Freedom Dollar (fUSD) — the private, decentralized stablecoin native to Zano
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Here are the FAQ around how the censorship resistant bridge operates: https://www.freedomdollar.com/en/faq#bridge
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@ZMiner The coverage ratio depends on the amount of fUSD minted and the amount of Zano held in reserve as well as the price of Zano in relationship to the amount of fUSD minted.
The formula used in determining the coverage ratio is as follows:
(Zano reserves x spot price) / (Issued fUSD - fUSD in the Public Audit Wallet)Hope that helps clarify the fluctuation of the coverage ratio.
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@ZMiner Luckily, thanks to the staked Zano earning about 2.5% per year, the coverage ratio will grow by
1.82x x 2.5% = 4.55%
or
1.37x x 2.5% = 3.425%Compounding over time, this will add up to very significant reserves for fUSD.
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If I recall correctly, fUSD was launched with $100K in circulation, and $1M in Zano collateral in the public audit wallet giving it a 10X coverage ratio, but that dropped down to about 5x when the next $100K was minited, with only $1.1M in the reserve wallet at that point. It is hard to know what the ratio will be once $100M is minted but it seem that 5X or 10X are very possible because the market cap of Zano would need to grow a lot, including the value of the reserve wallet.
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I'm just bumping this thread and wondering who here has been enjoying the permissionless USDT <> FUSD bridge? I'm using it daily to pay for all sorts of things.
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I use it for both! The new USDT / USDC permissionless bridge at FreedomDollar.com make it so easy now!
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how does fUSD handle periods of extreme ZANO price volatility, especially a sharp drop in ZANO's price? with the stablecoin being over-collateralized by ZANO, what mechanisms protect the peg and ensure the system remains sufficiently collateralized during severe market conditions?
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how does fUSD handle periods of extreme ZANO price volatility, especially a sharp drop in ZANO's price? with the stablecoin being over-collateralized by ZANO, what mechanisms protect the peg and ensure the system remains sufficiently collateralized during severe market conditions?
how does fUSD handle periods of extreme ZANO price volatility, especially a sharp drop in ZANO's price? with the stablecoin being over-collateralized by ZANO, what mechanisms protect the peg and ensure the system remains sufficiently collateralized during severe market conditions?
The Zano reserves exponentially grows through fUSD swaps, market-maker profits, and staking rewards. Which will essentially, generate a compounding effect that offset price drops with more Zano.
This keeps the reserve healthy even in intense volatility.
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i got told by a guy that if Zano got to the 4 dollar area that freedom dollar would de peg...... and it was fine i reminded him that we were at the 4 dollar area only got crickets.
i think he asked the AI and one thing he did not take into account was the market makers
so its had a good test from 10 to 4 -
What do you use as oracle to get Zano's spot price?
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The FreedomDollar.com bridge now supports about 50 different coins on ETH!
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FreedomDollar just added a groundbreaking bridge to their website between $USDT, $USDC, and $fUSD.
Fees from USDT to fUSD are just 0.265%, and back from fUSD to USDT are just 0.155%.
Ethereum, Tron, and Zano networks available.
Has anyone tried it out yet?
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