Hedging Volatility of Cryptocurrency Prices with Stable Coins
Augmint co-founder Péter Petrovics will give a demo of Augmint during Bitcoin Wednesday on 5 February, 2020. Augmint is a stable coin that is targeted to the value of the euro. The value parity is maintained by a decentralized loan origination system built with smart contracts. The system issues loans, accepts collateral and pays interest in a way that automatically adjusts to shifts in supply and demand in order to balance the value of Augmint tokens against the value of the euro. Augmint tokens can be purchased directly with Bitcoin or Ethereum on a decentralized exchange. Péter’s talk will show how to use Augmint’s crypto-backed loans to reduce the risk of Ethereum investments.
Péter Petrovics is a developer and system architect from Hungary who launched iWiW, the country’s number one social network, in 2002 before Facebook, MySpace and Friendster. Between 2008 and 2014 he founded a Hungarian peer-to-peer social lending website called Nobu. In 2010 he moved to London where he led digital transformation programs for Thoughtworks with clients such as Bank of America, Gucci, Nokia and Springer.
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