Collateralizing BUSD, USDT, USDC, DAI and USDG with a
unique protocol to a dynamic coin, ATOM
A digital token backed by top stablecoins provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.
Asset-collateralized token issuers and other market participants can take advantage of blockchain technology, along with embedded consensus systems, to transact in familiar, less volatile currencies and assets.
In order to maintain 100% collateralization, we propose a pooling unique protocol to maintain a reserved ratio between a cryptocurrency token, called Atom, and an associated stablecoin. This method uses the Ethereum blockchain, Uniswap decentralized pool protocol, Proof of pooling Reserves in real time and other methods to prove that issued tokens are proportionally backed and reserved at all times by the stablecoins.
Table of Contents
Go To Market
The process simplified
Stack and Processes
Proof of Reserves
For crypto market investors
Limitations of Existing Fiat pegging Systems
Market Risk Examples
Legal and Compliance
Glossary of Terms
There exists a vast choice of investments in the world, but the system has proven its limits in many store-of-values, transactional mediums, or basic investments. We believe the Ethereum blockchain is a better technology for transacting, storing, and accounting for these assets especially in 2021.
Bitcoin was created as “an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party”. Bitcoin created a new class of digital currency, a decentralized digital currency or cryptocurrency .
Some of the primary advantages of cryptocurrencies are: low transaction costs, international borderless transferability and convertibility, trust-less ownership and exchange, pseudo-anonymity, realtime transparency, and immunity from legacy banking system problems. Common explanations for the current limited mainstream use of cryptocurrencies include: volatile price swings, inadequate mass-market understanding of the technology, and insufficient ease-of-use for nontechnical users.
The idea for asset-pegged cryptocurrencies was initially popularized in the Bitcoin community by the Mastercoin white paper authored by J.R. Willett in January 2012. Today, we see these ideas built with the likes of BitAssets, Ripple, Omni, Nxt, NuShares/Bits, and others. All Bitcoin exchanges and wallets (like Coinbase, Bitfinex, and Coinapult) which allow you to hold value as a fiat currency already provide a similar service in that users can avoid the volatility (or other traits) of a particular cryptocurrency by selling them for fiat currency, gold, or another asset.Further, almost all types of existing financial institutions, payment providers, etc, which allow you to hold fiat value (or other assets) subsequently provide a similar service.
Atom creates a new generation of stablecoin-pegged cryptocurrencies based on a pooled indexed investment, with the guarantee of a proportional reserved ratio between a token and its associated stablecoin, the pool.
A token with several degree of market tolerances. A token with 100% guarantee of reserves indexed on its united pooling valuation. One of the only few tokens in the world with a secured and guaranteed pool reserve.
At first, the Atom tokens will be sell on a $M10 ICO presell around the world at the valuation of $0.01 per token.
Once the presell accomplished, all the funds from the total sales will be invested in indexed pool securities on Uniswap for the total amount of funds raised.
Each of the presell investors will receive the amount related to its investment in tokens.We will emit a certificate of uni-pooling for the total of pools. No special fees or whatsoever will be seen by any parties for the entire process.
Go To Market
Once the funds raised, A dynamic smart contract will be established to guarantee the reserve of the token to its pools. All the tokens available will become tradable on any safe platform of cryptocurrencies worldwide partnering with Atom. Token holders will be able to start trading the token at its starting price of $0.01 per token (Trading price).
In order to guarantee an exponential value of the Atom, we will propose to any ICO investor a 30% staking profit per year for a period of two years to insure high demand in the market.
The trade of Atom will be available through different platform under the regular blockchain worldwide system. We will set a DAI smart contract for the reserve of each token trade.
The token value will be displayed in real-time continuously on our website.
The pool is fully autonomously managed by Uniswap protocol. The amount of total tokens in circulation and in reserve will be displayed on our website. The indexed pool securities will be fully display and disclosed on our website in order to keep our token transparent and as reliable as possible.
Our Pooling protocol is set on the fundamentals of Atom. A report of the pools index with values will be displayed on our website for complete transparency.
We charge 10% fees for the management of the pools and tokens.
We offer up to 30% return per year for long term holders upon the market volatility and behavior.
No fees for admission, No fees for transactions
ATOM USD (USDAT)
Our standard token collateralized by an indexed pool of the top 5 worldwide stablecoins.
