The 1SG stable currency issued by the Mars blockchain overcomes the problems of today's cryptocurrencies and enters the market with the advantages of open and transparent currency circulation, efficient and convenient KYC/AML review process, stable value and income, and high liquidity. Committed to developing into a virtual stable currency leading the global market.

Project Introduction

Denmark has implemented a "no paper currency policy" since 2016, and the proportion of non-cash transactions in Sweden exceeds 90%. These are favorable indicators for the government to launch digital currency. With the popularity of digital currencies in the world and the characteristics and advantages of virtual stablecoins, Mars developed 1SG stablecoins. Our mission is to make transactions free and the world more trustworthy.

Users holding stable currency actually hold the IOU of the stable currency issuing company. The centralized issuing company mortgages its own assets to issue stable coins. Each stable coin corresponds to its equivalent legal assets deposited in the bank, ensuring that the stable coins held by users can be converted back to legal currency in proportion. 1SG is A stablecoin based on SGD (SGD).

Project Highlights

Spendable Stablecoin
1SG is the world's first trusted stablecoin. Open and transparent currency circulation, efficient and convenient KYC / AML review process, absolutely safe and highly liquid.

Protective Guarantee Mechanism
Find the number of 1SG stablecoins in circulation through the Ethereum blockchain, and compare them with the audited bank balance statements issued by the proof of reserve system to ensure that there are sufficient legal assets Assure.

Payment, settlement and cross-border transactions
Complete the basic transaction review in accordance with the international standard KYC / AML, combine the advantages of blockchain technology with the advantages of traditional financial institution customer information, develop more efficient, Accurate and credible KYC process.

Full supervision by the three-party audit agency
By connecting with the world's mainstream cryptocurrency exchanges, the most active trading pairs are created; users can complete various cryptocurrency exchanges and fund hedging through their exclusive wallets , asset preservation, cross-border transactions, payment and settlement, etc.

Application scenario

The channel of digital asset allocation

Whether the digital currency market is in a bear market or a bull market, the market's demand for stable coins will continue to grow, because even if the market acceptance is such as Bitcoin, it cannot play the three major functions of currency, and a relatively stable digital currency has a great impact on digital currency and even The development of blockchain is of great significance. However, the existing stablecoins in the market currently have various defects. 1SG provides new options for solving these problems through mechanism design and operational investment.

Convert to 1SG as a hedge during market fluctuations. Investors trading digital assets can hold 1SG assets, limiting the risk of digital asset fluctuations without the cost and delay of converting to legal tender. Digital asset traders can use 1SG to perform complex hedging operations, such as hedging, arbitrage, swaps, etc., to effectively avoid the loss of exchange losses caused by the exchange of digital assets from eroding profits.

1SG will become the settlement base currency for cryptocurrency transactions, undertaking the payment, clearing and settlement functions of each cryptocurrency pair.

Accelerator of international trade capital flow

International trade is an important part of the international economy. The current cross-border payment system is still at the level of decades ago, and banks use SWIFT to complete transaction confirmation. First of all, the efficiency of cross-border capital transactions is low. There are many intermediaries involved in the payment through the agency bank, and the relevant documents need to be confirmed repeatedly. The transaction delay is generally 3-7 working days; The current transaction system has a lot of fees, and every link involves payment of fees, such as handling fees, certificate renewal fees, non-conformity fees, etc.; finally, security issues such as payment breaches arising from the current payment system are more prominent, and wire transfer payments involve credit issues with counterparties , There are also losses caused by bank defaults in letters of credit.

The 1SG with stable value provides a basic transaction tool to solve the above cross-border trade payment problems. It uses the blockchain to achieve second-level transaction settlement, without intermediate links, greatly reducing transaction costs, and completing fund delivery through smart contracts. , Ensure that the payment is cleared and the transaction security is guaranteed.

Next Generation Mobile Payment Based on Stable Digital Currency

Through smart contracts, functions such as smart payment, convenient collection, transfer and financial management of digital currency are realized, settlement services are provided for various life DAPP applications, and more convenient and cheap payment tools are provided for the lives of ordinary people, creating a stable system based on The next generation of digital currency "Alipay/WeChat".

Payment
Stable digital currency is used for payment, 1SG is the digital asset of the exclusive wallet center, and the payment is completed point-to-point, which is safe, convenient, and has lower handling fees.

Receipt
There are multiple payment methods such as QR code and payment address, and you can directly collect 1SG, which is the benchmark against the new currency, without the need for secondary exchange to achieve second-level collection, which can greatly reduce handling fees.

Transfer
Support direct conversion of legal currency deposits to 1SG, which can realize transfers within the station and smart contracts on the chain, without any delay in receipt and payment.

Financial management
1SG-based digital currency financial management, similar to Yu'e Bao, customers can freely choose fixed income and floating income, and use smart contracts to ensure the security of transaction principal and income.

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