Central to the Resilient Economy Program is the Qaori (QAORI), a utility token that serves as the backbone of the ecosystem. The Qaori token operates on the Polygon blockchain, providing users with a seamless and secure means of transacting within the platform. The Qaori token has a fixed value of 1 (one) USD at the minting time, and by its unique way of calculating value, ensures stability and eliminates concerns about currency fluctuations or inflation.
The Blockchain-based Qaori cryptocurrency has a twin virtual currency with the same name, conjoined and entangled from conception through birth. The virtual Qaori is a centralized currency in a web-based wallet application, which can be used as a direct payment vehicle on the web and on mobile devices. The twin currencies are strictly backed one-to-one with the same algorithm (see chapter “Value Creation”).
The Qaori virtual twin currency is backed by the cryptocurrency algorithm so that at any time, they can be exchanged in a strictly one-to-one ratio.
How can a currency have a fixed value? In fact, it is mathematical impossible, something like squaring a circle, but we found a solution that comes close: we use a portfolio of antagonistic reference values, which tend to compensate for the mutual volatility of each other: when one goes down, another one goes up in reaction. We have all the historical values to compare and follow up in quasi-real time. We use Wall street-grade tools to guarantee the respect of the references. Our current portfolio is based and backed 100% on a basket of USD, EUR, Gold, Bitcoin, and CNY. We will put in place a governance structure that assures the integrity and efficiency of the portfolio. We will adapt it in the case that one or more of these values become too wild and jeopardize the “fixed-value” quality of the Qaori. The Qaori is minted with a certain time stamp, which is then used as a reference value.
When you buy or sell the Qaori, the smart contract calculates the actual value of the day.
This way, we beat inflation, how useful is that?
