The DeFi ecosystem Digital Reserve Currency localized the main sections of the site and launched a Telegram chat for the Russian-speaking audience. ForkLog reported this to representatives of the project.
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The Digital Reverse Currency team translated the white paper, the roadmap and other project documents into Russian. Representatives of the platform also launched the Telegram community DRC Russia on Telegram.
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The Digital Reserve Currency ecosystem includes the Digital Reserve platform and the DRC token on the Ethereum blockchain. Digital Reserve — a DeFi platform for preserving and increasing the value of users’ assets through the DRC token.
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Digital Reserve Currency positions the DRC as a decentralized means of capital preservation. According to project representatives, the token’s objective is to protect users’ investments from the volatility of cryptocurrencies and traditional assets.
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«Users deposit DRC into the Digital Reserve platform’s deposit, and the smart contract automatically exchanges the tokens for well-balanced baskets of the most reliable assets: Bitcoin, gold and the US dollar. When withdrawing the deposit, the smart contract converts the assets back into DRC tokens and returns them to users at the current rate. The exchange takes place via Uniswap», — explains the founder of Digital Reserve Currency Maxim Nurov.
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DeFi ecosystem Digital Reserve Currency will offer users two investment baskets:
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- with low volatility relative to the US dollar. 90% of the basket is the stablecoin USDC, 5% — Bitcoin, 5% — Ethereum;
- with high volatility relative to the US dollar. Bitcoin and gold (PAXG) account for 40% of the basket each, with another 20% — Ethereum.
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The project issued 1 billion indivisible DRC tokens and listed them on the Uniswap cryptocurrency exchange without an ICO. At the time of publication, DRC traded at $0.0023.
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The team will not conduct additional issuance: minting beyond the initial supply is prohibited in the DRC smart contract.
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«We wanted the project to be accessible to everyone. This cannot be achieved by conducting an ICO. For the distribution of DRC we chose the fairest model: we listed the entire one billion tokens on Uniswap at a price of $0.000001. In October 2020, DRC’s market capitalization was around $1,000, and now — more than $2 million», — comments a representative of Digital Reserve Currency, Josh Beit.
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In the near future, the project team plans to add deposits with a fixed annual percentage yield to the Digital Reserve platform and other financial instruments. In addition, Digital Reserve Currency is in negotiations with major exchanges regarding the listing of DRC.
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Earlier in Grayscale noted, that investors view bitcoin as a store of value and an inflation hedge.
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