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Recast1

Recast1

Recast1 is a “non-fiat oriented stablecoin” that is not indexed to global fiat currencies and aims to maintain price stability.

To maintain price stability, it uses the fluctuations of numbers of users, user transfers, staked users, and staked amounts. Recast1 Coin will be stabilized by these four factors which can only be determined by the users. Since it is fully decentralized, it is a "non-fiat oriented stablecoin".

R1 embraces the feature of transparency of Bitcoin and ensures stability for trading operations

only where users define it.

Recast1 holders do not pay commissions. On the contrary, they get coins because Recast1 regards the users who transfer their coins as the most valuable users of the R1. In other words, the one who transfers R1-Coin earns R1-Coin.

Because R1-Coin gains a fee to the users who transfer, it has an unlimited supply. (However, it is annually limited by inflation.) The unlimited supply feature of R1 provides ease of use such as Ethereum and Doge coins.

The most-traded currencies both in the real economy and the crypto markets are not products of their users. The first is Dollar produced by the FED, and the second is USDT produced by the tether. However, the R1-Coin network structure is designed in such a way that R1-Coins can only be produced by users' transfers and stakes. Since R1-Coin production is in control of users only and it is a "non-fiat oriented stablecoin", it has a fully decentralized structure.

The main point of Recast1 is to focus on users rather than price movements unlike other stablecoins and algorithmic stablecoins. It is aimed to create a user-friendly system by eliminating the annual loss percentage and the high fees that users who transfer every day/hour have to pay. Under the current circumstances, The Central Banks are aware that they need to control inflation expectations to reduce the high inflation rates. On the other hand, stablecoins and algorithmic stablecoins are purely price-driven rather than focused on

expectations. Price stabilization is established by the price that users reach a consensus on.

In other words, price stabilization requires a certain user base and an agreed price, as in Bitcoin. The agreed price is determined by the predictions of the users who transact or transfer on what will happen in the next hour or day. As a result, price movements will depend on the user expectations, the number of users, and the quantity supplied.

There is no burning in Doge and BTC. ETH, BNB, LUNA etc. Nets light up at certain times, but each net gives a certain inflation of supply each year. The problem is not supply inflation, but balancing this inflation with demand. Recast1 is demand that creates supply, so if R1 is not used, supply will not increase and this is what sets R1 apart from other coins. With users getting instantly paid and not having to pay an accounting fee unlike other cryptocurrencies, the transfer rewarding algorithm is innovative, useful and advantageous.

Timeline

Further reading

Title
Author
Link
Type
Date

overview for recast1org

Web

June 9, 2021

Recast1 Coin (@recast1org) | Twitter

Recast1 Coin

Web

June 11, 2021

Recast1 Coin | Chat

Web

Documentaries, videos and podcasts

Title
Date
Link

What is Recast1 Coin ?

June 14, 2021

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