Roxe Chain Foundation Announces DO, First Algorithmic Central Bank Stablecoin Native to a Decentralized Economy

SINGAPORE–(BUSINESS WIRE)–Roxe Chain Foundation Limited (“RCF”), a Singapore non-profit that owns and operates the Roxe Chain blockchain, today announced its plans to debut DO (pronounced “dough”), the world’s first algorithmic central bank stablecoin native to a fully decentralized economy, and the Roxe Payments Protocol. DO is an algo stablecoin with no fiat attribute that is designed to solve the intermediate currency problem in cross-border payments and operates on the new Roxe Payments Protocol (“RPP”). Enabled by the Daollar protocol, the DO family of stablecoins is designed to provide better price stability than existing fiat and digital asset-backed stablecoins.

While many fiat and digital asset-backed stablecoins on the market today use blockchain technology, none are a completely decentralized, algorithmic stablecoin based on a central bank model. For example, USDC is a stablecoin backed by the U.S. dollar, a centralized asset, and DAI is a stablecoin collateralized by assets from

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Roxe Chain Foundation Announces DO, First Algorithmic Central Bank Stablecoin Native to a Decentralized Economy – Press Release

SINGAPORE–(Business Wire)–Roxe Chain Foundation Limited (“RCF”), a Singapore non-profit that owns and operates the Roxe Chain blockchain, today announced its plans to debut DO (pronounced “dough”), the world’s first algorithmic central bank stablecoin native to a fully decentralized economy, and the Roxe Payments Protocol. DO is an algo stablecoin with no fiat attribute that is designed to solve the intermediate currency problem in cross-border payments and operates on the new Roxe Payments Protocol (“RPP”). Enabled by the Daollar protocol, the DO family of stablecoins is designed to provide better price stability than existing fiat and digital asset-backed stablecoins.

While many fiat and digital asset-backed stablecoins on the market today use blockchain technology, none are a completely decentralized, algorithmic stablecoin based on a central bank model. For example, USDC is a stablecoin backed by the U.S. dollar, a centralized asset, and DAI is a stablecoin collateralized by assets from other systems.

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Marico Innovation Foundation Awards ceremony to be held online this week

Marico Innovation Foundation (MIF), the not-for-profit arm of FMCG giant Marico, is hosting its biannual Innovation for India Awards ceremony entirely online this week. Since its inception in 2003, MIF has launched several catalytic initiatives to help Indian innovators in the broader ecosystem.

The event was to be held on March 17 this year, but was postponed due to the pandemic and has been shifted entirely online. It will be held this week on October 9, from 5-6:30 pm (see registration link here). See also our coverage of the 2018 edition, interview with MIF head Priya Kapadia, and Innovate to Cultivate agri-initiative.

Since 2006, more than 60 organisations have won awards in categories of startup, business, social, global gamechanger, public services, and innovation in the business model, process or product (see Table 1). Winners have included startup founders, social entrepreneurs, business giants, and even government agencies.

MIF is expecting

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