The first stablecoin SATO (“SATO”) that adopts the AMPL algorithm + liquidity pool launching is with iCashRewards

iCashRewards is pleased to announce that it is entering into strategic partnership with SATO, the next generation of Stablecoin.

iCashRewards is very happy to apply SATO to the iCashRewards ecosystem that combines the utility token (“iCashToken”) with the rewards of a loyalty point that rebates customers for use of iCashRewards eCommerce shopping platform and services . iCashToken is planning to merge with SATO. Each user from iCashRewards can redeem their iCash Loyalty points ( iCashPoints) with Sato. One iCashToken can be exchanged with 1 SATO. Each SATO is priced at US$1.00, and the exchange will be effective from March 31 to April 15, 2021. Going forward, iCashPoints can redeem SATO as well as cash, USDT, and BTC. SATO is planning to list on various exchanges on April 14, 2021.

Background

The crypto industry has seen the rise of various Stablecoins in the last few years. These Stablecoins have been built in different ways.

USDC, HUSD, TrueUSD are backed by fiat USD

DAI, Frax, OUSD are collateral based

SATO is a Stablecoin that is neither fiat backed or collateral based. It is purely algorithmic and relies on market forces of supply and demand to maintain its price.

Current Status of Stablecoin Market:

Compared with many DeFi projects that attract users to speculate simply by relying on high mining returns, the future application scenarios of algorithmic stablecoins have more room for imagination. Currently, the entire algorithmic stablecoin market is still in a stage where its value is heavily underestimated, which is similar to the collateralized stablecoins such as MakerDao in early 2019. It is expected that the market will break out.

AMPL, Basis Cash, ESD, Frax

At present, the market value of DeFi is growing rapidly and there are countless projects. However, there are still no more than ten products that are available for use in the algorithmic stablecoin market. The well-known algorithmic stablecoins include AMPL, Basic Cash, ESD and Frax. Among them, only the prices of AMPL and Frax can be maintained around 1 USD. Although AMPL’s algorithm has been modified several times by latecomers, it is still in the leading position of algorithmic stablecoins, which is similar to the position of PoW in the main chain. Therefore, the current single currency inflation & deflation model (rebase) of AMPL has been tested by the market.

What is $SATO?

SATO is a next generation algorithmic stable coin. SATO relies on the invisible market forces of supply and demand to maintain its price stability.

USD and collateral backed Stablecoins have various flaws and are not suited to the crypto ecosystem.

USD backed Stablecoins rely on the broken monetary infrastructure of central banks to provide stability. As a result, the Stablecoin’s stability is derived from the backed currency itself. Similarly, collateral backed Stablecoins use other Stablecoins with USD backed collateral. Thus, the underlying system is still reliant on the flaws of USD backed Stablecoins.

SATO doesn’t rely on any centralized fiat currency such as USD. It can maintain its price stability algorithmically via smart contracts.

“ We are very excited to see the users from iCashRewards have the ability to redeem the first DeFi revolutionary stablecoin SATO (“SATO”) and a Roadman subsidiary will mine the SATO through the SATO’s liquidity pool once it is opened. We like the name “SATO” as it is an inspiration from Satoshi Nakamoto, a name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin’s original reference implementation. ” states Fanny Travis, Managing Director of iCashRewards.

Reference: https://docs.sato.trade/

Link: https://ca.movies.yahoo.com/roadman-announces-first-stablecoin-sato-203000960.html

About iCashRewards

iCashRewards, (“iCash”), a next-generation social e-commerce video marketing and reward platform. iCashRewards is a leading provider of on-line and virtual reality shopping experiences, connecting merchants and consumers across the globe. iCashRewards is reinventing marketing using blockchain technology for loyalty rewards to disrupt traditional loyalty industries and continuously innovate in the digital marketing industry. iCashRewards is a web and mobile plug-in that gives online shoppers rewards in the form of cash back, SATO, BTC or USDT. There are over 150 brands through its portal www.iCashRewards.io. Sign up to iCashRewards.io today to receive 100 loyalty points and SATO.

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