Frequently Asked Questions
We collected into this exhaustive list the most frequent questions we’ve been asked, if you have further questions do not hesitate to contact us and we will add your question to the list.
Q: What is Money on Chain?
A: Our ecosystem of products harnesses Bitcoin volatility with a trustless token system and the first Bitcoin-collateralized stablecoin. Our target three Bitcoin users based on their appetite for risk:
- A Bitcoin-collateralized stablecoin: for those who desire more stability,
- A product for Bitcoin holders: for those who wish to earn a passive income in Bitcoin and can bear some risk on their Bitcoin position
- A Bitcoin decentralized derivatives exchange: for those seeking to maximize earnings on leverage on a derivatives exchange market
We also offer a fourth feature: a decentralized token exchange, to trade any tokens on the RSK Blockchain.
Q: What are Money on Chain’s core values?
A: Our platform that inherits the primary values of Bitcoin: it is decentralized, resistant to censorship, and free of counterparty risk.
Q: What is a stablecoin?
Q: What is Money on Chain’s stablecoin called?
Q: What does it mean to be a Bitcoin-collateralized stablecoin?
Q: What assets are involved in the architecture of the Money on Chain system?
A: Money on Chain is based on three tokens:
- The MoC token, that will be designed to govern the decentralized autonomous organization (DAO)
- The DoC token to be pegged stably to the US dollar by transferring volatility to the BitPRO token
- The BitPRO (BPro) token, which is a risk-prospense token for Bitcoin holders that will provide leverage for traders in return for a passive income.
Q: Is there a whitepaper for Money on Chain?
A: We have a publicly available whitepaper that you can download at the whitepaper page.
Q: Does Money on Chain use the Bitcoin blockchain?
A: No, although we would like it to. Current versions of the Bitcoin blockchain unfortunately don’t support all the features required to run Money on Chain directly, so we have opted to use a different blockchain.
Q: Which blockchain does Money on Chain use?
A: We use the RSK Network, the only network that provides Turing-complete smart contracts for Bitcoin.
Q: How does Money on Chain’s architecture work?
A: Money on Chain’s architecture is based on a set of smart contracts. These contracts serve several purposes: platform governance, stablecoin, decentralized bitcoin leveraged exchange and a decentralized token exchange.
Q: How can Money on Chain be collateralized by Bitcoin if it doesn’t run on Bitcoin?
A: RSK works as a sidechain of Bitcoin and provides the RBTC, a token that is pegged one-to-one to BTC using a two-way peg wherein the supply of RBTC is limited by the supply of BTC.
Q: How can I get RBTC?
Q: Is RSK secure?
A: RSK is the most secure blockchain after Bitcoin itself. Bitcoin miners also mine for RSK by means of a technique called “merge mining”.
Q: Where can I find out more about RSK?
A: RSK’s own FAQ list is available at: https://www.rsk.co/en/faqs/
Q: Which Wallet can I use to access the MoneyOnChain protocol?
Q: Will Money on Chain provide pegs to other currencies such as the Euro?
A: Yes. Our platform is designed to run multiple stablecoins that will be collateralized independently from each other.
Q: Will the MOC, DOC, and BPRO be available on traditional crypto exchanges?
A: We will operate our own decentralized token exchange (TEX) and also plan to be listed on exchanges that will also act as secondary markets.
Q: How will the collateral and peg stability be audited?
A: The collateralization is public, so anybody is able to assert the stability of the peg in real time.
Q: How does the passive income for BPro holders work?
A: BPro holders will absorb the volatility from the stablecoins and will sell it to the decentralized bitcoin leveraged operation traders.
Q: What is the incentive for someone to hold BPros instead of just Bitcoin?
A: BPro is thought to be an asset for Bitcoin holders: instead of freezing their Bitcoin in a wallet, they could put some of their holdings to work to obtain low risk leverage and earn a passive income in return for lending their money to decentralized bitcoin leveraged operation traders.
Q: What will the leveraged margin rates be?
A: The rates will be defined by the market within the platform, but typically they will be smaller than any other traditional exchange.
Q: Is the platform or any of its tokens regulated by governments?
A: We comply with all necessary government regulations.
Q: How many MOC tokens will there be?
A: The supply will be limited to 210,000,000 MOC tokens.
Q: What are the incentives for keeping MOC tokens?
A: First, you’ll be able to participate in the governance of the DAO. Second, from the financial standpoint, MOCs can be used to pay fees for trading operations at a lower rate than if fees are paid with BTC. As a result, we expect the value of the MOC to appreciate with the use of the platform.