Protocol FAQ
Do you want to know more about Money On Chain? We present the most relevant points that you should know to understand how the protocol works.
Decentralization, resistance to censorship, and being free of counterparty risk.
One way to keep the relationship between a stablecoin and the asset it is pegged to stable is to use another asset as collateral. Money on Chain has chosen Bitcoin as the collateral for our stablecoin, because we understand that Bitcoin is sound money, the most stable crypto asset, and the only collateral that is truly secure, decentralized, and resistant to censorship.
Money on Chain is based on three tokens:
- The DoC is a USD price-pegged Stablecoin token.
- The BPro (Bitpro) is a token designed for BTC hodlers, to earn rent on Bitcoin and gain free leverage.
- The MoC token is designed to govern a decentralized autonomous organization (DAO) that will govern the Smart Contracts.
No, although we would like it to. Current versions of the Bitcoin blockchain, unfortunately, don’t support all the features required to run Money on Chain directly, so we have opted to use a different blockchain.
We use the RSK Network, the only network that provides Turing-complete smart contracts for Bitcoin.
Money on Chain’s architecture is based on a set of smart contracts. These contracts serve several purposes: platform governance, stablecoin, decentralized bitcoin leveraged exchange and a decentralized token exchange.
RSK works as a sidechain of Bitcoin and provides the rBTC, a token that is pegged one-to-one to BTC using a two-way peg wherein the supply of rBTC is limited by the supply of BTC.
RSK is the most secure blockchain after Bitcoin itself. Bitcoin miners also mine for RSK by means of a technique called “merge mining”.
RSK’s own FAQ list is available at: https://www.rsk.co/en/faqs/
Yes. Our platform is designed to run multiple stablecoins that will be collateralized independently from each other.
We will operate our own decentralized token exchange (TEX) and also plan to be listed on exchanges that will also act as secondary markets.
The collateralization is public, so anybody is able to assert the stability of the peg in real time.
BPro holders will absorb the volatility from the stablecoins and will sell it to the decentralized bitcoin leveraged operation traders.
BPro is thought to be an asset for Bitcoin holders: instead of freezing their Bitcoin in a wallet, they could put some of their holdings to work to obtain low risk leverage and earn a passive income in return for lending their money to decentralized bitcoin leveraged operation traders.
Under some conditions the protocol may limit the mint or redeem volumes. In that case the tokens can be traded in TEX Decentralized Token Exchange or any exchange that lists the token.
The rates will be defined by the market within the platform, but typically they will be smaller than any other traditional exchange.
We comply with all necessary government regulations.
The supply will be limited to 210,000,000 MOC tokens.
First, you’ll be able to participate in the governance of the DAO. Second, from the financial standpoint, MOCs can be used to pay fees for trading operations at a lower rate than if fees are paid with rBTC. As a result, we expect the value of the MOC to appreciate with the use of the platform.
Last modified 4mo ago