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.
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hey im trying the same, do let me know what answers youve got
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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.