It’s is a well known fact amongst crypto-holders that the crypto market is at an immature stage, the regulations are just starting to form the market. On top of all that the market is very volatile, speculative and risky. Due to these facts there are several projects working on a stable crypto payment-asset. The coin that succeeds in doing so, will get remarkably close to achieving Satoshi’s dream, creating a blockchain based payment asset.
There are 5 accepted methods of creating stable price cryptocurrency:
- Fiat backed (E.g. USD, EUR) - Centralized
- Cryptocurrency backed (E.g. BTC, ETH) - min. 200% backing needed
- Asset backed
- Backed by the community’s governance - Decentralized
Corion aimed to create a stable price scalable payment asset. The first product is Corion Coin, which is a fully complete open source smartcontract system which has proved its technological functions. https://github.com/CORIONplatform
The main functions of the Corion coin:
- continuous inflation and deflation to keep the price stable
- emission (inflation) is based on the demand and activates. If the price reaches $1, it distributes the newly released coins amongst the community (fair mining)
- built in business model (provider, marketplace) to business like users, etc.
As we designed the platform the feedback from the market strongly indicated that it is ready to implement the “backed by the community’s governance” model with it’s responsibility. After the token distribution, giving in to the pressure of the community Corion coin was listed on public exchange where it was paired with the already very volatile Bitcoin.
Traders and trade-bots are not focusing on Corion Coin’s qualities. They have primarily focused on pumping and dumping and the profit that can be derived from those activities. Due to speculators, bounties and bonus cash-outs, the backed by the community’s governance model became unapplicable. They started to sell Corion under $1 for speculative reasons. This example further proves that the speculation based crypto community is not yet mature enough to sustain a community’s governance based decentralised model.
These events were acknowledged and analysed by the Corion team and the coin’s true fans.
The Corion team is dedicated to create a stable payment platform.
The system is ready to use since August 2017. The smartcontracts, wallet, provider features, token transfer, coin emission above $1, buy gas functions and the support are also working well currently.
Based on our experiences we are working hard to comply with current and upcoming regulations, KYC, GDPR, institutional partnerships.
We will constantly announce the results and conclusion of our tests in the future to our community.
The Corion team is working hard to reach its goals. You, as a user can also help to achieve the working stable price model with the following steps:
- Don’t dump Corion Coin price with your negative comments, posts;
- Don’t sell your Corion Coin under $1 on Cryptopia (Backed by the community’s governance!);
- Store your Corion Coins in the Corion wallet and join a provider;
- Don’t use Corion Coin for speculation;
- As Corion Coin is open source you can develop new features to increase its usability;
- Spread out positive news that Corion works on to create a stable price crypto platform, and as it succeed it will write history in crypto evolution.
We are here, and working on to create the scalable stable price platform which provides value to the stablecoin community.