CROSS USD — NEW STAR IS BORN
Cross USD (cUSD) is a very first Cross-chain algorithm stable coin integrated on HUOBI ECO CHAIN and BINANCE SMART CHAIN based on Basis algorithmic stable coin protocol — of which the operating mechanism can be understood simply as follows:
- When demand is rising, the blockchain will create a more stable coin. The expanded supply is designed to bring the stable coin price back down.
- When demand is falling, the blockchain will buy back the stable coin. The contracted supply is designed to restore stable coin price.
- The protocol is designed to expand and contract supply similarly to the way central banks buy and sell the fiscal debt to stabilize purchasing power.
Aimed to revive the original vision of Basis, our CROSS USD protocol initially released as a lightweight implementation while adding ideas and innovations made since the original project and other similar projects (that have been built based on the original Basis project) shut down.
How can CROSS USD outperform others?
There are countable improvements of our CROSS USD that over other similar projects:
- A Strict token distribution: we have allocated a strict token distribution, aiming to bring fairness between everyone including users and founders. That’s also how we create a sustainable ecosystem. See detail below at Token Distribution.
- A Referral system: Differ from other projects which focus on marketing but not sure if it will work, our Cross USD project create a referral system where we give rewards for referrals — a system that will not only benefit our user but also make a reliable effective marketing method for this type of project — word of mouth marketing
With 3 types of token:
Cross USD (cUSD): a stable coin, which protocol aims are to maintain value-pegged to 1 US Dollar and are intended to be used as a medium of exchange.
Cross USD Bonds (cUSDB): tokens that issued by the system to buy back cUSD when price cUSD < $1.
Cross USD Shares (cUSDS): tokens whose supply is fixed at the genesis of the blockchain. They are not pegged to anything, and their value stems from their dividend policy. When demand for Cross USD goes up and the blockchain creates new Cross USD to match demand, shareholders receive these newly-created Cross USD pro-rata so long as all outstanding bond tokens have been redeemed.
Let’s have a look at how we allocate them to bring the best benefit to our user and create a sustainable ecosystem:
FARMED cUSDS DISTRIBUTION
80% cUSDS for FARMER
10% cUSDS for Development Team *
10% cUSDS for Referral System
* Among the distribution, Dev’s 10% cUSDS are released simultaneously with the mining pool, which will be used for the improvement and upgrades of Cross USD protocol as well as the marketing and operation.
Cross USD does not have any pre-allocations for the Founders, Development Team Member, or any Angel Investors. We believe that Cross USD SERVE THE USERS, FOR THE USER & BY THE USER who performs actions beneficial to the network, not the Founders nor Investors.
• Fair, open cUSDS Token Sale for ONLY WHITELIST users who love the project. All the user’s funds are adding pools (HUSD-cUSD, HBTC-cUSD, USDT-cUSD) instantly when the users purchase the cUSDS token. Just only 6% of cUSDS total supply are for ICO, all tokens remaining are for staking and farming rewards. That are advantageous to the protocol’s long-term success, instead of investors/speculators targeting short-term profits.
6% cUSDS for ICO
5% cUSDS for Marketing (4%), Airdrop (1%)
89% cUSDS for Stake/Farm Rewards
More detail about how you can earn farmed tokens and receive referral commission will be clarified in our next postings.
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