Money On Chain

Basics

• Announced on:
• Mainnet release:

• Project focussed on creating a Maker DAO like system on RSK for Latin America.
• From CoinDesk (12-12-2019):

"Money on Chain, a startup currently in the process of moving to Uruguay and converting into a nonprofit trust, just launched a DeFi platform based on the bitcoin sidechain Rootstock (RSK). The transition to a trust mimics MakerDAO’s Maker Foundation.

“We are going to allow other projects to build the DeFi ecosystem on top of bitcoin,” said Money on Chain co-founder Max Cajurzaa. “We are going to launch lending products on top of Money on Chain, but the ecosystem will evolve. Exactly the same as what happened with MakerDAO on ethereum.”

Diego Gutierrez Zaldivar, RSK co-founder and CEO of IOVLabs, said his team is already in talks with MakerDAO to explore bridges between that ethereum-based platform and this new sidechain project."

Token

Token Details

• From CoinDesk (12-12-2019):

"Like MakerDAO, the Money on Chain ecosystem involves many tokens.

There’s Dollar on Chain (DoC), the dollar-pegged, bitcoin-backed token inspired by DAI; BitPRO (BPRO), which can be used for “passive income” by representing bitcoin fees collected from system users; and Money on Chain tokens (MoC), which are basically voting tokens akin to the Maker Foundation’s MKR. 

Cajurzaa declined to specify who the investors are that already hold these governance tokens. Instead, he noted that there will be a more accessible MoC token sale in 2020, with details to be announced in the coming months. In the meantime, Money on Chain is kicking off the DeFi system with DoC and BPRO tokens.

“When you mint DoC you can say you are selling your bitcoin for DoC, because you are not getting the same amount of bitcoin back. That will depend on the exchange rate,” Cajurzaa said. “In the case of BPRO, that could be considered a loan … but on top of DoC you can also have people lending it to other people, to make trades, for example.” 

Unlike the MakerDAO system, where people lock up collateral with a smart contract and expect to get it back, in the RSK system, people expect to get as much bitcoin back as their new tokens can purchase. That might mean even more bitcoin if they trade tokens advantageously, Zaldivar said.

Stablecoin

• From CoinDesk (22-10-2020):

"Money-on-Chain creates a bitcoin-backed stablecoin, giving Bitcoiners access to U.S. dollar-denominated funds, without having to touch fiat."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on:

Privacy Method being used

Compliance

• From CoinDesk (12-12-2019):

"Much like the DeFi project Uniswap, the Money on Chain portal to the protocol geo-blocks jurisdictions with compliance issues, including the United States, India, China and Egypt. After all, issuing a token advertised as offering “passive income” from a specific system operated by these entities might run afoul of securities regulations in North America. 

In part, Zaldivar said, starting with these geographic limitations are fine because this system was designed for Latin Americans, by Latin Americans."

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Max Cajurzaa; co-founder

Funding

=== Partners ===