Bytom officially released MOV Stable Financial System Whitepaper 1.0
On January 15th, Bytom officially released MOV Stable Financial System Whitepaper 1.0 and proposed an innovative stablecoin financial system based on MOV crosschain value exchange protocol.
From basic economic and MOV infrastructure-building perspective, the system consists of a diversified collateral framework, stability mechanism and clearing system. Through the introduction of risk bonds. A brand-new onchain finance and multilateral trading mechanism is constructed on the basis of n the risk control models and theories in the traditional financial industry. The MOV stablecoin system was born, served and beyond cross-chain.
MOV differentiates from other existing stablecoin financial systems in two main aspects:
1. Most of the current stablecoin projects start from the stablecoin itself, constantly telling the story of the stability mechanism and algorithm regulation, earning short-term benefits of replacing currency issuance or participating in the lending market, failing to build a complete ecosystem and the overall supporting facilities that stablecoin should have, which led to shortage of infrastructure dependency, rich collateral framework and application scenario expansion. Therefore such stablecoin system lost its positioning on being a lending matcher or a transaction medium, ignoring the core meaning of establishing a stablecoin- the right of clearing and pricing.
MOV will consider the design philosophy of stablecoins more from its complete ecological architecture and development blueprint, so that infrastructure can promote the construction of stablecoins, and stablecoins push back the evolution of infrastructure, and eventually form a standard pricing unit widely accepted by the ecology.
2. The incentive cycle. MOV stablecoins will fully take into account all the roles of direct and indirect participation in the stable financial system ...