Kraken

What are Stablecoins?

The Beginner’s Guide


Ang mga Stablecoin ay uri ng cryptocurrency na naka-program na-program upang subaybayan ang halaga ng isa pang asset tulad ng mga pera ng gobyerno o ginto.

Maraming mga investor ang nagugustuhan ang mga stablecoin sapagkat nag-aalok ang mga ito ng kahusayan at transparency ng mga cryptocurrency, habang nagbibigay ng kaluwagan mula sa minsanang pabago-bago ng mga asset na ito. 

Gayunpaman, dapat tandaan ng mga trader at investor na hindi lahat ng stablecoin ay nilikha na pantay-pantay. 

Nagyong 2020, mayroong dalawang pangunahing klase ng mga stablecoin, ang mga fiat-collateralized na mga stablecoin at ang mga crypto-collateralized na stablecoin, na parehong magagamit sa mga palitan tulad ng Kraken. 

Gayunpaman, ang mga stablecoin ay may iba't ibang mga pagkakaiba-iba. May higit sa 200 na aktibong mga proyekto ng stablecoin, na kapag pinagsama ay nakakapag-proseso ng mas higit na volume kaysa sa Venmo, ang mobile peer-to-peer payment platform ng PayPal,

Hindi sigurado kung saan magsisimula upang matuto sa mga crypto asset na ito? Ipinapaliwanag namin sa ibaba kung paano gumagana ang mga stablecoin at kung bakit maaaring maging isang nakakahimok na karagdagan ang mga ito sa iyong crypto asset portfolio.

What are stablecoins


Why Do Stablecoins Have Value?

Sa pamamagitan ng pag-aalis ng pabago-bagong pangyayari na may kinalaman sa mga cryptocurrency, pinapayagan ng mga stablecoin ang mga investor na gumamit ng isa pang tool upang i-manage ang risk sa kanilang portfolio. 

Bukod pa rito, ang mga stablecoin ay maaaring mag-alok sa mga trader ng kakayahang bumili at magbenta mula sa isang mas malawak na pagpipilian ng mga trading pair, lahat nang walang mga paghihigpit ng tradisyonal na mga capital market na maaaring bukas lamang tuwing mga business hour kada mga araw na may trabaho.

Gayunpaman, nakikita ng ilang mga tagataguyod ang mga stablecoin na sa paglaon ay nagpapalawak ng mga serbisyong pampinansyal, na pinapayagan ang mga user na iwasan ang mga gatekeeper na maaaring hadlangan ang pag-access sa mga serbisyo sa global payment sa ngayon. 

Halimbawa, ang mga borrower ay maaaring maiwasan ang mga credit evaluation at napakamalah na mga fee ng mga institusyong pampinansyal at sa halip ay i-collateralize ang kanilang mga crypto holding gamit ang ilang mga uri ng stablecoin. 

Paano gumagana ang Stablecoins?


All stablecoins seek to mimic the price of another asset, but they don’t all accomplish this in the same way. This means that some stablecoins may be riskier than others and more prone to the price fluctuations they claim to provide safety from. 

Fiat-Collateralized Stablecoins

Fiat-collateralized stablecoins are cryptocurrencies backed 1-to-1 by an underlying government currency (like USD or EUR) stored in a traditional financial institution.  

This type of stablecoin was first introduced in 2014 when startup Tether Limited released USDT, a dollar-backed cryptocurrency designed to trade 24/7 on the global crypto market. As of 2020, Tether remains the most widely used stablecoin around the world.

Like USDT, fiat-collateralized stablecoins are generally managed by a central operator, who tracks their circulation and allows users to mint and redeem tokens in their custody. 

In some cases, these reserves are even regularly audited to ensure that the amount of tokens traded is equal to the reserves held by the firm.

Examples of fiat-collateralized stablecoins include USDT and USDC (pegged to the USD).

Crypto-Collateralized 

Crypto-collateralized stablecoins are collateralized by one or more cryptocurrencies.

These assets generally lack a central administrator, and instead rely on an open software to enable borrowers to lock crypto assets (thus collateralizing them) and generate new stablecoins in the form of loans.

To account for the volatility of the underlying cryptocurrency, these stablecoins are often over collateralized, meaning that the deposit amount required is typically a higher percentage than the value of the stablecoin. 

If borrowers wish to redeem their locked cryptocurrencies, they have to return the stablecoins to the protocol and pay a fee. 

Due to their design, the stablecoin supply cannot be altered by anyone in the network. Instead, contracts are programmed to respond to changes in the market price of the locked assets.

Examples of crypto-collateralized stablecoins include DAI, Havven, and BitUSD.

Algorithmic Stablecoins

Algorithmic stablecoins are digital assets that rely on smart contracts to regulate their stability. 

Rather than using deposits of cryptocurrencies or issuing and redeeming debt, the software behind algorithmic stablecoins programmatically adjusts the supply of the cryptocurrency as the demand for it fluctuates. 

If demand is high, the price of each stablecoin will exceed the intended peg, and the software will increase the supply. Alternatively, if demand is low, the supply will decrease. 

Examples of algorithmic stablecoins include Ampleforth and Yam.

Ano ang mga Stablecoin?


Users may be interested in purchasing stablecoins as they offer all the benefits of traditional cryptocurrencies, such efficiency and transparency, while protecting from price volatility. 

Further, like other cryptocurrencies, they are borderless, programmable and easy to transfer at low cost, offering a valuable alternative to traditional banking institutions. 

Kraken users can quickly transfer supported stablecoins DAI and USDT to their accounts and exchange them for other cryptocurrencies. 


Mga makabuluhang resource

Looking to learn what technologies help power stablecoins? Head on over to the “What is Blockchain Technology?” page located in Kraken’s Learn Center for a deeper dive. 


If you are interested in learning more about the different types of cryptocurrency, you can visit Kraken’s “Types of Cryptocurrency” page.

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