CryptoPeso (PHPc) is a stablecoin backed by Philippine Peso (PHP) with a unique feature. It is unlike traditional cryptoassets whose values depend on the exchanges which makes them too volatile and risky. PHPc is based on a unique concept whose value does not depend on crypto exchanges. PHPc is formulated on a dynamically increasing valuation since the price is congruent to the amount of PHP backing it up, which is incremented by each transaction in the network, thereby making the value of PHPc incremental as well.
PHPc has a consistent valuation of 1 PHPc ≥ 1 PHP . Which means, unlike other stablecoins that are pegged at 1:1 with fiat currency, the value of 1 PHPc can never be lower than 1 PHP but its value will always be greater than, if not equal to, 1 PHP. Still, its value can go higher over time, but never below 1 PHP. We can achieve this by ensuring the amount of PHPc in circulation will always be less than or equal to the amount of PHP backing it up. There can never be more PHPc than the PHP, that could drag the value of 1 PHPc less than 1 PHP.
This gives PHPc two distinct advantages and can solve the problems cryptocurrencies are facing today. First, PHPc is great for micropayments and safe for merchants to accept since they are guaranteed that PHPc will never devalue, and they can convert it to PHP anytime they want.
Secondly, PHPc can work like a bank account with no promise of interest rates but with incremental value over time. Unlike time deposits in banks that you can not withdraw to receive interest in a span of several months, with PHPc you can withdraw it anytime you want and still receive the same potentially increasing value if you just keep your PHPc in your wallet.
If you want to learn more about this project, visit https://cryptopeso.ph
Since we are not a typical and speculative token, and we don’t earn from selling tokens too, you can support our project by leasing to our waves node at this address: 3PPPPP4sBjZwvDnPq61cCbD5MTk8471Q2so (alias: blockxperts.dev). We pay out daily or once we mine new blocks.
