has been providing marketing, legal, tech and advisory services to IEOs, STOs, and ICOs. Employing over 100 specialists, it has helped raise in excess of $200 million for many projects. It is also the largest listing service provider for STO, IEO and ICO projects.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM Q DAO ENGINEERING team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under Q DAO brand. Fully anonymous, USDQ breaks limits out of this legacy world.
To know more about the USDQ stablecoin, please visit the website –https://usdq.platinum.fund/.
For the original news story, please visit https://publishedpr.com/news/platinum-q-dao-engineering-announces-usdq-smart-contract-audit-within-q-dao-ecosystem.html.