By
Temitope Olatunji
April 24th, 2024
Allowing investors to get a 45% bonus during the additional sales stage, USDDex aims to attract the crypto community to active participation in the project.
Because of the high volatility of usual cryptos, investors are willing to put their money into something more reliable and secure. For those who strive to avoid taking a risk, stablecoins are exactly what they need.
This type of cryptos is stable and pegged to real-world assets such as fiat or even gold or oil. You have probably heard of Tether (USDT), TrueUSD (TUSD), or Gemini Dollar (GUSD). Soon, the world will see a new stablecoin issued by the Japanese company USDDex.
About USDDex
USDDex is a Japanese company founded by Hitoshi Shibata, a member of Working Group on the Japanese banking industry and blockchain integration. The development team behind USDDex has great experience in the blockchain industry and in such projects as OpenVZ and Debian. In April, USDDex is planning to launch its stablecoin that is promised to correspond to all overriding requirements specified by the largest exchanges.
USDDex is directly pegged to the US Dollar on a 1:1 ratio. The developers assure that users will never have to worry about the coin’s price fluctuations as each USDDex is always collateralized in excess. USDDex, with its stability guaranteed despite the market mood and behavior, is secured by open source code and multiple and thorough security audit. Moreover, users will be able to check information on the locked collateral of each USDDex.
On its website, the company emphasizes the major advantages which they believe will soon make USDDex one of the leading stablecoins. They include fixed rate (1 USDDex = 1 USD), Ethereum ERC-20 standard, absolute decentralization, certified security audit, open source code. Furthermore, USDDex is adaptable to both centralized and decentralized exchanges and supported by all largest Ethereum wallets.
USDDex Sales Details
One month before the stablecoin official offering, USDDex team decided to launch an additional stage of sale that starts from March 19 on the official USDDex site and allows investors to get a 45% bonus. Such a strategy is aimed at involving the crypto community in active participation in the project.
The main closed round of investment had been conducted in December 2018. Held only for investment funds, the round was successfully over in just several hours.
The number of submitted applications and increased interest in the project from potential investors result in the suggestion that the additional sales stage will be completed during the first hours as well.
USDDex Prospects
Some analysts have already declared 2019 the year of stablecoins, explaining that with the fact that the monthly traded value of only first five stablecoins exceeds $100 billion and continues to grow. Ever increasing interest to stablecoins is out of question. This form of cryptos has already attracted hundreds of millions of dollars financing from the largest venture companies, such as Google Ventures, Andreessen Horowitz, Digital Currency Group, MetaStable Capital, Pantera Capital, Bain Capital Ventures.
For USDDex, this year may also become crucial. As some predict, USDDex will eventually surpass the largest players and become the most useful and dominant stablecoin on the market. Analysts see a huge potential is USDDex as it offers significant value, relevance and transparency and provides a unique approach to protect its value against volatility.
The USDDex development team is currently focused on new partnerships. The highest priority is set at cooperation with 0x Relayers and leading cryptocurrency exchanges.