Details about PolyQuity Dollar cryptocurrency
€171
1,880
0
Unknown
https://app.polyquity.org/
@polyquity_org
PolyQuity Dollar price charts
PYD exchanges
PolyQuity Dollar, the crypto
PolyQuity Dollar (PYD) is a decentralized stablecoin, created on the Polygon network, whose value is pegged to that of the US dollar. It is part of the PolyQuity ecosystem, which also includes a lending platform and governance token.
The point
The main point of PolyQuity Dollar (PYD) is to provide users on the Polygon network with a stablecoin that can be used as a reliable store of value and medium of exchange. This is accomplished through the use of a collateralized debt position (CDP) system, which allows users to lock up collateral in exchange for PYD tokens.
The problem
PolyQuity Dollar (PYD) aims to solve the volatility problem that is inherent in most cryptocurrencies. By creating a stablecoin that is pegged to the value of the US dollar, PYD provides users with a way to transact in cryptocurrency without having to worry about the price fluctuations that are common in the market. Additionally, the use of a CDP system helps to mitigate the risk of volatility by allowing users to lock up collateral to back their PYD holdings.
Compare PYD and BTC performance
| Timeframe | PYD | BTC |
|---|---|---|
| 1h change | 0 % | -0.234911 % |
| 24h change | 0 % | 1.25967 % |
| 7 day change | 0 % | -1.44157 % |
| 14 day change | -0.25 % | -9.47799 % |
| 30 day change | 0.67 % | -7.33786 % |
| 200 day change | 0 % | 129.168 % |
| Year change | 2.47 % | 129.33 % |