AS Digital Dollar price

ASDD

AS Digital Dollar (ASDD) is a stablecoin designed to maintain a 1:1 peg with the US Dollar, operating on the BNB Smart Chain (BSC). It aims to provide a stable digital currency for decentralized finance (DeFi) and broader financial applications by combining the stability of fiat currency with blockchain technology.

AS Digital Dollar (ASDD) token is built on the BNB Smart Chain (BSC), an Ethereum Virtual Machine (EVM) compatible blockchain. BSC offers high transaction speeds and low fees, making it suitable for frequent transactions within DeFi and everyday financial activities. ASDD adheres to the BEP-20 token standard, ensuring compatibility with existing wallets, exchanges, and smart contracts on BSC. Its smart contract includes standard functions for transfers, alongside controlled mint and burn functions. New ASDD tokens are minted when an equivalent amount of USD is deposited into a reserve, and tokens are burned upon redemption for USD, maintaining the 1:1 peg. The smart contract is designed with a multi-signature administration model, requiring multiple authorized signatures for critical functions, to mitigate risks associated with unilateral control. Planned security audits by third-party auditors are intended to identify and address potential vulnerabilities.

The project emphasizes full collateralization, meaning every ASDD token in circulation is backed by one US Dollar held in reserve. These reserves are maintained in secure custodial accounts with regulated financial institutions, primarily in highly liquid, low-risk assets such as cash or cash equivalents. Transparency in reserve management is a core principle, with plans for monthly attestation reports from an independent accounting firm to verify reserve coverage. These attestations will be publicly available. Additionally, ASDDigital Dollar (ASDD) token intends to provide near real-time transparency through an online proof-of-reserves dashboard, potentially utilizing blockchain oracles and API feeds to display up-to-date reserve balances and ASDD token supply.

AS Digital Dollar (ASDD) token is committed to regulatory compliance, adhering to applicable legal frameworks in Indonesia and other jurisdictions where it may circulate. In Indonesia, activities are overseen by bodies such as BAPPEBTI. A Know-Your-Customer (KYC) and Anti-Money Laundering (AML) policy is enforced for participants directly involved in the issuance and redemption processes of ASDD tokens, requiring identity verification and risk assessments for large-scale conversions between ASDD and USD. This policy aims to prevent illicit use of the stablecoin and ensures alignment with financial regulations. The project prioritizes partnerships with regulated and licensed entities, such as crypto exchanges registered with BAPPEBTI, to maintain a compliant environment for ASDD circulation.

ASDD is designed for a range of financial applications, including lending and borrowing on DeFi platforms, providing liquidity in decentralized exchanges (DEXs), and participating in yield farming strategies. Its stability is intended to reduce liquidation risks and offer predictable interest rates in DeFi protocols. As a USD-pegged token, ASDD can also serve as a base currency for trading various tokens on DEXs within the BNB Smart Chain (BSC) ecosystem. The project explores leveraging cross-chain bridge solutions to extend ASDD's availability to other blockchains, enhancing its interoperability across the multi-chain DeFi landscape. Beyond DeFi, ASDD aims to facilitate remittances and cross-border payments by offering a fast and cost-effective channel for global value transfer. It is also positioned as a stable unit of account and medium of exchange for merchants pricing goods and services, and for individuals in areas with currency instability. For treasury management and savings, ASDD can act as a safe haven asset during market volatility or for long-term wealth preservation. The project also addresses financial inclusion by providing access to digital financial services for unbanked or underbanked populations, requiring only an internet connection and a mobile device.

The development roadmap for AS Digital Dollar (ASDD) token outlines a phased approach, starting with core development and internal testing, followed by security audits and compliance setup. A pilot launch is planned to test performance in a real market environment before a full public launch and exchange listings. Subsequent phases focus on deeper DeFi integration, ecosystem expansion, and ongoing growth and innovation, including research into CBDC interoperability and potential yield-bearing versions of ASDD. The project is led by an experienced team in the blockchain industry, with expertise in web3 projects.