USDONE Increases annual Dividend for our token Holders from 7% to 10%APR
The interest rate offered by many DEFI platforms on stable coins is in the range of 6-10% APR.
Therefore, in order to be competitive we have decided to increase our annual interest rate from 7% to 10% APR. This would amount to 0.798% on monthly basis.
And we also have decided to make it effective from 1st Feb 2020 onward.
We look forward for community support to make it a dominant stable coin and a well recognized defi product from Steem platform.
I have written many articles about DeFi and studied ERC tokens and the DAI on the Ethereum blockchain. But I thought the only stanlecoin on Steem was SBD. This post suggests there is another one; USONE.
Questions?
Are you pegged to the UNited States Dollar?
Do you maintain cash reserves to back up the Token?
Do you have third party auditing?
The answers to these questions could mean a credit facility could be established here on the Steem blockchain, which combined with non-fungible Tokens on the Steem-Engine side chain could create demand for USONE, Steem and Steem-Engine Tokens. The lower cost of transactions on the Steem blockchain could be a big competitive advantage over the Ethereum blockchain and if interest rates for borrowing are lower the MakerDao.
I would love to know more.
Posted via Steemleo
Due to harforking scenaria - we kept off till dust settles down. It has still not settled. We will introduce more features and focus on visibility once SMTs are implemented in full decentralized mode.
But still below are answers to your questions
We hope it answers your questions. Pls feel free if you have any more questions.