Dollar On ChainPrice

(DOC)

Dollar On Chain (DOC) is a crypto/Web3 project that functions as a stablecoin. It is designed to maintain a value pegged to the US dollar. This peg is achieved through a smart contract mechanism. A distinctive feature of DOC is its collateralization. Unlike many other stablecoins, DOC is 100% backed by Bitcoin. This means its value does not rely on traditional fiat currencies or bank reserves, aiming to reduce fiat-related risks and central points of failure. The DOC stablecoin operates on the Rootstock (RSK) network, which is a Bitcoin sidechain. The Rootstock network enables smart contract capabilities while inheriting the security of Bitcoin. DOC is a core component of the Money On Chain protocol, a trust-minimized framework built to offer various services for Bitcoin users. Within this ecosystem, DOC allows users to hold the value of their Bitcoin in US dollar terms, providing stability and mitigating the volatility typically associated with Bitcoin. Holders of DOC tokens have the ability to redeem them for smart bitcoins (rBTC) at an equivalent value to one US dollar. The project emphasizes its non-custodial and censorship-resistant nature, with collateral held in smart contracts rather than bank accounts. DOC tokens are versatile for Web3 users, as they can be easily transferred and stored in various compatible wallets, including hardware wallets and popular Web3 wallets like Metamask. They can also be exchanged on decentralized platforms such as Money On Chain's own exchange, TEX, and other secondary markets. Minting DOC can be done directly through the Money On Chain decentralized application (dApp). The Money On Chain protocol employs a risk-sharing model, where another token, BPRO, helps absorb Bitcoin's volatility to maintain DOC's stability, and is designed to avoid liquidations. Learn more

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