The Yubi Coin is a digital currency which has been developed as a coin under IEO (Initial exchange offering) and can be used for exchange.
Yubi Coin Requirement
The Client in this project has a major requirement that he wanted to develop a Stable Coin which can be implemented in their exchange and can be used for the exchange of currencies.
- Vendor must have a deep understanding of the concepts of trading between cash and digital currencies and should be well aware about the high end terminology of the Digital currency trading.
- Vendor staff must be able to synchronize the complete project into phases such as to achieve high effectiveness and efficiency along with meeting deadlines. .
- Vendor Staff has to be trained to develop and review all the functionalities such as escrowing money, Marketplace creation, wallet functions and digital currency transfers using Cash/Fiat Money.
- Project accuracy should be 97%.
- The vendor was expected to have infrastructure in place to scale up in order the requirements are enhanced or some other additional features in the project are included which requires the infrastructure to be modified in the later stage.
.Net core, Socket Programming, Angular, Geth Server Golang), MS SQL
Yubi Coin is a project which is done under IEO (Initial Exchange Offering). The coin is available to buy on its own exchange named as Yubi Exchange.
Yubi. Exchange will offer its low-cost global currency exchange service to MSBs seeking a lower cost remittance solution in a B2B business model. It consists of few key components. The first component is Yubi, an income-producing Stable coin. The goal is to enlist a global decentralized network of money service businesses (MSBs) willing to accept Yubi as payment for completing remittances in their local country’s currency.
- Because the value of Yubi is stabilized at $1 USD, there is no risk for MSBs to accept Yubi as payment fully eliminating existing currency conversion and cross border payment fees. At any time, MSBs could liquidate Yubi for cash on Yubi. Exchange.
- Yubi. Exchange will be a marketplace to buy and sell Yubi against all fiat currencies supported in the money remittance markets served.
- Yubi is developing a Stable coin backed fully by decentralized assets that satisfies all three Use-Cases for crypto currency — “Exchange of Value,” “Store of Value,” and “Speculative-value. The first coin created using the Yubi Protocol will be called Yubi.
- The Yubi Protocol will be deployed such that other coin issuers can configure it to create their own version a speculative-value Stable coin. A few configuration options include the price trading range, the stabilization price, and the vested period for claiming the maximum percentage profits.
- The Yubi Protocol has four levels of defense against a Black Swan attack to ensure it will always maintain its value regardless of the volume of downward selling momentum. Black Swan defenses include the general market of buyers, the market makers cash reserves, the protocol cash reserves, and the decentralized profit pool.
- The Yubi Protocol leverages all four of these decentralized assets and market forces to ensure the coin maintains its intended value.
Client showed a great applause to the work done by the team on his project and appreciated the professionalism team showed towards meeting the deadlines and effectively wrapping up the task.