Proposal to list TRYB_USDC pair

DFX Proposals
1

Title
Proposal to list TRYB_USDC pair

Summary

  • TRYB, the first fiat backed stablecoin pegged 1:1 to the Turkish Lira, was developed in April 2019 to ensure financial inclusion for all and to connect everyone with decentralized financial products.

  • Users who sign up and complete the KYC / AML process can issue and redeem TRYB for TRY on the BiLira platform, as well as view balances across DeFi protocols and easily swap between tokens with a built-in DEX aggregator.

  • Our token is ERC20 compliant. We are live on Ethereum Mainnet, Binance Smart Chain, Algorand, Avalanche C-Chain and X-Chain.

  • TRYB token contract is a fork of USDC (Centre), which has been audited and battle tested.

  • The Founding team’s experiences include places like Coinbase, Consensys, RBC and Deloitte and the company is backed by Alameda Research, Ava Labs and prominent angel investors from Turkey.

  • Our team aims to create an environment for individuals to adopt the use of stablecoins in their daily lives.

  • As BiLira, we are adamant to consistently grow the Turkish crypto ecosystem and encourage the use of TRYB in bridging the gap between centralized and decentralized finance.

  • TRYB is a stablecoin that can be used 24/7 and can be traded on 5 different blockchains as well as exchanges like FTX, Uniswap and Bittrex.

  • In the last year, over $1 billion worth of tokens has been issued and redeemed by over 10k users.

  • BiLira is regularly audited by independent organizations and audit reports are shared on the BiLira website.

  • BiLira’s official website can be found here.

Motivation

  • Turkish Lira is the official currency of the Republic of Turkey and the Turkish Republic of Northern Cyprus.

  • Turkey has the world’s 20th largest nominal GDP and 11th largest GDP by PPP. Source

  • The Turkish Lira is usually abbreviated as TRY.

  • The Turkish Lira is promising with a young and dynamic population of 83.4 million of the Republic of Turkey as of 2021.

  • Turkish Lira is the 19th most traded currency worldwide.

  • Citizens of the Republic of Turkey are very interested in the crypto money ecosystem. Total crypto trading volume on centralized exchanges in Turkey exceed $1bn per day.

  • Has a higher market cap than CADC, higher volume and liquidity than XSGD and CADC.

  • TRYB is pegged 1:1 to the Turkish Lira with high-interest rates.

Specifications
Contract address: BiLira Stablecoin (TRYb) Token Tracker | Etherscan 5

Github : BiLira Token

No major changes are necessary, as the TRYB token uses the Centre codebase. Same process with adding USDC.

For

  • TRYB is a major fiat on/off ramp solution in the fast growing Turkish market.

  • Will allow Turkish users to access DFX directly and potentially onboard thousands of users who wish to easily execute Forex transactions and access deep on-chain liquidity.

  • TRYB offers its users safe use thanks to its bank reserves, which are audited and the reports are published regularly.

  • TRYB uses the USDC (Centre) contracts which are very secure.

  • TRYB is used for social benefits and scholarship distributions in Turkey.

  • BiLira is a founding member of the “Stablecoin Alliance”, which was established to accelerate the global adoption of stablecoins and set high security and regulatory standards.

  • TRYB retains the services of a recognised Market Maker.

Against

  • DFX will not get direct access to the fast growing Turkish market.

  • DFX will not have one of the fastest growing non-USD stablecoins on it’s platform.

Vote

  • For
  • Against

0 voters