Tether’s competition, unlike its value, is growing rapidly.
Another stablecoin is in the market and just like every other stable coin contender in the sphere, has promised a stable ratio to the investors. A well-thought project, cryptocurrency ROCKZ, has been announced by a Swiss company Alprockz AG.
ROCKZ is a different stablecoin in the sense that it is pegged to Swiss Franc, the famed fiat currency that is considered the most stable currency in the world. The Swiss Franc, influenced by the notorious demand for Switzerland’s services as a confidential offshore holding area for private funds has been highly favored by investors. It has also been giving shoulder to dollar and euro at the time of economic black outs.
With a 1:1 ratio with Swiss Franc, the company has planned to convert 90% of their funds to CHF and the remaining 10% will be held in different banks that will help with the liquidity of the new currency.
A separate trading platform has also been announced by the company that is still undergoing internal testings and is soon to be open to the world.
The company’s initial plan is to issue 175 million APZ utility tokens and sell 15 percent of the maximum supply during the Initial Coin Offering, which will be launched before 2018’s sundown. The value of each token during the public sale has been set at 0.6 CHF.
‘It’s time to create a truly reliable and stable cryptocurrency that will become a solid bridge between the traditional and digital economies. That’s the reason we created ROCKZ.’ ROCKZ Founder Yassine Ben Hamida
Also, ROCKZ is prepared to exploit Tether’s flaws. The company has announced monthly audits be independent auditors to ensure complete transparency.
The ICO is planned in the opening weeks of January of 2019 and if ROCKZ keeps the promises, the boundaries are non-existent.