A new stablecoin protocol in Rootstock

Flipmoney, a new Bitcoin-backed stablecoin protocol hits the Rootstock network.

Introducing Flipmoney

Flipmoney is a trust-minimized stablecoin protocol with parity to emerging market countries' currencies that use Bitcoin as collateral.

This protocol will enable Decentralized Finance for Forex and money markets to thrive in Emerging Markets. 

Users will be able to mint and send money overseas or make borderless payments.

This will also enable Fintech firms to bring new solutions to their customers. 

Protocol Characteristics

The new Flipmoney protocol has exciting features:

  • It is deployed in the Rootstock network, the Bitcoin sidechain secured by Merged-Mining.
  • Emerging markets Stablecoin tokens:
    • ARSflip: a token pegged 1:1 to the Argentine Peso
    • COPflip: a token pegged 1:1 to the Colombian Peso
  • The system collateral is BPRO, a 100% Bitcoin-backed leveraged token. Liquidity providers will mint BPROmax, a BPRO version with even more free leverage. 
  • BPROmax will have several revenue streams:
    • Commissions for every transaction in the protocol
    • Liquidity Mining Program for BPROmax holders.
    • Free leverage that can be beneficial in case the price of emerging countries' currencies depreciates against BTC. Yes we know, that’s almost a perpetual bull market.
  • Flip, a governance token
    • Enables decentralized governance 
    • It will receive part of the earnings of BPROMax from the variation in the price of emerging markets currencies against Bitcoin.

A more detailed article explaining its model is available on the Flipmoney blog.

Headups for MOC token holders !!

At Flip TGE (Token Generation Event), MOC token holders who are staking their tokens will receive 20% of all Flip tokens.

Here is an article where you can read more about it.