We are dedicated to one and only objective , our token trading value. From the establishment of the token to the final step, we have for only reward the valuation of our Token. We do not charge any fees for the presell transactions, no special fees for ICO and pre pooling management, no fees for the creation of this unique new token, only 10% fees to cover all the expenses and tokens care.
Our mission is to concentrate all our efforts in the feasibility, ease of trade and positive ascension of the token value together with managing and positioning our pools.
The crypto market exchange offers many opportunities in many variations worldwide.Market analysis experts have the knowledge and expertise in analyzing opportunities, calculating the risk factor of each investment, understanding process, defining the gap in the market etc, Although, there are many risk in investing directly in crypto, especially in our times when the market shows an unknown volatility.
Investing in Atom, not only guarantees a smart and united investment in pools, but a great advantage in using a limited cap token which is by definition a collateralized digital asset. Assuming an investment in the top 5 stablecoins, Atom value in the blockchain trading platform will always maintain strength and stability.
Furthermore, the pool securities reserve is the guarantee of a long and healthy tradable Token over the time, where in most scenarios, presell investors will keep and stake rather than a standard long/short scenario.
Technology Stack and Processes
Each Atom issued into circulation will be backed in a proportional ratio with the equivalent amount of corresponding Atom and stablecoin securities held in pool reserves and managed by Uniswap which is the decentralized custodian of the backing asset and is acting as a trusted third party responsible for that asset.
The stack has 4 layers:
The first layer is the Ethereum blockchain. The Atom transactional ledger is embedded in the Ethereum blockchain as metadata via the embedded consensus system, ERC-20.
The second layer is the ERC-20 Layer protocol. ERC-20 is a foundational technology that can:
Grant and revoke digital tokens represented as metadata embedded in the Ethereum blockchain; in this case, Atom.
Track and report the circulation of Atoms viahttps://etherscan.io/Enable users to transact and store Atoms and other assets/tokens in a:
p2p, pseudo-anonymous, cryptographically secure environment.open-source, browser-based, encrypted web-wallet: Ethereum Wallet. multi-signature and offline cold storage-supporting system.
The third layer is Uniswap, a decentralized pool protocol primarily responsible for:
Maintaining pool ratio of X*Y=K
Taking care of all the technical process and coordination
Initiating and managing integrations with existing Ethereum/blockchain wallets, exchanges, and merchants
Managing the token reserve
The fourth layer is Atom, primarily responsible for:
Sending funds to pools
Custody of the pool securities reserves that back all Atoms in circulation
Publicly reporting pooling Proof of Reserves and other audit results as needed
Transfer staking profit to any Atom holder
Users can obtain Atoms outside of the aforementioned process via an exchange or another individual. Once an Atom enters circulation it can be traded freely between any business or individual. For example, users can purchase Atoms from our partnering wallet Metamask, with more exchanges to follow soon. The main concept to be conveyed by the ascension of Atom’s value diagram is that Atom Union will never issue more Atoms into circulation (create them).This is the main process by which the system solvency is maintained.
Pooling Proof of Reserves Process
Proof of Solvency, Proof of Reserves, RealTime Transparency, and other similar phrases have been growing and resonating across the cryptocurrency industry.
Exchange and wallets audits, in their current form, are very unreliable. Insolvency has occurred numerous times in the Bitcoin ecosystem, either via hacks, mismanagement, or outright fraud. Users must be diligent with their exchange selection and vigilant in their use of exchanges. Even then, a savvy user will not be able to fully eliminate the risks.
In financial language, this is known as the “counter-party risk” of storing value with a third party. We believe it’s safe to conclude that exchange and wallet audits in their current form are not very reliable. These processes do not guarantee users that a custodian or exchange is solvent. Although there have been great contributions to improving the exchange audit processes, like the Merkle tree approach, major flaws still remain.
Atom pooling Proof of Reserves configuration is novel because it simplifies the process of proving that the total number of Atoms in circulation (liabilities) are always proportionally backed by an equal amount of Atoms and stablecoins securities held in Uniswap pools.
In our configuration, each Atom in circulation represents a portion of our pool securities value held in Uniswap, which means the system is fully reserved when the cash balance of all Atoms in existence (at any point in time) is proportionally equal to the cash balance of our pool securities held in our Uniswap pools.
