Kava Labs is Developing Ripple's XRP Collaterised Stablecoin

[Wolex]

https://todaysgazette.com/kava-labs-is-developing-ripples-xrp-collaterised-stablecoin/

[yxxyun]

https://github.com/Kava-Labs/usdx/tree/master/spec

Well, it's built on Tendermint Cosmos, I wonder why not on XRP ledger?

[Guest]

1 hour ago, yxxyun said:

https://github.com/Kava-Labs/usdx/tree/master/spec

Well, it's built on Tendermint Cosmos, I wonder why not on XRP ledger?

Try here instead 

https://github.com/Kava-Labs/usdx/blob/master/spec/usdx.md 

Or here. This might help to better understand their reasoning for using Tendermint. 

https://hackernoon.com/tendermint-explained-bringing-bft-based-pos-to-the-public-blockchain-domain-8e5b0d360fa3

Edited May 17, 2019 by Guest
Added additional resource

[LiquidGoat]

I mean this is awesome right? If they print 3 billion usdx then they will need to hold the same value XRP as collateral right?

 

we need a usdx printing press if that’s true.

[Guest]

57 minutes ago, LiquidGoat said:

I mean this is awesome right? If they print 3 billion usdx then they will need to hold the same value XRP as collateral right?

 

we need a usdx printing press if that’s true.

If we have xrp can we participate in the POS? That might be interesting. 

[Guest]

very interesting concept... just broke my brain trying to visualize how this works

Quote

The stablecoin is pegged to a USD and collaterised with Ripple’s XRP.

The USDX appears like the MakerDao, however, it is built on Cosmos, a new blockchain protocol that makes use of Tendermint BFT for consensus. It also has a hub-and-spoke model of cross-blockchain interoperability that emphasizes composability and self-sovereignty of application specific blockchains.

that's some massively complex financial shenanigans

[cryptoxrp]

4 hours ago, Wolex said:

https://todaysgazette.com/kava-labs-is-developing-ripples-xrp-collaterised-stablecoin/

I really love the quote at the bottom of the article .. yes I do read them all

"“Thus, you’d be able to stream USDX payments with coil without XRP volatility (being USDX backed by XRP itself),” he concluded."

[Guest]

I think XRP is going to be 'backing' many more 'things' than just stablecoins.

[Danny]

Am I wearing a tin foil hat on this one?

[King34Maine]

On 5/17/2019 at 5:04 AM, Guest said:

Try here instead 

https://github.com/Kava-Labs/usdx/blob/master/spec/usdx.md 

Or here. This might help to better understand their reasoning for using Tendermint. 

https://hackernoon.com/tendermint-explained-bringing-bft-based-pos-to-the-public-blockchain-domain-8e5b0d360fa3

Looks like that github link is no longer active.

[Guest]

On 5/17/2019 at 10:04 AM, Guest said:

Try here instead 

https://github.com/Kava-Labs/usdx/blob/master/spec/usdx.md 

 

On 6/22/2019 at 2:36 AM, King34Maine said:

Looks like that github link is no longer active.

aaaaaaaaaand it's gone

another failed xrp project? maybe they tried launching on gatehub...