Introduction to Flipmoney

Why did we create Flipmoney?

Emerging markets financial systems face a host of regulations and costs for conducting fiat currency transactions. Streamlining daily transactions through a trust-minimized system solves many of the problems.

Flipmoney allows the creation of money markets with parity to multiple local currencies, helping Fintech companies and other DeFi protocols to improve conditions compared to the traditional system, and thus offer more attractive products to their users.

Flipmoney also enables the sending and receiving of remittances between different countries in a simple, immediate, and very low-cost way.

How does Flipmoney work?

Flipmoney works by involving two types of users that complement each other.

First, there is a user who needs a token with parity to their local currency to carry out daily transactions such as payments, taking loans, making deposits, or transfers with much less friction and lower costs than the traditional system. Second is who, being the holder of BPRO tokens from the Money On Chain protocol, wants to provide liquidity to the system, thus obtaining a series of benefits.

The user who provides liquidity delivers BPRO tokens to the smart contract and receives the BPROmax token. This token obtains commissions for transactions carried out in the protocol, that is, issuance, redemption, and swap between tokens, appreciating their technical price. Furthermore, this token varies in price as a result of the fluctuation of local currencies, which in the case of depreciation is distributed 80% to BPROmax and 20% to the governance Flip token, and in the case of appreciation only affects BPROmax.

Then any user can issue tokens with parity guaranteed by the smart contract to local currencies of emerging countries with BPRO tokens.

What is Flipmoney?

Flipmoney is a stablecoin protocol with parity to multiple currencies of emerging countries, which uses the BPRO token as collateral.

Flipmoney is a trust-minimized solution that solves the problem generated by excessive regulation and high transaction costs in emerging economies, making it more agile, simpler, and cheaper to carry out daily transactions in these economies.

Fintech companies and DeFi protocols can benefit from the different use cases enabled by Flipmoney tokens, such as offering loans and deposits denominated in currencies of emerging countries, issuing debit cards to expedite local payments, or facilitating and reducing costs in sending remittances.