Since Atom live on the Ethereum blockchain, the provability and accounting of Atoms at any given point in time is trivial. Conversely, the corresponding total amount of pool securities held in Uniswap pools is proved by publishing uniswap balance and undergoing periodic audits. Find this implementation further detailed below:
Atom issued all Atoms via the ERC-20 Layer protocol. ERC-20 operates on top of the Ethereum blockchain and therefore all issued, redeemed, and existing Atoms, including transactional history, are publicly auditable via the tools provided at https://etherscan.io/
Each Atom in circulation will be backed by the cash value proportional equivalent amount of stablecoins held in our pools.
Users will be able to view this information from our Transparency Page.
We understand that our implementation doesn’t immediately create a fully trust-less cryptocurrency system. Mainly because users must trust Atom and Uniswap to be the custodian of the reserve assets.
However, almost all exchanges and wallets (assuming they hold backed assets) are subject to the same weaknesses. Users of these services are already subject to these risks.
Here is a summary of the weaknesses in our approach:
The stock market could collapseThe token valuation could collapseOur banking partner could go insolvent Our banking partner could freeze or confiscate the funds We could abscond with the reserve funds
Observe that almost all digital currency exchanges and wallets (assuming they hold backed assets) already face many of these challenges. Therefore, users of these services are already subject to these risks. Below we describe how each of these concerns are being addressed.
The crypto market could collapse
This is a risk faced by all crypto market investors of the legacy crypto financial system and all the crypto traders worldwide. Uniswap pooling securities charter has been elaborated by the best engineers to be found in the decentralized ecosystem insuring reliability and sovereignty.
The token valuation could collapse
This is a risk faced by any cryptocurrency owners. We will concentrate our efforts on working strategically in the following priority order:
Publishing our presell event worldwide especially in the crypto financial ecosystem
VII.Publishing the trading launch of Atoms worldwide in both legacy financial and blockchain newswire
VIII.Managing integrations with existing Ethereum/blockchain wallets, exchanges, and merchants. Kicking Atoms demand on a strategic level. Release PR articles on traditional and established crypto news outlets for English, Chinese and Korean audiences. Employ influencers from social apps like Twitter, Reddit, Bitcointalk, Wechat, Kakaotalk, Telegram, Youtube, Medium, etc.
XV.Affiliate marketing and SEO
Uniswap could go insolvent/unreliable
This is a risk faced by all users of the Uniswap system and by all exchange operators on Uniswap.
In this section we’ll summarize and discuss the main applications of Atoms across the Ethereum/blockchain ecosystem and for other consumers globally. We break up the beneficiaries into two user groups: Crypto market Investors, Individuals.
The main benefits, applicable to all groups: Properties of Tokens bestowed upon other asset classes Less volatile, familiar unit of account World’s assets migrate to the Ethereum/Bitcoin blockchain
For Crypto market Investors
Crypto market operators understand that using legacy crypto financial systems can be complicated, risky, slow, and expensive.
By offering Atoms, Crypto market investors can relieve themselves of the above complications and gain additional benefits, such as:
A smart and united investment in pools
Investing on a unique pool indexed value
Investing on a limited cap token backed by stablecoins
Participating on an original blockchain concept
Diversifying investment wallets with Atoms
Secure customer assets purely through accepted crypto-processes:
VII.Multi-signature security, cold and hot wallets, HD wallets, etc
VIII.Conduct audits easier and more securely in a purely crypto environment
Anything one can do with Ethereum/Bitcoin as a crypto market investors can be done with Atom
There are many types of individual Bitcoin users in the world today.
From traders looking to earn profits daily; to long term investors looking to store their Bitcoins securely; to tech-savvy shoppers looking to avoid credit card fees or maintain their privacy; to philosophical users looking to change the world; to those looking to remit payments globally more effectively; to those in third world countries looking for access to financial services for the first time; to developers looking to create new technologies; to all those who have found many uses for Ethereum. For each of these individuals, we believe Atoms are useful in similar ways, like:
Transact in USD value, pseudo-anonymously, without any middlemen/intermediaries
Cold store stablecoins securities value by securing one’s own private keys
Trade a pool securities backed token with the world
Avoid having to open a bank account to store value
Easily enhance applications that work with Ethereum to also support Atom
Anything one can do with Ethereum as an individual one can also do with Atom
Limitations of Existing Stablecoins and Fiatpegging Systems
Here’s a list of some of the common drawbacks and limitations of existing fiat-pegging systems.
