The fully-decentralized network of stablecoins, PegNet, announces the launch of the first mobile wallet for Android users to easily convert pegged asset tokens.
PegNet wallet hosts 42 stable pegged asset tokens of the top fiats, cryptocurrencies, and commodities gold and silver
PegNet is the first proof-of-work oracle-based stablecoin network for DeFi
Fixed $0.001 cost for all transactions and conversions within the PegNet system
PegNet community launches the first mobile wallet for users on the android app store. Cryptocurrency users now have the ability to convert pegged stable asset tokens and the native PEG token easier than ever and for next to no cost.
The decentralized stablecoin network is entirely community-built, first launching fair-start proof-of-work CPU mining in August of last year with transactions and conversions going live in October. In less than one year, the PegNet community has developed a robust mining and trading community, earned listings onto multiple exchanges including IDEX and US-based qTrade exchange, and more regularly sees new integrations and collaborations with other DeFi communities and projects. Last week, PegNet announced its mutually-beneficial integration with Chainlink, making it the first POW oracle source for Chainlink.
With the increased demand for stablecoins in the past year combined with the recent draft suggestions from the FSB for classifying and regulating stablecoins worldwide, the PegNet community believes timing is ripe for a fully-decentralized option such as PegNet for cryptocurrency traders and users. PegNet combines the best principles from the decentralized cryptocurrency, Bitcoin, with the best characteristics of centralized stablecoins to create a first-of-its-kind DeFi solution built by the people, for the people. Community member and miner, David Johnston is enthusiastic about the newest PegNet developments saying, “It’s never been easier to move between different assets. With this one mobile wallet you can now convert between crypto, stablecoins, & Gold and Silver with the push of a button.”
PegNet is an open-source, community-built and oracle based stablecoin network for DeFi. A novel innovation that synthetically tokenizes fiat currencies, crypto assets, and commodities. Powered by the Ethereum and Factom protocols, PegNet offers frictionless movement between any of the 46 assets comprised of the top fiat currencies, cryptocurrencies, commodities gold and silver, and the native PEG token in a network that is fully-decentralized, open-source, fully-auditable, trustless and CPU-mineable. PegNet relies on POW miners to report oracle price record data and does not expose users to any of the collateral or reserve-based risks.
PegNet is a fair-start POW project since the genesis block never having had an ICO, IEO, Airdrop, Founder, Founder’s reward, Fund, Foundation, or pre-mine event. To join the community conversation, visit pegnet.org/chat.