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Stable.Report: Dec. 17th — Dec. 24th

Stablecoin News of the Week:

Allen & Overy’s Stablecoin Report 📑 An overview of the main stablecoin models, exploration of their potential advantages, and how these need to be balanced against regulatory and policy goals covering matters such as consumer protection, financial services regulation, market integrity and financial crime. -via JD Supra

Facebook Is Developing a Cryptocurrency for WhatsApp Transfers 🤦 Facebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter. -via Bloomberg

Crypto-Mystery Clues Suggest Tether Has the Billions It Promised 🕵️‍♀️ As Tether grew into a multibillion-dollar engine of the cryptocurrency market, skeptics kept warning that the digital coin, whose main selling point is that it’s pegged to the dollar, wasn’t actually backed by an enormous pile of cash. Bank statements reviewed by Bloomberg News suggest those fears may be unfounded. -via Bloomberg

Bitfinex Introduces Margin Trading for USDT/USD 👨‍💻 Bitfinex has launched margin trading for the USDT/USD pair, which would purportedly lead to more efficient price discovery and enable users to hedge their exposure. While currently limited to USDT/USD, the exchange is planning to introduce margin trading for some other stablecoin pairings once sufficient liquidity is reached. Along with a dedicated lending market, USDT will be available as collateral for margin positions, the post further reads. -via Bitfinex

Watch For The Rise of Stablecoins in 2019 🎙️ Henri Arslanian, Hong Kong & China FinTech & Crypto Lead. PwC, joined Doug Krizner on Daybreak Asia. He looks at key fintech developments, why cryptocurrencies have struggled so much over the last year and what he’s looking out for in 2019. -via Bloomberg

This Brazilian Bank Is Using Ethereum to Issue a Stablecoin 🇧🇷 Revealed exclusively to CoinDesk, the Brazilian National Social Development Bank will launch a pilot in January 2019 for the BNDES token, which runs on the ethereum blockchain and is backed 1-for-1 by Brazilian real. The bank has been experimenting with the stablecoin throughout 2018 and will now use it for tax-deductible contributions to cultural institutions. -via CoinDesk

a16z Podcast: All About Stablecoins 🎙️ Maker CTO Andy Milenius, Sonal Chokshi, and a16z crypto partner Jesse Walden jam about the important concept of debt to build the future and how stablecoins can play a role to bring this to crypto. And because open source networks are more transparent and auditable, these systems are far less opaque than, say, the huge house of cards that collapsed in the case of the 2008 financial crisis. -via a16z

DAI Keeps Peg in Insane Bearish Markets; But How? 🙇‍♂️ Crypto-collateralized stablecoins are at risk of breaking their peg, however, the risk is far less than what is generally believed. The system can collapse if and only if the price fall of the collateral is so fast and furious that nobody is willing to bid because they are afraid in the short time they are buying the stablecoins and settling the loans, the collateral value falls further. It is worth mentioning that most of those who participate in these auctions are bots for whom even a 1% gain per auction is more than enough.  -via Abram Symons

Brief Interview With Western Union CEO, Odilon Almeida 📺 Is Western Union poised to add a cryptocurrency option when cryptocurrencies achieve broad acceptance?  -via YouTube

Project Updates:

Dec. 1st-14th Progress Report 📅 This bi-weekly update includes development updates -including open sourcing their code on GitHub, technical cooperations and community events. -via Alchemint

Algorithmic Stablecoins Beyond Seigniorage Shares: An Introduction To Ampleforth ⚖️ An in-depth interview with Ampleforth (formerly Fragments) Founder and CEO, Evan Kuo.  -via Brian D. Colwell

Which Use-Case Could Be the Key to Unlocking Crypto in the MENA Region? 🌍 Adoption of cryptocurrency in the Middle-East and North Africa region currently lags behind. At least in part, that is because of uncertainty regarding whether this emerging asset class complies with sharia, or Islamic Law. Whether or not a given cryptocurrency is deemed sharia in a particular country or region, depends largely on the nature of the project. In other words, use case matters.  -via BitBay Official

Carbon X Metatransactions = No More ETH Gas Fees 💸 Users of the Carbon Wallet no longer have to pay ETH gas fees when sending or redeeming CUSD. This is a feature of their new back-end engine Carbon Fiber, which will allow any application to include a {fiat← →crypto} gateway with just a few lines of code. -via Carbon

Announcing Lynx + Carbon 🤝  Lynx users are now able to send and receive USD stablecoins, fund them via bank accounts, redeem them in wallet and swap them for EOS on DEXeos. -via Fred Krueger

Six More Exchanges List USDC 📈 Goldman Sachs-backed Circle has announced that its dollar-pegged stablecoin USDC has been listed on six more exchanges. The exchanges are IDCM crypto exchange, Alpha Wallet, ChangeNow, Loopring, Salt Platform, and XinFin. USDC passed $220 million in market capitalization, including Circle activity. -via Circle

What Is USDC? Promotional Video 📺 -via YouTube

Stable Coin Review — Paxos Standard (PAX) 🤓 The fourth review of CP Processors’ series on How Stablecoins Work, performing stablecoin reviews of the most notable projects in an effort to further raise awareness of stablecoins in general, help people understand how they work and what is their overall potential. -via CP Processor TEAM

