3

I have seen various projects linking tokens to Fiat currency to maintain some stability. This link has some commentary - https://themerkle.com/what-is-a-pegged-cryptocurrency/.

For ERC20 has anyone any idea how this can done?

Improve this question
1
  • Did you find a way to do this? If yes, could you share how you did it.
    – yetanotherse
    Commented Dec 23, 2017 at 11:28

1 Answer 1

Reset to default
1

For our presale at Etherparty, we peg our tokens at $0.10 each, and accept ETH for the sale. How we did it: record the price of Ether from the Coinmarketcap api at the time of your transaction initiation, and then can calculate the dollar value of the Ethereum sent from that. You can then send back the appropriate amount of tokens.

Improve this answer
5
  • 1
    But how do you ensure stability? If ETH/USD moved a lot, then what happens? It means you have to issue more tokens? When you issue more then the reverse affect can happen, that existing token holders can lose money. I am unsure how that method will work. It seems to me you will just issue more and more tokens to stop losses and then the tokens will be worth less and less over time.
    – Trevor Lee Oakley
    Commented Aug 21, 2017 at 7:20
  • The coin is worth 10 cent on our platform. It doesn't matter about stability, we force the stability by saying it is worth 10 cents. We don't just issue more, we have an ICO with a specific amount, as written in the whitepaper. No bonus tokens are issued.
    – diabetesjones
    Commented Aug 21, 2017 at 17:22
  • The token has some meaning in the actual project so there has to be a balance between fiat and project market dynamics. I am unsure how your proposal would work.
    – Trevor Lee Oakley
    Commented Aug 22, 2017 at 6:42
  • @diabetesjones Did all this happen via a contract or were you collecting buys via a front-end and then manually sending tokens to buyers? edit: also, amazing handle.
    – EvilJordan
    Commented Mar 20, 2018 at 2:37
  • How did you go about setting up the front end? and how did you send the tokens? Just have buyers send ETH to a contract and then look at the emitted logging events to see who bought how much, and at what price? and then put all that in a function to transfer the amounts to specific addresses?
    – John Murphy
    Commented Apr 27, 2018 at 9:30

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.