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I want to store the money in a smart contract from my user as long the user wants and pay back the user once he asks i will not charge for this service

if I store ether in it and the value of Ethereum goes down I need to pay the user from my pocket

So I thought of creating my token and made that token value like 1 myToken=1$ i store that token in my smart contract and whenever he asks for that money will do myToken*1$

is it possible to make a token that values never changes? it could be a user from India pays me inr 7000 and i store equivalent myToken

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You could use a stablecoin pegged on the Dollar value to do that. Those coins are supposed to have a "fixed" value of 1 Dollar (which actually slightly value around 1 Dollar). You can then trade those coins in your smart contract for your own token.

However, it also comports some risks as a stablecoin value can crash for various reasons, as it has happened with some of them in the past. What you could do to mitigate risks is using a mix of different stablecoins for exemple.

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  • can i make a coin non valuable and non-tradable? Nov 30, 2023 at 16:35

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