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Psyche: The User-Friendly Stablecoin

Marites Cabanilla
4 min readNov 19, 2020

Stablecoin was first introduced in the crypto market in 2014 and Tether was launched as the first and sole stablecoin until 2018. From 2018 onwards, one stablecoin was launched after another. The volatility of cryptocurrencies was the main reason for the creation of stablecoins. Stablecoins have a consistent value. Some stablecoins were pegged with fiat currency. In this case, one stablecoin is collateralized with $1. Others were pegged with crypto but since cryptos are known for their volatility, one stablecoin is collateralized with $2 instead.

Moving forward to 2020. Right now there are about 200 stablecoins available in the market and the total supply has now reached $12B. With the figures, we can see that it’s now one of the most lucrative investments in the crypto market. And we can’t get enough of stablecoins. But since stablecoins were created using blockchain, some may think of its complexity. This may be true to other stablecoins but Psyche, the newly launched stablecoin comes with user-friendly operating protocols. But before delving more into that, what is the purpose of Psyche?

Psyche is the future. Literally, it promises the future. Why? Because it will be the first coin to focus on space tourism and futuristic plan. True to its name, Psyche was named after the famous asteroid Psyche 16. Psyche will invest in space mining startups. Space explorations and exploitation has ignited debates amongst societies. If we are talking about the future, Psyche brings us closer to the realization of our dreams as humans.

As we mentioned earlier, Psyche is a user-friendly platform. It comes with a wallet that offers a lot of innovations like easy wallet ID, free transactions, signed transactions, and no rate fluctuation. One of its best features is the signed transactions. Why? Let’s face it, as humans sometimes we are prone to errors. Unfortunately for us, blockchain transactions are irreversible. So once we send a certain amount to the wrong recipient, it’s entirely impossible to get our money back. But with Pysche signed transactions, every transaction comes with a six unique that is visible only to the sender which later will be shared with the recipient to complete the transaction. Amazing right!

What are the other advantages of Psyche that its customers can enjoy? Speedy transaction. With Psyche, processing will only take a second. Yes, you heard it right. In terms of scalability, the system can process 3,000 transactions per second. Psyche was created using the “Reflex Algorithm”. With the use of the algorithm, processing becomes easy like merely sending an email to anyone on the internet. As for the cost of transfer from one wallet to another, it’s free of charge. And the last one, we have the anonymous balance. With everyone wants to become anonymous these days, this is definitely well-appreciated.

Psyche also offers diversity when it comes to application. It is available for various platforms like remittance, the marketplace, crowdfunding, payments, and a stable economy.

How many tokens will be available in the market? There will be around 100,000,000 total supply of Psyche tokens. The token will bear the symbol USD1 and it’s an ERC20 token. There will be 100,000 tokens available for the private sale. 30,000 tokens will be offered at $0.20 on the first cup. Another 30,000 tokens at $0.25 on the second cup. And lastly, 40,000 tokens at $0.30 on the third cup. The token sale will start on Nov. 5 with a minimum purchase of $100.

Having a project that offers good profit and futuristic doesn’t come every day. This project deserves to be on the top list of investors in the crypto industry as one of the best crypto investment.

To know more about the details of this project, visit their posted blog in Bitcointalk ANN Thread. You may also visit their Twitter account @psycheusd or Telegram account https://t.me/psycheusd. For investors, take advantage of the token sale for #USD1 and be part of this endeavor. #psycheusd we can help bring the realization of every human’s dream. Yes to space exploration and exploitation. With @psycheusd, this will be possible.

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Marites Cabanilla

Written by Marites Cabanilla

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