MCR stablecoin

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Created page with "'''MCR stablecoin ''' MCR is a stablecoin, a decentralized cryptocurrency with a soft peg to the exchange rate of the Russian ruble, called the "crypto ruble". The token is…"

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”’MCR stablecoin ”’

MCR is a stablecoin, a decentralized cryptocurrency with a soft peg to the exchange rate of the Russian ruble, called the "crypto ruble". The token is created on the Ethereum blockchain. MCR is the unit of account of the MonolithosDAO system.

MCR is resistant to inflation because, like any stablecoin, it has low volatility. Thanks to this feature, the coin can be used for daily settlements, as well as for hedging risks as a store of value. Also, MCR can be used in decentralized applications. These areas of application of the cryptocurrency make it a universal means of payment, which potential market is as large as the entire decentralized blockchain industry.

==MCR โ€” decentralized cryptocurrency ==

As mentioned above, MCR is the MonolithosDAO unit of account. The system is completely decentralized โ€” there is no administrator or person capable of making decisions individually, all management is carried out by the community. Also, MonolithosDAO is in no way connected with the Russian Federation state authorities and thanks to this MCR can become an ideal crypto ruble, free from Central Banks or other regulatory bodies manipulations.

==Using MCR ==

The MCR cryptocurrency is generated on the [https://land.monolith.money/ Land platform].
To generate coins, the user needs to make collateral in any Ethereum asset โ€” it will be used to secure the issued tokens.
The generated MCRs can be purchased on exchanges, exchange services, and in other ways. Tokens can be used as a means of payment, can be sent to ETH wallets, and can also be stored as savings using MonolithosDAO’s service called Savings Interest Rate (MCRSavingsRate).

All MCRs in circulation are secured by collateral. At the same time, the cost of collateral is always higher than the amount of debt in MCR. All MCR transactions are publicly viewable on the Ethereum network.

==MCR as a store of value ==

Since MCR is a stablecoin, it is designed to function as a store of value even in a volatile market.

==MCR as a medium of exchange ==

Stablecoin MCR can be used in any country in the world for any type of commercial transaction.

==MCR as a unit of account ==

The target MCR rate is 1 Russian ruble (1 MCR = 1 RUB). While MCR is not used as a standard measurement of value in the off-chain world, it functions as a unit of account within the MonolithosDAO platform and some blockchain dapps.

==MCR as a standard of deferred payment ==

MCR can also be used to settle debts within the MonolithosDAO platform (e.g., users use MCR to close vaults). This benefit separates MCR from other stablecoins.

==The MCR savings rate ==

There is a savings interest rate on the MonolithosDAO platform. It was introduced to enable MCR holders to earn money on savings in an automatic mode, blocking their MCRs on DSR contracts on the MonolithosDAO platform. When the MCR market price deviates from the standard due to market trends, the community can mitigate price volatility by voting to change the DSR accordingly:
* If the market price of MCR exceeds 1 Russian ruble, MDT holders may gradually decrease the DSR, which will reduce demand and should bring the market price of MCR towards the 1 RUB target price.
* If the market price of MCR is below 1 ruble, MDT holders can gradually increase the DSR, which will stimulate demand and should increase the market price of MCR towards the 1 RUB target price.

In general, MonolithosDAO sees its future in constant expansion by joining new members of the community.

[[Category:Decentralized]]
[[Category:Stable coin]]

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