Gluwacoin

A Decentralized Network of Stablecoin Blockchains
What is it?
A Meta-Network of Stablecoins

Gluwacoin's main blockchain is backed by fiat currency, serving as a gateway between the cryptocurrency world and the real world.

The mainchain connects to sidechains to form a decentralized network of stablecoin blockchains. Users can choose the sidechain with the technology and credibility they prefer.

Users can trade Gluwacoin for fiat currency at 1:1 fixed rate as long as we operate in their country and they meet our AML policy.

Mainchain
The mainchain is a public blockchain connected to every sidechain of Gluwacoin.
Sidechain
A sidechain is a blockchain connected to the mainchain. A user can use a blockchain with different properties from the public chain through a sidechain.
Cross-Blockchain Experience
Users can interact not only with other users on the same blockchain but also with users on different blockchains. Interaction is permitted directly from one sidechain to another.
How it Works

We propose to bring both sovereignty and stability to a stablecoin ecosystem by using a network of blockchains.

1
A network of networks

The network connects multiple sidechains with the mainchain, forming a meta-network where users can select to transact on any blockchain they want.

2
Mainchain

The mainchain serves as a gateway for sidechains and also as a value stabilizer by minting and burning coins at a fixed price.

3
Stabilized by the market

Any price differences or errors on networks will be reduced or corrected by users' arbitrage activities. Arbitrage trading continues until all networks become perfectly efficient, thereby helping the ecosystem stabilize.

4
Decentralized ERC20

The mainchain itself is a simple ERC20 smart contract. Sidechain operators will hold underlying liquidity of Gluwacoin within their sidechains, and users can enter or leave a sidechain at will, selecting any network they prefer to use.