Decentralized Privacy Stablecoin Production Tool — POFID-DAO

POFID is a trusted digital asset conversion channel that maps real assets into quantifiable digital asset on the chain through smart contract technology and strong privacy protection controls.

POFID stands for: Privacy-Oriented Financial Instrument Distribution Framework & DAO, i.e. to provide a trusted decentralized financial asset management platform with privacy protection, POFID-DAO refers to the platform’s decentralized governance framework organization.

In some more complex business applications, users may need to have a fully trusted third party audit of all transactions they send. For auditing, users can make their own choices and decide whether to give a third-party permission tracking key to track specific transaction-related information to facilitate auditing permissions. The POFID team officially used this feature to solve 50% of the company’s concerns about privacy-related regulations.

POFID not only solves the problem of transparency of decentralized stablecoins represented by DAI, but also satisfies the complexity of business applications, realizes privacy data protection/anonymous payment, and also solves the problem that decentralized stablecoins rely too much on Ethereum, compared with Maker DAO, POFID has stronger usability and extensiveness. It can be said it’s an attempt of global financial trade and currency reform! Any organization wishing to use cryptocurrency as a universal stable currency can use POFID to build its own currency system and issue anonymous stablecoin. Its flexible mechanism settings also provide guarantee for the operation of the currency system. Simply put, the POFID platform itself does not issue anonymous stablecoins, but only provides governance solutions for anonymous stablecoin issuers.

From the user’s perspective, the governance mechanism of POFID DAO is very simple-the PFID platform token is not only a kind of revenue maker, but also a gateway to governance authority, and it is also a global universal asset by default on the platform. It can be said that PFID holders control the operation of the system.

1. You can use PFID and participate in staking to obtain PFID mining income;

2. You can participate in PFID’s staking and participate in platform governance decisions;

3. You can also obtain the revenue income of the entire POFID by staking PFID, such as the fee income generated when you get a loan.

PFID Token Allocation

PFID Token Allocation
Operating Mechanism of POFID DAO

First of all, we need to know concept of DMW (Decentralized Mortgage Warehouse): Decentralized Mortgage Warehouse, which is the core smart contract of POFID DAO and is responsible for escrowing collateral. By collateralized digital assets, you can borrow anonymous stablecoins pegged to multiple currencies, you can mortgage any kind of digital assets recognized by the POFID platform, such as BTC, ETH, etc.

Pledge Digital Assets in exchange for Stablecoins: Users will put their digital assets into DMW contracts, obtain stablecoins, and pay stablecoins as a handling fee.

Withdraw/Unlock Pledged Digital Assets: The user deposits the stablecoin into the DMW smart contract to withdraw the locked digital assets.

When users borrow anonymous stablecoins, the platform will deduct the corresponding handling fee (2%). This portion of the handling fee collected will be divided into two, one part for user (staking) rewards and the other part for burn. As more people use anonymous stablecoins, there will be more and more fees, more PFID are burned, and PFID will become more valuable. In this sense, POFID can be regarded as based on a deflation economic system, and PFID holders benefit from the widespread use of anonymous stable currencies, as well as from their own growth in value.

Value Watcher (VM: Value Watcher), is a smart contract library built by risk control managers to monitor and warn the value of pledged asset types in DMW on the POFID platform. The price of stablecoins and the price of fiat currencies are basically pegged, but the price of digital assets changes constantly. If it goes up, everything is good. If it goes down, what should I do? If it falls to a certain range, who will guarantee that the price of the stablecoin will still be pegged to the fiat currency? This requires an institution to ensure that the excessive risks in the system are cleared. In order to maintain high-quality high-mortgage assets to maintain a stablecoin ecosystem, this institution cannot be a human, but must be completed by a ruthless and rational smart contract, i.e., a value guard contract.

When collateralizing, the system will display the mortgage rate, liquidation rate and fee rate of stable currency, enter the amount of the loan, the system will automatically calculate the number of digital assets that need to be pledged, and the fee to be paid. When the digital asset pledged by itself falls below the minimum liquidation price of the system, the system will automatically sell the pledged asset to compensate for the unhealthy ecosystem caused by the devaluation of the pledged asset.

POFID DAO will be a guarantee for the global use of blockchain technology. Any business application based on blockchain technology requires currency denominated with lower volatility rather than a currency denominated with daily 10–20% volatility.

Connect with POFID via official channels:

POFID Website: https://pofid.com/

Twitter: https://twitter.com/pofiddao

Facebook: https://www.facebook.com/pofiddao/

Telegram: https://t.me/pofid

Reddit: https://www.reddit.com/user/pofiddao

Medium: https://medium.com/@pofiddao

YouTube Channel: https://www.youtube.com/channel/UCXD6E6W9pthg-VyQ2rk9YtQ

POFID DAO is a technology and governance framework based on Blockchain technology for the issuance and management of stable cryptographic and stable currencies.