Hello everyone, I want to know the process of creating stablecoin, I don't want to peg the coin to any fiat currency, I want it to be pegged to other stablecoin in the market like USDT or BUSD. Please help me out.
hey im trying the same, do let me know what answers youve got
I think it is up to your design. Maybe you can create a new token, and show that for this new stable token, it has enough reserves, that if your token has 100, you have at least $100. Or you can set a pool, that whenever you can swap your new token to USDT/BUSD by 1:1.
how do i show i have reserves,like lets say for example i have an audit report of x amount in the bank or reserve how does that information help determine the price of the token ? like do i just tell the exhanges that this is the value of my token and this is why and they list it for the price 1:1 ?
Maybe a report of bank, you can have a look at the USDC. And for the reserves, if you have 100 token, and you have the reserves worth $100 or more, I think this means 1 token = $1, you can have a look at the DAI.