What is an Parity Dollar or (XDL)?
- Mainnet : 0x496266ff0876262b0177Cef026A117AbC24B2532
- Main Features: Run on the ethereum blockchain
The Parity Blockchain Dollar (XDL) is an Ethereum based stablecoin backed by a basket of Stablecoins that are pegged to the USD. XDL was developed and bootstrapped by iBlockchain Bank and Trust Technologies Co.
Parity Blockchain Dollar is the latest and greatest stablecoin on the market today, with industry insiders pegging it to be one of the potential significant performers over the next several years and well into the future. Why?
Because Parity Blockchain Dollar is a stablecoin unlike any other on the market today, this unique cryptocurrency is the only coin with a 100% decentralized chain of custody of other stablecoins and a 100% autonomous custodial transparency. For merchants across the globe and throughout the developing world, Parity Blockchain Dollar offers excellent protection and insulation from local currency malfunctions, single stablecoin price deviations, as well as greater buying power compared to other stablecoins or cryptocurrencies. Specifically beneficial to businesses who rely on international supply chains, Parity Blockchain Dollar’s decentralized chain of custody creates a seamless conversion and transfer of funds between the parties — meaning faster, more efficient, more profitable transactions.
We designed the Parity Blockchain Dollar as the stablecoin to set the community on fire and revolutionize how this type of cryptocurrency performs one-to-one parity against the US dollar-based Stablecoins. The Parity Blockchain Dollar has redefined the power and possibility of stablecoins and cryptocurrency forever in perfect for investments, business transactions, or personal wealth growth.
We know that fiat paper money loses quality and needs to be destroyed and recirculated; this is no longer a physical phenomenon; it will go 100% digital. Add a group of stablecoins together that protects it against inflation, and that new digital currency becomes the parity dollar. In layman’s terms, parity dollars are the digital currency pegged to the cost of fiat money or any other assets. Ideally, the parity dollar price equals the cost of the corresponding fiat (for instance, $1 or the pegged value of the basket stablecoins).
As we mentioned above, the value of the parity dollar has a direct relationship to traditional assets (gold, fiat currency, money, or other groups of asset values) in a ratio of 1:1. Moreover, this ratio is maintained throughout the life of the parity dollar, regardless of market conditions. Thus, price fluctuations up or down are possible on the basket of stablecoins, but they are insignificant.
If you are an exchange owner and want to intergrade the Parity Dollar into your business model you can send us a message at info@ibbt.io
The Cryptofiat page measures the amount of coins or tokens pegged to the US Dollar, commonly referred to as stablecoins, being utilized within the Parity Dollar decentralized finance (DeFi) ecosystem. iBBT monitors these tokens on the Ethereum blockchain by pulling the total balance held by these smart contracts
How we define each type of Cryptofiat?
Custodial - a USD token backed by USD held in custody by a third party
Collateralized - a token pegged to USD backed by another asset or basket of assets
----------------------- | -----------------
USD Coin | Custodial
Binance Dollar | Custodial
DAI | Collateralized
True Dollar | Custodial
PAX | Custodial
HUSD | Custodial
Gemini Dollar | Custodial
Stable Coin | Custodial
NOTE: Tether Dollar (symbol: USDT) is not permitted in the basket of assets. Tether's peg is fragile and it would end up been a Black Swan event
The case of DAI: Why is DAI allowed inthe basket of assets? The main reason is that DAI tends to be over-collateralized by 200% to 300%. That means that for every DAI that has been generated, there is at least 2$–3$ worth of ETH locked up in a CDP.
Each XDL token has a corresponding 1:1 parity value of eight stabecoins. The XDL is 100% decentralized, 100% autonomous, 100% Decentralized Attestation, and 100% Decentralized Managed Supply. When the XDL is issued the supply of the XDL has an autonomous burning/issuing of the supply. This ensures the parity is always one-to-one with the value of the eight stablecoins in custody. We have selected to work with the top eight stablecoins with reliable management teams that maintain their own cash reserves against the independent value fluctuation of those stablecoins. This strategy allows our XDL holder to convert to any of the stablecoins, even if they originally selected to use a specific stablecoin conversion to XDL. The benefit of using XDL is the ability to choose which conversion best fits their daily price deviation.
XDL maintains price stability by a build-in 1:1 parity with the stablecoins in the custody basket. The supply does not fluctuate under any circumstances. For instance, even an increase in demand in XDL manifests in an increase in the volume of XDL transactions; there is no surge in the price of XDL. In essence, there is no value associated with the increased demand in one unit of XDL even when newly minted XDL, collateralized by the basket of stablecoins used to purchase it.
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The XDL Currency is borderless around the world that deposit and withdrawal XDL currency. The smart contract has a $10K KYC/AML limit per transaction. Anyone (hedge funds, traders, etc.) who wants to facilitate an amount larger than $10K in one trench can contact the XDL team for more details.
Each Parity Dollar (XDL) is backed by a 1:1 ratio that is held in an escrow account by respective parties. Qualifying institutions can participate in the Parity Dollar system, eliminating the need for trust in central entities or trust in third-party accounting. With eight stablecoins daily price deviations may fluctuate for the individual stablecoins, but the price remains in parity since the XDL holder can choose to convert to a stablecoin under custody that has the most favorable price deviation.
The Parity Blockchain Dollar (XDL) is fully verified and audited on Etherscan.
Live Smart Contract 0x496266ff0876262b0177cef026a117abc24b2532