[ANN]Constant Stable Coin MVP Launch: A more useful money

***** What is Constant?Constant is a burnable, mintable ERC20 stablecoin pegged to USD and 100% backed by a publicly-audited reserve. Developed as the ideal stablecoin, Constant is a stable unit of account, a secure store of value, and an efficient medium of exchange. Why Constant?Imagine if sending, storing, and managing money was as easy as sending a text message. Globalisation has brought us closer together, our needs have evolved, and yet the global financial system is still stuck in the dark ages. Constant leverages what works in both the fiat and crypto worlds while stripping out what doesn’t to create a more useful, mobile, global money. You can buy, store, or transfer Constant to anyone, anytime, anywhere, and at zero to low cost. Constant for everyone:

1:1 backed by the US dollar, the most stable fiat currency in the world

Say goodbye to volatile markets and economies, and say hello to a stable store of value for your hard-earned money.

Fast, flexible, and cheap international transfers

Say goodbye to tedious bank transfers that take days to process and cost up to $50 dollars in fees. Transfer instantly, at zero to low cost.

Easy mobile payments

Send, store, and manage your money wherever you go, safely secured by blockchain technology and ready to go when you are.

Works anywhere, anytime

Don’t be slave to your bank’s opening hours. Constant is always open, no matter what time of day, month, or year.

Intuitive, simple UX

Manage Constant with just an email address and password. Clear, easy to use interface, with consistent feedback at every step. Constant for businesses:

No more chargebacks

Constant payments are irreversible and secure, minimizing the cost of fraud for your business.

Multi-signature support

Constant can automatically approve transactions once relevant parties have signed them off, creating an efficient and frustration-free sign-off process.

Online payments

It’s really easy to add Constant to your existing e-commerce site. There are many 3rd party payment processing services that support ERC20 tokens and have stable APIs.

Offline payments

Accepting payments is as easy as scanning a QR code. Simply use your digital wallet to scan the QR code from your customer’s wallet (as long as they both support the common ERC20 standard).Constant for traders:

Maximise gains while hedging against losses

Constant is the perfect hedging coin. Protect your gains from market volatility and hedge against losses with the battle-tested stability of the USD.

Lower fees and transaction times

Use Constant as an alternative to fiat deposits for lower fees and faster transactions. BTC or ETH deposits might lose value, but 1 Constant always equals 1 USD.Constant for developers:

Be your own bank or payment gateway

You don’t need approval from a bank or payment processor.  You can just boot up a node and become your own.  

Simple yet powerful programming model

You no longer have to store customer information on your server and be responsible for protecting it. The chain itself is the most secure database, immutable and protected from any single point of failure – taking payments is as simple as a few API calls to the blockchain via the web3.js library.

Integrate into your existing website or apps

Constant is an ERC20 token, so you can integrate Constant into your existing web and mobile apps via commonly used tools like metamask. How does Constant work?An overview of the Constant SystemThe Constant Trust VaultFor every single Constant that’s minted, a dollar deposit is made to the Constant Trust Vault, an escrow account managed by Prime Trust, a US accredited financial institution. This guarantees Constant’s value and fungibility. The Constant Trust Vault will accept USD only, but in the future, we plan to add other assets, including, but not limited to, the following:

Cryptocurrencies

Other currencies (like EUR, for example)

Tokenized securities (property, fine art, stocks, and so on)

The decentralized payment networkConstant combines the benefits of distributed ledger technology with the creditworthiness and stability of the US Dollar. The decentralized payment network is peer-to-peer, operating without central authority or banks. Processing and managing transactions are carried out collectively by the users of the network. Network users handle all payment and settlement, safely and efficiently. The Constant FoundationAs the founding team that makes initial decisions with regard to the building and running of the Constant System, The Constant Foundation is responsible for UX/UI, monetary policy, and getting Constant into the hands of as many users as possible.Over time, the Constant System will become increasingly decentralized, so that decision-making powers will ultimately belong to the community at large. How is Constant built? Constant is open source at https://github.com/constant-money. The Constant System is built to evolve with the community, so it is open and transparent to the public.At the infrastructure layer, Constant is built on top of the Ethereum network to enable payments, and Prime Trust API, for escrow.On the backend, Constant includes a number of smart contracts for minting and burning Constant. It also includes off-chain components to provide better UX. Finally, it includes a set of developer APIs to enable developers to integrate Constant into their products.On the frontend, Constant provides both web and mobile interfaces.  We hope that over time, more web and mobile apps will be built with Constant.                                                *****