Stable Coin Management System

Within the Elcoin’s The Platform? core banking system there is a module called Digital Asset Ecosystem? which allows to leverage the advantage of our proprietary CeFi/DeFi technology platform to launch and run your web 3.0 project.

At Elcoin, we believe in continuous self-improvement and innovation by design as well as business experimentation. Starting our activities by concentrating and advancing on a selected range of products, we aim to continuously grow achieving milestones step-by-step while creating a complete IT services ecosystem. We are open to alliances and strong partnerships so to introduce our novel IT solutions to new markets and wider audience.

Following the recent work in the crypto services industry the Elcoin company came across many different values proposition in the fintech industry. In particular, Elcoin has helped its clients to launch private CEX platforms, build crypto-native neobanks and remittance companies. Along its journey Elcoin and its business team members has come across different cryptocurrency projects and stablecoin propositions.

The management of digital assets involves overseeing and controlling various aspects related to the ownership, security, and utilization of digital assets. Digital assets can encompass a wide range of items, including cryptocurrencies, digital tokens, digital art, intellectual property, and more.

As we sometimes joke within the team, as soon as you decide to issue any coin or token, much less a stablecoin, you are immediately faced with issues that you had not previously thought about. Congratulations, by issuing your own digital asset you have become your own central bank!

In order for your project to work effectively, you need a system that will take into account the aspects that we want to discuss today, here are just a few of them:

·?????? Asset Ownership and Documentation: Managing digital assets starts with establishing clear ownership and documentation. This includes recording ownership rights, creating digital wallets or accounts to store the assets, and maintaining proper records or certificates of ownership.

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·?????? Security and Custody: Ensuring the security of digital assets is paramount. Robust security measures are implemented to protect assets from unauthorised access, theft, or loss. This may involve the use of encryption, multi-factor authentication, hardware wallets, cold storage solutions, and regular security audits.

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·?????? Digital Asset Exchanges: For digital assets that can be traded or exchanged, managing them involves utilising digital asset exchanges or trading platforms. These platforms facilitate the buying, selling, and trading of digital assets, and their management includes selecting reputable exchanges, monitoring liquidity, tracking trading volumes, and ensuring compliance with regulations.

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·?????? Asset Valuation and Tracking: Managing digital assets requires monitoring their valuation and tracking their performance. This involves regularly assessing the value of the assets based on market conditions, analysing price movements, and staying informed about relevant news and developments that may affect asset values.

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·?????? Regulatory Compliance: Compliance with relevant regulations is essential in managing digital assets. Depending on the jurisdiction, digital asset management may involve adhering to anti-money laundering (AML) and know-your-customer (KYC) requirements, tax regulations, securities laws, and other applicable regulations.

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·?????? Digital Asset Governance: Establishing governance mechanisms for digital assets is crucial. This may include setting up protocols, rules, and procedures for making decisions related to the management, utilisation, and transfer of assets. Governance can be achieved through smart contracts, decentralised autonomous organisations (DAOs), or other mechanisms to ensure transparency, fairness, and decentralised decision-making.

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·?????? Asset Utilisation and Monetisation: Managing digital assets involves exploring ways toleverage their value. This can include utilising assets for specific purposes, such asstaking or lending cryptocurrencies, participating in decentralised finance (DeFi) protocols, or monetising digital art through platforms like non-fungible token (NFT) marketplaces.

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·?????? Maintenance and Upgrades: Digital assets often require ongoing maintenance and upgrades to ensure their functionality, compatibility, and security. This involves staying up to date with software updates, patching vulnerabilities, and implementing improvements to enhance the performance or features of the assets.

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·?????? Auditing and Reporting: Regular auditing and reporting are essential for managing digital assets. This includes conducting internal or external audits to verify the accuracy of asset records, preparing financial statements, and providing transparency to stakeholders regarding the status and performance of the assets.

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·?????? Risk Management: Managing digital assets also involves identifying and mitigating risks associated with their ownership and utilisation. This may involve implementing risk management strategies such as diversification, insurance, hedging, and contingency plans to protect against potential risks such as market volatility, technological failures, or regulatory changes.

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Our product:

What we are proposing in our “Elcoin Digital Asset Ecosystem (DAE)” module is the management of your digital asset within one system which offers its owner to run business operations of his digital asset smoothly. The system has reporting features by letting the project owner know the distribution of his digital assets on CEXes and DEXes, as well as its circulating supply, it triggers arbitrage deals to provoke actions for the owner’s market-maker to come up with the right decision to manage any arbitrage activity between platforms, it allows to have payment rails for public sale by connecting its potential client via widget to purchase the digital asset straight from the treasury, and it allows custody solutions of accounts and distribution of the coin in an instant between CEX platforms for liquidity purposes managing the circulating supply efficiently and effectively.

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