Frankencoin

Zippy now offers Frankencoin (ZCHF). Buy and sell Frankencoin with Zippy and keep your assets in a secure currency.

In addition to the integration of Frankencoin, the FPS (Frankencoin pool share) and WalletConnect are integrated. With that the users can buy Frankencoin from DFX and invest in FPS on the Frankencoin.com dApp.

In a future development step, Zippy would like to offer the direct purchase of Frankencoin and FPS in the app itself. Furthermore, we want to offer the swap of ETH to ZCHF and for a cost-effective use of Frankencoin a layer 2 solution.

It is a stable coin that maintains its value equal to the Swiss Franc without relying on oracles, distinguished by its decentralization and adaptability.

Unlike many other stablecoins that work with collateral, Frankencoin uses an auction system to sell this collateral without depending on external price data. The system is quite flexible because it can use almost any type of collateral available on the market. However, it takes a bit longer for it to sell such collateral compared to other stablecoins. Therefore, the system might not be well-suited for collateral whose value is highly volatile.

Imagine it like a bank without a counter, where everyone can do things themselves. You deposit something valuable, like a house at a regular bank, and get new Frankencoins in return. All the valuables together then secure the value of the coins. Just like transferring money at the bank, you can also exchange the new coins here. To prevent endless creation of new coins and to keep everything stable, there’s a kind of common reserve, similar to the equity of a bank. But unlike a bank, there’s no boss who decides everything. Instead, everyone can have a say in creating new coins as long as they hold enough shares in the reserve.

FPS are essentially shares of Frankencoin. The value of your share increases when the system makes money (through fees or solving problems) and decreases when it loses money. You can buy FPS at any time, but to sell them again, you must hold them for at least 3 months. The longer you hold them without trading, the more voting rights you get. If you have enough votes (at least 3% of the total amount), you can even reject proposals to create new coins. With FPS, you can thus participate in the success of the system and have a say in its future.