The systems are based on closed-source software, running on private, centralized databases, fundamentally no different than Paypal or any other existing mass-market retail/institutional asset trading/transfer/storage system.
Decentralized systems that rely on altcoin blockchains which haven’t been stress-tested, developed, or reviewed as closely as other blockchains, like Bitcoin. Pegging processes that rely on hedging derivative meta-assets, efficient market theory, or collateralization of the underlying asset, wherein liquidity, transferability, security, and other issues can exist.
Lack of transparency and audits for the custodian, either crypto, fiat, or relating to their own internal ledgers (same as closed source and centralized databases).
Reliance on legacy banking systems and trusted third parties (bank account owners) as a transfer and settlement mechanism for reserve assets.
Market Risk Examples
In the collateralization method, market risk exists because the price of the asset being used as collateral can move in an adverse direction to the price of the asset it’s backing/pegging. This would cause the total value of the collateral to become less than the total value of the issued asset and make the system insolvent. This risk is mitigated by the custodian closing the position before this happens; that is, when the collateral price equals the pegged asset price then the collateral is liquidated (sold on the open market) and the position is closed. A great approach, with merit, and used in many liquid markets across the traditional banking and financial markets. However, as we saw from the global financial crisis, situations can arise in which the acceleration of such events causes a “liquidity crunch” and thus the collateral is unable to be liquidated fast enough to meet trading obligations, subsequently creating losses. With the cryptocurrency markets being so small and volatile, this type of event is much more likely. Additionally, the overall approach suffers from other liquidity and pricing constraints since there must be a sufficient supply of users posting collateral for the creation of the pegged-assets to exist in the first place.
In the derivatives approach, the price of the asset is pegged through entering one of several derivatives strategies, such as: swap strategies, covered and naked options strategies, various futures and forwards strategies. Each strategy has their own strengths and weaknesses, the discussion of which we won’t engage in here. To summarize, each of these pegging processes themselves have similar “market risk” characteristics as the aforementioned collateralization method. It should be noted that the two methods are not mutually exclusive and often paired in a specific trading, hedging, or risk management function at legacy system financial institutions.
Finally, understand that we believe some combination of the above approaches may become a secure, reliable, and generally risk-free process for backing/pegging assets; however, at this point in time, this is not a direction we feel is feasible to take to ensure liquidity and price stability. Further, we believe that a reserve-based approach will always be in existence and complement these other approaches as the entire industry grows. As advances in technology continue, we will evaluate and incorporate any benefits available while maintaining the guarantee of 100% redeem-ability.
Legal and Compliance
Our consortium is an angel club of investors from France and United States of America.
Our group is fully backed with professional players in the industries of Blockchain, Finance, Law and Management.
You can find the list of all the founders and partners on our web site in the Team section.
Glossary of Terms
Digital currency:As defined by http://en.wikipedia.org/wiki/
Digital_currency Cryptocurrency or decentralized digital currency:any type of cryptocurrency that is opensource, cryptographically secure, and uses a distributed ledger. See: http://en.wikipedia.org/wiki/
Cryptocurrency Realworld currency, or fiat currency, or national/sovereign currency:all types of currency that are not cryptocurrencies as defined above.
Cryptocurrency system:A collection of software and processes primarily created to enable the existence of a cryptocurrency.
Legacy financial system:any financial system that is not a cryptocurrency system. Utility-backed digital tokens, a.k.a
Dapps:A decentralized digital token whose value is derived from the usefulness of its application rather than just being a value transfer system.
Assetbacked/pegged cryptocurrency:Any cryptocurrency whose price is pegged to a real-world asset, i.e. its not a “utilitybacked” cryptocurrency.
Proof of Reserves:The process by which the issuer of any assetbacked decentralized digital token, cryptographically/mathematically proves that all tokens that have been issued are fully reserved and backed by the underlying asset.
Author: Michael J. Desforges April, 04 2020