The stablecoin issuer Circle has made a drastic decision by ditching U.S. treasury bonds to protect its stablecoin USDC. Circle believes that the inflation rate embedded within the fiat ecosystem might become a barrier causing the firm to fall apart. This indicates that there needs to be a transformation from the traditional monetary system toward the digital system with less centralized powers.
What is USDC?
USDC is a digital currency issued by Circle to act as a peg to the United States dollar. Every coin issued must be backed by assets such as Gold or fiat currencies. The coin facilitates transactions in the digital realm without the volatility of other cryptocurrencies.
Avorak Unaffected with Latest Blowups
Avorak is a new artificial intelligence project that has amazed investors worldwide. The project is still in its ICO stage but has gained a massive influx of investors. The native currency of the ecosystem is AVRK, which controls the ecosystem and acts as a tool for rewarding its users.
The maximum supply of AVRK is 40 million tokens and is meant to be distributed proportionally, as the whitepaper suggests. Inflationary periods are also essential periods that need to be reconsidered in a project, and Avorak has a solution whereby it has a burning mechanism (deflationary system) where 2% of the tokens are burnt.
The AI platform offers a feature for content creators to generate unique writing content. Avorak Write is the new tool integrated into the project that utilizes internet scraping methods and a pre-written language. This technique helps prevent plagiarism, unlike other chatbots that use only internet scraping methods, resulting in plagiarized work.
Bottom-line
Blockchain enthusiasts are starting to embrace AI cryptocurrencies like Avorak AI since it has the potential to ease cumbersome tasks. Using Avorak AI in image generation, content creation, and automated and fully functional trades will propel blockchain technology to the next level.
For more information on Avorak AI:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Photo by Kenny Eliason on Unsplash