Cred Weekly Report 12.10–12.15 📅 From product and design updates, such as the recently launched CredX Platform, to news about crypto lending partnerships and events past and future. -via Cred

Danger Foreseen is Half Avoided 🛑 Most people don’t like losing their money and prefer buying into stuff that guarantees limited potential losses. This post elaborates on downside protection and how D1 Coin provides it. -via D1

Dev Update Dec. 18th 📅 This end-of-year update by Digix brings a message from Digix CEO, Kai C. Chng, a final audit, updates on DigixDAO’s platform and a Christmas promotion. -via Digix

Kinesis Partners with Elysium City 🤝 Kinesis is now a developmental partner with Elysium City, the first major smart sustainable city project in Europe — the plans are to develop the Elysium resort on a 1,200-hectare parcel of land in the Extremaduran town of Castilblanco. Kinesis will have exclusive rights to build a vault within the city and to create a trade zone to implement the Kinesis Monetary System. -via Kinesis Money

Happy BirthDAI 🎂 A year ago, on December 19th, the first MKR vote to activate single collateral Dai was made, and the Dai Credit System became operational. It’s been an incredible journey since, with 1.5% of total Ether supply locked up in CDPs and nearly 80M Dai in circulation, the opening of 5000+ CDPs, keeping the peg despite 90% drop in the price of ETH, and over 200 integrations and partnerships.  -via MakerDAO

Making Maker — December 2018 📅 Monthly update of developments at MakerDAO, such as the recent DAO vote to decrease the stability fee from 2.5% to .5%, improvements on Oasis.Direct, listing on Coinbase, a video interview with the COO, latest partnerships and integrations, and community events. -via MakerDAO

Mile.Unity Discussed Cryptocurrency Regulation with Brazilian SEC 🇧🇷 The delegation of Mile Unity Foundation, led by Board Member George Goognin, conducted a working visit to Brazil, where they met with government officials and private businesses. -via MILE Unity Foundation

The Separation of Currency & State — Part 1 🤓 How to Design Currency That Improves Our Societies: Governments use money to pay for services and curry favor with citizens. By keeping voters happy, politicians hope to get re-elected. But all too often, governments spend money they don’t have to fund these services. They go into debt, then raise taxes and mint more money. -via Reserve Research Team

The Separation of Currency & State — Part 2 🤓 Currency’s Role in Both Government and Anarchy: Continuing the discussion of the Separation of Currency & State, and the role that currency plays in both government and anarchy. -via Reserve Research Team

ROCKZ Platform MVP 📍 This post presents what will be released in the MVP and what are the future development plans. -via ROCKZ

How Secure is the ROCKZ System? 📺 A short video interview with CTO Gabriel Rossetti -via ROCKZ

Why Are There Two Tokens for ROCKZ? What’s the Difference? 📺 A short video interview with Founder Yassine Ben Hamida -via ROCKZ

What is Counterparty Risk and How ROCKZ Faces It 📺 A short video interview with CO-Founder Alexey Borichev -via ROCKZ

RyaCoin Mainnet To Launch Dec. 25th 📍 -via Rya Community

KYC Webinar Recording 📺 This webinar explored the know your customer (KYC) practices for the financial industry. Hosted by Shamir Karkal, Co-Founder & CEO at Sila. -via YouTube

SmartValor Q4 Update 📅 Updates on the platform, regulation, fundraising, thought-leadership, events and future outlook.  -via SmartValor

Check your SNXeos allocation on Mintr! 👨‍💻 Synthetix (formerly Havven) completed the SNXeth snapshots to determine the recipients of the upcoming SNXeos distribution, user can check their SNXeos allocation through a Mintr tool. -via Havven

Bringing Regulation and Consumer Awareness For Digital Currency On A Global Scale 👮 An interview with Ido Sadeh Man, founder and council president of the Saga Foundation, explaining how they are addressing the regulatory mishmash.  -via Forbes

Scaling Seigniorage 🤓 If Terra can drive deterministic demand it can lower the cost of collateral and capture value by printing money. This post explores how to find a way to bootstrap steady demand for Terra and capture healthy seigniorage, potentially finance fiscal spending of its own and subsidize its dApps to scale the system. -via Terra Money

TrustToken Announces TrueUSD Security Enhancements and Engineering Milestones 📣 TrueUSD, which surpasses $200 million in market capitalization as it trades across 70 cryptocurrency exchanges worldwide, relies on a network of independent third-party trust companies to hold the corresponding USD in escrow. Its redemption is not threatened by any single point of failure because it leverages many different third-party regulated financial institutions to manage more than $200M. This post explores those partnerships. -via TrustToken

The Story of KSB; a Komodo Stablecoin is Born 🎉 Following the initial draft of the Komodo Secure Bond (KSB) whitepaper and the launch of the crowdfunding campaign, Ø Crypto opened a private discussion group with select members of the Komodo community and have been working on producing a direct connection between the Komodo Ecosystem and the traditional banking sector. -via Ø Crypto Union

Xank, the Ideal Money 🙇‍♂️ Money, like all other things, has undergone subtle yet steady transformation throughout several millennia and is still evolving today. This post (and infographics) introduces Xank as the ideal money.  -via