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Gluwacoin
A Decentralized Network of Stablecoin Blockchains
You can trade in Gluwacoin for fiat currency at 1-to-1 fixed rate. So long as we operate in your country and you pass our AML policy, you may redeem Gluwacoin 1-for-1 for your local currency with us.
Gluwacoin on the mainchain is backed by fiat currency, serving as a gateway between cryptocurrency world and the real world.
The mainchain connects to sidechains to form a decentralized network of stablecoin blockchains. Users can choose a sidechain with technology and credibility they prefer.
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 a blockchain they want.
The mainchain does not only serve as a gateway for sidechains but also as a value stabilizer by minting and burning coins for a fixed price.
Any price differences or errors on the networks will be reduced or corrected by users' arbitrage activities. Arbitrage trading would continue until all networks become perfectly efficient, thereby helping the ecosystem stabilize.
The mainchain itself is a simple ERC20 smart contract. Each side-chain operator will hold underlying liquidity of Gluwacoin within their sidechains, and users can enter or escape a sidechain at will, selecting a network they would like to use.
