. InDeFi’s crypto ruble will be decentralized, Mendeleev said. A trial version of the coin with minimal features is available for testing and feedback, he told CoinDesk.
The coin"will not only make it easier for Russian citizens to access international cryptocurrency exchanges, but also, after changes in legislation, provide transactions with foreign counterparties via crypto,” Mendeleev said on stage.’s DAI algorithmic stablecoin, issuance of crypto rubles will be performed by a decentralized smart contract with overcollateralization. In MakerDAO’s system, users lock ether in a smart contract and take out loans in DAI.
In a comment to CoinDesk, Mendeleev said that InDeFi hasn't been performing well recently, just “like any other DeFi project on the falling market.” It is “looking for new forms [of business] and apps.” “Just imagine, it would be as easy to trade ruble on DEXes as USDT, for example,” he said, referring to decentralized crypto exchanges and tether, the largest dollar stablecoin by market cap.
So its not a CBDC? Thats cool.
And it will be sanctioned too.
🤔 ethereum= Russian Bicoin=.......🤔
Yeah, and most likely it will collapse like most of the algo stablecoins, I guess just another confirmation that there are no other stablecoins besides usdt
HAPPY KRAKEN: This guy even tweeted about MU Inu the other day😂😂😂😂 Funny guy Luckily: What happened to Mu inu?
He should have followed the model of others , but RigelNfts has amazing features for everyone to enjoy .
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He should have followed the model Tether's USDT
Well, the only stablecoin that supports DeFi growth is USDT now.
That doesn't sound good, especially about the ruble. There is no need to invent anything, there are widely acceptable stablecoins, e.g. from Tether
Hey, Tether_to , you better hurry up and do it before them
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and china?
🫢
In other words, it's something I've never seen before?..?.?.
baidakova Nice. AsherahEth can finally pay me back.