DiamondBack Whitepaper
  • DiamondBack:
  • Abstract
  • Definitions
  • Trust Model
  • Introduction
  • What Problems does DBK Solve?
  • Overview of Stablecoins
  • Why Diamonds? Pricing Methodology, Cryptographic Registration
  • Why buy the DBK Coin?
  • DBK Coin Usage & Utility
  • Fundamental Analysis
  • *'s defined, Design Philosophy
  • Long-Term Vision / Strategy
  • Team / Advisors
  • Strategic Relationships and Service Providers, Conclusion, Contact
  • Disclaimers / KYC / AML
  • đź‘“Forward-Looking Statements
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Overview of Stablecoins

PreviousWhat Problems does DBK Solve?NextWhy Diamonds? Pricing Methodology, Cryptographic Registration

Last updated 3 years ago

Volatility has hampered the widespread adoption of cryptocurrencies as a store of value. Because of the associated volatility - huge price fluctuations - most cryptocurrencies do not provide for a proper means of exchange or unit of account. Businesses are reluctant to accept digital currencies when their value can drastically drop overnight. It also makes it harder for anyone to accept a currency as a unit of account, since there is no common agreement as to how much that unit is or will be worth. Stablecoins provide an alternative to this volatility. Although highly variable, the daily trading volume of Stablecoins oscillated at around $40-50 Billion USD (March 2020) which is about a 1000% increase from March 2019 and continues to grow. Stablecoins are also gaining popularity among traders. Furthermore, since March 2020, the Stablecoin market cap grew another 94%, as of June 2020. This market continued to exhibit exponential growth throughout 2021.

Comparable 1: USDT Tether. Launched in 2015, current market cap $78.3bn, daily trading volume (on par with Apple stock) $83bn. Click on the associated links to see how much each of these tokens have grown to date:

Tether converts cash into digital currency to anchor, or tether, the value to the price of national fiat currencies like the US Dollar, the Euro and the Yen. Notionally6, every Tether is always backed 1-to-1 by traditional currency held in audited reserves. 1 USDT is always equivalent to 1 USD. The Tether platform is built on top of open Blockchain technologies, leveraging the security and transparency that they provide.

Comparable 2: USDC (US Dollar Coin). Launched in October 2018, current market cap $43.2bn.

USDC was co-founded by Circle and Coinbase in September 2018. The U.S. Dollar-backed token is now substantiated by over 100 partners. Introduced in an effort to establish a standard for fiat on the internet, USDC is listed on dozens of crypto exchanges across the globe.

Comparable 3: TUSD (True US Dollar): Launched in January 2018, current market cap of $1.3bn).

TUSD is a USD-pegged stablecoin released in January 2018. Generated by pledging USD of the same value, the token is legally compliant and verified real-time by third-party accounting firms. TrueUSD uses multiple fiduciary and bank partners to reduce counterparty risk and provide token-holders with legal protections of the underlying funds.

DiamondBack’s DBK Coin brings innovations to the Stablecoin market as a unique inflation-proof Stablepriced digital currency entering this parabolic Stablecoin market. According to PwC, “Stablecoins are in the early development phase at this time and the design paradigms are still forming for what may be the future of money...”

6 https

Link to Tether
Link to USDC
Link to TUSD
://www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents