Web App FAQ
Useful answers to the most frequently asked questions about the Money On chain web App. See the article for more information.
The dollar on chain, our first stable coin. It is pegged 1:1 to the US dollar guaranteed by the smart contract.
The peg is guaranteed by the smart contract, the rules and incentives are aligned so DoC can always be redeemed for the same amount of dollars in rBTC. For more details check our technical whitepaper.
You have to pay a small fee to mint or redeem DoC. You can pay with MoC tokens (0.1%) or with rBTC (0.15%).
It is free, once DoC tokens are issued, Money On Chain protocol does not charge for transfers.
Yes, you only need to connect your hardware wallet using rLogin screen.
A BPro is a HODL + Earn token that enables hodlers to earn more Satoshis on bitcoin while keeping their private keys with no commitment. Its value comes from the amount of bitcoins it represents on the Money On Chain smart contracts, the bitcoins represented by a BPro are literally trapped inside the smart contract. The BPro is designed for long term bitcoin holders, it pays a passive income in bitcoins and it has a little bit of free leverage. This means that when the price of bitcoin goes up, it goes up a little bit more increasing the amount of bitcoin you hold, and when the price of bitcoin goes down, it goes down a little bit more, however this downside can be diminished by the passive income. On top of this, BPro holders receive MoC tokens from the Liquidity Mining program for providing collateral to the protocol.
The incentives are aligned so that when the price of bitcoin drops significantly, more collateral is added to the system. Which is designed to make BTCx take most of the risk. With the latest improvements, the only way for the system to settle is if the MoC holders so decide in case the Coverage remains around 1 for a while. You can read more about this in the article What if bitcoin had a flash crash?
Typically you will be able to redeem your BPro for bitcoins against the smart contract. But there are some unusual market conditions where the collateral cannot be taken out of the system. In this scenario you will be able to sell your BPro for bitcoin or DoC in the decentralized token exchange, TEX or another secondary market like Sovryn.
You have to pay a small fee to mint or redeem BPro. You can pay with MoC tokens (0.1%) or with rBTC (0.15%).