USDtezPrice

(USDTZ)

USDtez is a stablecoin on the Tezos blockchain, designed to mirror the value of the United States Dollar. Each unit aims for a 1:1 equivalence with one US dollar, providing a stable digital asset. It holds the distinction of being the inaugural USD stablecoin and the first FIAT-backed stablecoin introduced on the Tezos network. This makes it a foundational stable asset within the Tezos ecosystem.

USDtez achieves its 1:1 stability through a model of full reserves and complete convertibility. Its reserves are rigorously audited each month by Armanino LLP, ensuring transparency and reliability. Users can also view its collateral reserve in real-time. Unlike algorithmic stablecoins, USDtez is fully backed by real-world assets, which guarantees its solvency and allows for redemption at its equivalent USD value at all times.

USDtez is secured by being fully backed by a reserve of USD, which establishes a robust foundation for its stability. The project employs a multi-signature process for asset custody, preventing any single individual from accessing the collateral funds. This custody mechanism is governed by Gnosis-safe, an industry-standard solution for securing digital assets. The integrity of this process is further attested monthly by Armanino LLP through independent audits.

USDtez serves as a vital stable medium of exchange within the Tezos network, enabling users to mitigate against cryptocurrency market volatility. It facilitates predictable and stable transactions, making it suitable for various financial activities. Its applications include investment, trading, and as a method for paying for goods and services where accepted. Being an on-chain asset, USDtez also functions as programmable money, supporting diverse ecosystem applications, particularly where remittances are executed through smart-contract-driven conditions.

No, there are no stability fees associated with USDtez. This is because USDtez operates on a model of full solvency, being entirely backed by FIAT-based reserves. This design means that users can hold or transact with USDtez without incurring additional fees typically found with some stablecoin models that rely on interest or other mechanisms to maintain their peg.

USDtez can be obtained by exchanging other cryptocurrencies for it on platforms such as LBank. It may also be acquired using fiat payment methods, including debit cards, credit cards, or bank transfers, on supported platforms. While some major exchanges may not offer direct fiat purchases for USDTZ, users can typically acquire it through LBank, other reputable centralized exchanges, various crypto wallets, or decentralized exchanges. Opportunities to earn USDTZ through activities like invites or airdrops may also exist.