USDU

USDU is a Stablecoin from UGPay Group AG

Each USDU coin is backed by the US dollar, positioned in custodian bank or by USDC coin (a cryptocurrency with a stable price), positioned in custodian escrow firm. This token is used for payments of dividends.

The stablecoin USDU operates on the Cryptounit blockchain. The advantage of the Cryptounit Blockchain is the high speed of transactions and zero commission for the transfer of tokens. In addition to the stablecoin, a WCRU security token and a UNTB utility token have been issued on the Cryptounit blockchain.

USDU Specifications

• Name and Ticker: CRYPTOUNIT STABLECOIN - USDU.
• Precision 2 decimal places.
• Free-token of network.
• Number of tokens: no pre-mined emission, quantity will demand on its backing by fiat dollars or by USDC.
• Smart contract to create and burn tokens.
• When transferring the USDU token on the Cryptounit blockchain there is no commission, but it is necessary to keep some amount of UNTB utility tokens to have enough RAM, CPU, NET of blockchain.

USDU on Cryptounit blockchain

Stablecoins are a new class of cryptocurrencies that attempt to offer price stability and are backed by a reserve asset. Most cryptocurrency exchanges don't support fiat pairs, so you need to have a stablecoin where traders can keep their profits without rate fluctuations, exit trading for a while and/or take profits. 

A stablecoin is a cryptocurrency whose structural characteristics allow its price to always be the same as the price of another asset. Stablecoins anchor their market value to some external reference. They can be pegged to a currency such as the US dollar like USDU, or the price of a commodity such as gold. Tether (USDT) and USD Coin (USDC) are among the most common stablecoins.

Stablecoins achieve price stability through collateralization or through algorithmic mechanisms for buying and selling the reference asset or its derivatives.

Benefits

The USDU stablecoin, unlike the regular US dollar, doesn’t require a bank account and it doesn’t require that you live in a particular geography. Currently one million stablecoins USDU is in circulation. The value of issued coins is equal to one million US dollar. The tokens are available on the Estonian cryptocurrency exchange UnitEx, a trading platform that provides cryptocurrency wallet management services, and also includes crypto-fiat and crypto-crypto exchange transactions. After the distribution of the first batch of stablecoins, the company has planned a new emission of USDU that will also be backed by stablecoins USDC.

UnitEx Exchange Features

• Reliable storage: They have a high quality technical and safety team. Customer’s funds are stored in custodian wallets.
• Lower Exchange Fees: UnitEx provides trading facilities in a very low price and market maker fees.
• High speed data flow: The UnitEx exchange is built on micro services and deployed on a Kubernetes cluster, that makes high-speed operations possible.
• Secured Wallet: Designed for deposits and withdrawals.
• Reliable Security Solutions: Provides 2 step verification.
• Cryptounit blockchain tokens CRU, UNTB and USDU stablecoin available.