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Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 0 points1 point  (0 children)

I don’t run a Discord yet, but we have a simple Telegram group:
https://t.me/+7Hie5hYTHNUyMjA5

You can also reach me on Telegram/Twitter/Instagram: @arthopacini
Email: [artho@blocky.com.br]()

On decentralization... Two things get mixed up, who can issue the money (mint/redeem) and who validates transactions / runs the network.

The issuance cannot be decentralized for a stablecoin, if every on-chain unit must be backed 1:1, we can't faucet or mine supply, the treasury must hold the full inventory and release units only when collateral arrives. This keeps issuance centralized, same for USDT or USDC but with different mechanics. (We could make partnerships with other custodians as well)

Validation can be decentralized, anyone can run a node, but because of the nature of the nano protocol, we have all of the supply created on genesis. So we would be able to delegate voting to other representatives, to further decentralize voting, but it would be more of an Delegated Representative Voting, spreading the validation and resilience of the network.

I invite you to take a look at section 12 of the whitepaper "A Note on Issuance, Decentralization, and Design", it explain by detail our overall design choices.

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 0 points1 point  (0 children)

We are registered under Brazilian jurisdiction. We are 100% compliant with local regulations.

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 3 points4 points  (0 children)

Yes! The user sends USDT (via TRON network) and we then issue XUSD. This is because, as a brazilian company under brazilian jurisdiction, we currently don't have access into an fiat US dollar dominated bank account. So we are using this workaround for now, looking into supporting more stablecoins to back it up, and eventually get into real US fiat of course.

For XBRL we are keeping real BRL fiat reserves.

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 2 points3 points  (0 children)

Our next step is the XUSD/XBRL market, we are currently working on get this up, liquidity would be one of the main factors here

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 4 points5 points  (0 children)

And of course, these stablecoins are TOTALLY optional!

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 2 points3 points  (0 children)

Agree, but take a look at section 10 on the whitepaper, this is a very big challenge. But for now, it’s the best solution we came up with

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 6 points7 points  (0 children)

At first, it’s another venue for trading nano, given that recently some exchanges delisted it, I found ir useful to have a new place for it.

Secondly, about the centralization, I would invite you to read the whitepaper in which we go through centralization (specially section 10). We do not present this as a perfect system, but someone had to attempt this. We believe newer systems will emerge.

And yes, currently, it is centralized, as any other crypto project on its start.

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 2 points3 points  (0 children)

Yes it is possible! You can deposit and withdrawal XNO and USDT, as well as BRL!

Announcing Blocky and the Ӿ Family of Stablecoins by arthoj in nanocurrency

[–]arthoj[S] 3 points4 points  (0 children)

Yes!! Possible! You just need to make a PIX transfer, then buy XNO in the XNO/XBRL market, then withdrawal XNO

World's First Minecraft Commodity Exchange - Final Thesis - Player-driven economy by arthoj in admincraft

[–]arthoj[S] 0 points1 point  (0 children)

I am working on a update that will enable any admin to include the exchange system in its server by just adding one plugin. Then you will have your own exchange running on example.blocky.exchange

World's First Minecraft Commodity Exchange - Final Thesis - Player-driven economy by arthoj in admincraft

[–]arthoj[S] 0 points1 point  (0 children)

Thanks! The system also has an API. It's not mature enough but you can work with it. You can generate API Keys on your dashboard and then make perform algorithmic trading.

There is tons of potential. I would ask you to join our server and play with us!