CNYQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defenses against malicious acts and attacks. First, run in the line of fiat-pegs, CNYQ is brought by PLATINUM Q DAO ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins.
The ecosystem of the stablecoin is constructed on several key elements. The 1st element of the ecosystem is the exchanges. CNYQ bargains on the secondary market at the price of 1 CNY for 1 CNYQ, respectively traders interact with this coin, as well as with any other. To buy CNYQ at the exchange is the first way by means of which it is possible to get stablecoin. The 2nd way, which includes several important elements of an ecosystem, is receiving the credit in the stablecoin CNYQ through crypto assets collateral. The stability of CNYQ token is maintained by the holders of QDAO tokens which is Governance token in the ecosystem. Respectively, when new crypto assets enter the ecosystem, the created smart contract prints new CNYQ and sends them to the borrower. When the borrower wants to take away the collateral and return the credit, it undergoes the return procedure on the website, at the same time paying a certain interest rate for use of stablecoin credit. After the return of CNYQ together with payment of commission for use of proceeds of credit, crypto assets are de-frozen and return to the address of the borrower's wallet, and CNYQ tokens are burned. The credit in CNYQ tokens is issued for a limited term. If the credit lasts, then it is necessary to bring the commission in the governance tokens QDAO. If the credit is not returned in time, then pledge in cryptocurrency goes to untouchable stabilization fund. In case of elimination process crypto assets of stabilization fund are sold first.