Dear PointPay Family,
We are pleased to announce the listing of Frankencoin, $ZCHF, on the PointPay platform. This completely decentralized set up stablecoin project solves the problems that current stablecoins have, such as trust in centralized third parties, and provides a safe haven for censorship-resistant FIAT money. In addition, the Swiss Franc is the most stable FIAT currency in the world, outperforming the US Dollar by 70% in the last 40 years.
Frankencoin overview
The goal of Frankencoin is to establish a stablecoin that solves the problems that the present stablecoins are having. These problems include relying on centralized oracles, trusting centralized third parties, and having fewer options for collateral when minting stablecoins.
Stablecoins are desperately needed, as seen by the developing digital financial scene, which has a 146,736,756 billion CHF total market capitalization. They are essential to the cryptocurrency industry because they can store value during times of extreme volatility, make it easier for capital to move between exchanges, and allow for quick, inexpensive cross-border transactions. This is especially helpful in nations with high rates of inflation, as stablecoins can provide a reliable and easily available alternative to fiat money. Above all, they make possible a number of the most exciting DeFi applications.
Stablecoins as they exist today have drawbacks despite their apparent advantages. The two most often used ones, USDT (Tether) and USCD, rely on a single issuer. There are issues with openness and confidence arising from this. For instance, a group of businesses that own USDC has the authority to freeze money and add addresses to a blacklist. Furthermore, contrary to popular belief, the DAI, the most well-known decentralized stablecoin, is not very decentralized. It depends on oracles that might be influenced by players outside the system.
Unlike other collateralized stablecoins, Frankencoin’s auction-based liquidation mechanism does not depend on external price sources. It is very flexible with regards to the used collateral. In principle, it supports any collateral with sufficient availability on the market. However, its liquidation mechanism is slower than that of other collateralized stablecoins, making it less suitable for highly volatile types of collateral.
Explore Frankencoin (ZCHF) at PointPay. Together with our newly integrated FIAT On and Offramp from DFX.swiss
The Swiss Powerhouse of DFX and Frankencoin provides all PointPay users a well-rounded ecosystem that let PointPay customers convert their Swiss franc (CHF) from the traditional banking world to Frankencoin ($ZCHF) 1:1 on PointPay with 0% fee and no spread using all relevant payment options including bank transfers and credit cards with Apple and Google Pay.
Frankencoin is an innovative project that provides stability and security for your digital assets. The ZCHF token is now available on the PointPay platform, offering users new opportunities to manage their assets and participate in a decentralized ecosystem. Join PointPay and start using ZCHF today for maximum benefit and security in your cryptocurrency transactions.
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