What is an ByDzyne Dollar or (USBD)?
- Mainnet : 0x8e12E7225d738386758832991F010c82De23f86d
- Main Features: Run on the ethereum blockchain
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The ByDzyne Blockchain Dollar (USBD) is an Ethereum based stablecoin backed by a basket of Stablecoins that are pegged to the USD. USBD was developed by iBlockchain Bank and Trust Technologies Co. and bootstraped by ByDzyne Inc and Sustainability Creative Co.
ByDzyne 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 ByDzyne 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, ByDzyne 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, ByDzyne 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 ByDzyne 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 ByDzyne 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 ByDzyne dollar. In layman’s terms, ByDzyne dollars are the digital currency pegged to the cost of fiat money or any other assets. Ideally, the ByDzyne 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 ByDzyne 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 ByDzyne 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 or a merchant and want to intergrade the ByDzyne Dollar into your business model you can send us a message at [email protected]
The Cryptofiat page measures the amount of coins or tokens pegged to the US Dollar, commonly referred to as stablecoins, being utilized within the USBD 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
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USD Coin | Custodial
Binance Dollar | Custodial
DAI | Collateralized
True Dollar | Custodial
PAX | Custodial
HUSD | Custodial
Gemini Dollar | Custodial
Stable Coin | Custodial
Each USBD token has a corresponding 1:1 parity value of eight stabecoins. The USBD is 100% decentralized, 100% autonomous, 100% Decentralized Attestation, and 100% Decentralized Managed Supply. When the USBD is issued the supply of the USBD 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 USBD holder to convert to any of the stablecoins, even if they originally selected to use a specific stablecoin conversion to USBD. The benefit of using USBD is the ability to choose which conversion best fits their daily price deviation.
USBD 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 USBD manifests in an increase in the volume of USBD transactions; there is no surge in the price of USBD. In essence, there is no value associated with the increased demand in one unit of USBD even when newly minted USBD, collateralized by the basket of stablecoins used to purchase it.
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The USBD Currency is borderless around the world that deposit and withdrawal USBD 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 USBD team for more details.
Each ByDzyne Dollar (USBD) is backed by a 1:1 ratio that is held in an escrow account by respective parties. Qualifying institutions can participate in the ByDzyne 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 USBD holder can choose to convert to a stablecoin under custody that has the most favorable price deviation.
The ByDzyne Blockchain Dollar (USBD) is fully verified and audited on Etherscan.
Live Smart Contract 0x8e12e7225d738386758832991f010c82de23f86d