StableTez is a project by Wealthchain, Inc., dedicated to providing Tezos-on-chain stable assets as financial instruments for Tezos-based trading. These financial instruments are pegged to the priced value of off-chain assets such as global currencies (e.g. USD, Euro), metals (e.g. gold, silver), agricultural commodities (e.g. coffee, soy), as well as coins of other blockchains (e.g. Bitcoin, Ethereum, Litecoin).
The Tezos blockchain is poised to become the technological infrastructure underlying the future of financial instruments, globally. Tez (XTZ) 24-hr trading volume has risen steadily — from under 10-million climbing to over 100-million over the course of 2019. Furthermore, over 3 billion dollars in assets have already been pledged to be securitized on Tezos security token standards. Naturally, this growth trend has been leading to a ramp-up in Tezos-based token trading with its own set of needs and market-driven demands. Namely, the demand for increased liquidity has been a central desire of Tezos token traders.
Over 40% of daily Tezos-token trade volume has been made in exchange for stablecoins — off-chain stablecoins — for which traders must incur higher transaction rates than they would with an on-chain solution. This is what we aim to solve starting with the first Tezos-based stablecoin: USD Tez (Symbol: USDtz).
Moreover, after the release and growth of several different stable-coins — representing several different global currencies, respectively — StableTez will enable the on-chain marketplace to endow the multi-trillion dollar FOREX global currency trading market with the technological advantages of the Tezos protocol and of the Tezos ecosystem — in other words Foreign Currency Trading (FX aka 'FOREX') on Tezos.
TEZEX will expand to include other stable-coins besides currencies, such as wraps like BTCtz (since many traders prefer using Bitcoin to close positions instead of USD, especially in a Bitcoin-bull market) as well as commodities like Gold (GLDtz). Though most commodities (just like commodities trading in general) will more likely be used for mercantile trading purposes.
Built from the ground-up on Tezos, for Tezos, and by devout members of the Tezos community
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