What Is Daily COP (DLYCOP)?
Daily COP (DLYCOP) claims to be a stable digital currency developed to facilitate peer-to-peer transactions utilizing the decentralized Polygon (Matic) network. As per the whitepaper, this technology aims to permit transactions to be performed without the involvement of central banks or financial entities, enabling traders' independent control of their assets. The Daily COP claims that the usability, transactionality, and liquidity of the Colombian peso seeks to permit the structure to be scalable and the platforms to be interactive with the blockchain; this is intended to create an autonomous trading ecosystem.
The exchange price between other cryptocurrencies and Daily COP aims to be governed underneath a hybrid system, which mixes synthetics where they let openness to price action, therefore avoiding mediation between pairs and its devaluation. Currently, the Daily COP platform claims to hold 170,000 traders.
Three properties seek to make DLYCOP similar to currency:
Reserve of value: A reserve of value means that the asset carries its value without devaluing instantly or over the long term. The sole thing that influences the asset is inflation and deflation with the national currency.
Exchange medium: A medium of exchange denotes a value standard and is used to enable the trade of goods or services. DAILY is mainly utilized for the Colombian market but can also be exchanged globally.
Unit of account: A unit of account is a systematic measure of value utilized to price goods and services. Currently, 1 DAILY holds a value of 1 COP.
DLYCOP token is native to the Daily COP platform. A growing token supply aims to create incentives for more investment and consumption within the network and lead to higher value and productivity in that economy over the long run. The token creation is annual with a fixed rate; however, the governance community votes to decide if the model is appropriate.
