Full description of SDUSD
The SDUSD
Token (?) is issued by Alchemint’s smart contract and is designed to hold $1 USD worth of value by locking NEO as collateral. The SDUSD token is the first native stablecoin to the NEO blockchain.
On December 17th, 2018, Alchemint launched its SDUSD stable
Coin (?) issuance platform to the NEO MainNet. The stablecoin distribution platform aims to mortgage digital assets through smart contracts and manage collateral risk. Eventually, Alchemint aims to anchor a stablecoin to any assets, which may include
Fiat (?) currency, cryptocurrency, and other commodities.
Alchemint seeks to differentiate itself from other stable coin projects in the frequency of its audit reports. Users will be able to audit the stable coins at any time using the
Blockchain (?) explorer.
SDUSD is the first digital asset to be launched through Alchemint’s SAR-C smart contract and is pegged to the US dollar. SDUSD was selected as the US dollar is the largest liquid currency, but Alchemint aims to gradually anchor other assets in the SAR-C model.
Stable Foundation isn’t the only entity that can liquidate SARs to maintain a high collateral rate. Users can also liquidate SARs that have a collateral rate of 149% or lower. To liquidate, the individual uses SDUSD to purchase the SAR at a 10% discount (compared to market value). This way, users help individual SARs maintain their collateral rate of 150% or more.
- Exchange symbol (?): SDUSD
- Cryptocurrency type (?): Token (?)
SDUSD for developers
SDUSD social sites
Source: NOMICS
