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Project IRDT
IRDT: A Novel Project for the World of Decentralized Finance
IRDT is a DeFi project that aims to provide the benefits of the decentralized finance to more people in the world by offering a versatile package of financial innovations. At the heart of this project is a new stablecoin named IRDT. The value of this token is pegged to Iranian Toman and each IRDT would be equal to 1000 Tomans. In the initial phase of the project, each token of IRDT would be backed by 1000 Tomans reserved in a trusted bank. In the next phases a basket of coins and fiat currencies would be used as backing for the token. One of the unique features of IRDT is the ability to pay chain fees (like ETH and BNB) by IRDT tokens. This technology is described in the document in details. Initially, the stability of the token would be assured with a semi-centralized mechanism including manual intervention of the board and also by the help of the AI bots developed to buy/sell the token on various DeFi platforms. After the Initial phase, IRDT governance will move toward a decentralized autonomous organization (DAO) where all the adopters can contribute in the decision making for the smart contract.
The next phases will start soon after successful launch of IRDT stablecoin. Generally, the project consists of 4 phases including: publishing IRDT stablecoin smart contract on Ethereum and Binance Smart Chain (BSC) networks, diversifying the collateralization basket, implementing the DeFi platform and at the end, transforming the platform into an under-collateralized lending platform with Proof of Personhood (PoP) technology.
IRDT foundation is loyal to open-source movement and everybody can check and scrutinize the smart contract on the web.
Last modified 7mo ago
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