Paddy Baker, a Senior Journalist at Crypto Briefing, covered our unrolling of a public test net, meant to simulate what our platform is going to look like and how it is meant to work once it is fully functional.
He starts by explaining the main idea behind our stablecoin, namely, the fact that Anchor is not tied to a fiat currency, unlike other cryptocurrencies that tried to achieve stability by pegging their value to the US dollar, for instance.
Instead, he elaborates, Anchor uses an MMU-backed algorithm to estimate the global GDP fluctuations and reflect their changes in the value of tokens.
Since the global GDP has been on a steady increase for quite a while now, the token’s value is also predicted to grow steadily, and the only way for it to start dropping would be if the same happened to the global GDP.
This kind of synchronization with the global market ensures a safe investment without you having to worry about how a particular fiat currency stands in relation to the world economy.
Test net allows users to try out our interface by simulating the experience of purchasing Anchor or Dock Tokens, and allows us to optimize that experience as much as possible before the official unrolling of our platform. The actual Anchor Tokens will not be available for purchase until at least early August 2019, two months after a private sale of Dock Tokens scheduled to start in early May has been concluded.
The report ends with the quote from our founder and CEO, Daniel Popa, explaining how pegging the currency to the global GDP ensures its stability and independence from the fluctuations in the global market.
To read the entire article, click here – Anchor Reveals GDP-Pegged Stablecoin On Ethereum and Stellar.