Wink
A Biometrics-Based Universal Identity Blockchain
Gluwacoin on the main blockchain is backed by fiat currency, serving as a gateway between the cryptocurrency world and the real world.
The mainchain connects to sidechains to form a decentralized network of stablecoin blockchains. Users can choose the sidechain with the technology and credibility they prefer.
Users can
trade Gluwacoin for fiat currency at 1-to-1 fixed rate. as long as we
operate in their country and they meet our AML policy.
We propose to bring both sovereignty and stability to a stablecoin ecosystem by using a network of blockchains.
The network connects multiple sidechains with the mainchain, forming a meta-network where users can select to transact on any blockchain they want.
The mainchain serves as a gateway for sidechains and also as a value stabilizer by minting and burning coins at a fixed price.
Any price differences or errors on networks will be reduced or corrected by users' arbitrage activities. Arbitrage trading continues until all networks become perfectly efficient, thereby helping the ecosystem stabilize.
The mainchain itself is a simple ERC20 smart contract. Sidechain operators will hold underlying liquidity of Gluwacoin within their sidechains, and users can enter or leave a sidechain at will, selecting any network they prefer to use.
