Feel free to continue asking questions on this Agora thread.
I’ll be answering questions on USD Tez (USDtz) and all the upcoming assets in the StableTez suite, including BTCtz, EURtz, GLDtz (Tezos.gold) and more. I’ll also be discussing TEZEX (Tezos Exchange) as well as TezFin (Tezos.finance), and how they will work in synergy with USDtz and the StableTez suite.
Here’s a link to the live AMA recorded https://www.youtube.com/watch?v=KkX7tLTgn-g&feature=youtu.be
Well, the most obvious question is what’s the difference between your BTCtz and the recently released tzBTC? Looking for low-level details, not the high-level marketing stuff. In all seriousness, why would someone use BTCtz over tzBTC and vice-versa? List pros/cons of each coin. How is BTCtz minted/burned/transfered/etc? Step me through the process if I have 0.05 BTC in a bitcoin address, and want to exchange that for XTZ?
USDtz and BTCtz follow the Collateral squared, 4:1 silo growth model of StableTez assets. 2 silos of FIAT(or BTC if we’re talking BTCtz), and 2 silos of XTZ.
This is designed to maintain stability in a superposition (that’s not a marketing term), in which both spectral ends of market confidence, not just as a function of overcollateralized value but as a function of diversity of source (some people and jurisdictions prefer off-chain collateral, others prefer the on-chain collateral).
This way it can be stated that both validating observations of diametrically opposed philosophies can nonetheless agree the culminating fact that USDtz (or another StableTez asset), is at least 100% solvent.
If you have a 0.5 BTC that you want to make USDtz you can become a minter. Though that won’t apply to most people. Most people go through exchanges.
We are also working on TEZEX tezex.io
