USD Tez is set to launch Q1 2020, for purchase directly by institutional purchasers, as well as for a limited number of accredited investors. For more information, please visit the website for USD Tez. USD Tez will be the first stable-coin to launch from the StableTez suite of coins and it will exemplify the model for subsequent coins. USD Tez's Reserve will also work in concert with Tezos.bond on the release of its first bond offering: the TZ-bill
USD Tez is 4:1 collatralized by 2 Silos of FIAT and 2 silos of Tez (XTZ)
The USD Tez DAO members ("Trustees") hold tokens for voting rights and for the receipt of surplus dividends
Official USD Tez websiteUSDtz.com
Most people think of "stable-coins" as synonymous with the "currency" class of stable-coins alone — that is, a cryptocurrency price-pegged to that of a government-issued FIAT currency, despite the fact that FIAT-currency-pegged stable-coins are actually only one type/family of stable-coin. A stable-coin can be pegged to anything, really.
However, and of course, the currency class of stable-coins—namely, USD-pegged stable-coins—have been the most critical to trading and to the growth of decentralized finance ('DeFi').
Our main project is USD Tez (USDtz) to provide the best source of general liquidity for Tezos-token swaps. The US Dollar has been the global leader as a FIAT-based liquidity standard for all trading, and that that standard has ostencibly carried over to cryptocurrency trading as well.
Although the other currencies on our stable-coin roadmap such as EURO Tez (EURtz) and British Pound Tez (GBPtz), may be useful for liquidity purposes as well, we imagine that the primary utility of those other currencies will be for FOREX currency trading. 85% of daily <5 trillion dollars traded on FOREX, come from just 7 pairings referred to in the FOREX industry as "the majors" — comprised of the following seven currencies.
"Wraps" are a word for Tezos-wrapped cryptocurrencies. What are they used for? Many traders in the crypto-sphere view liquidity in terms of available liquid BTC, instead of US Dollars. The 'Wraps' class of stable-coins are tokens that are pegged to the respective values of other cryptographic assets (such as Bitcoin, Ethereum, and Litecoin) instead of to global FIAT currencies.
The particular cryptographic assets we will be wrapping have been chosen based on current trading volume at-large, technological merit and market consensus. Given that outside of USD-pegged assets, Bitcoin has the greatest daily trade volume of any cryptographic asset, the first wrap we will issue will be BTCtz.
Commodity class assets have many sub-classes, generally traded on mercantile exchanges such as CME in Chicago. Examples of sub-classes include precious metals (such as gold and silver) and agriculture (such as coffee beans and soy beans). The first commodity token we will issue will be: Gold Tez (GLDtz), since gold is not only a popular tradable commodity, but a popular liquidity mechanism as well— a store of value more in-line with currencies. Thus, Gold Tez will complement our initial offerings for other stable-coin classes.
Amongst agricultural commodities, Coffee beans and Soy beans are top traded assets on the Chicago Mercantile Exchange (CME), and on Mercantiile exchanges around the world. Next to water, coffee is the most consumed beverage in the world. Next to crude oil, soy beans are the top export of the United States annually.
Backers of StableTez's network of stable-pegged tokens will be rewarded with StableTez Trustee Tokens (STZ). The Trustees (STZ holders) govern the StableTez network, and benefit financially from its growth. Trustees vote on the distribution of surpluses generated from the respective stable-coin reserves. Distribution resolutions are act as ecosystem budgets. They include 2 main line items: ecosystem grants, and dividends paid to the Trustees themsleves. Surpluses come in the end form of XTZ — since XTZ is the capstone collateral form for every StableTez reserve. When a dividend is issued, the pertaining amount XTZ will be deposited in the STZ associated holder's Tezos wallet. Over time STZ token holders will have other benefits as well.
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