Frequently Asked Questions
General Questions
What is a Public Benefit Corporation (P.B.C.)?
How does borrowing work?
Borrowers select the amount they want to borrow, repayment amount, repayment period and interest. This is entered into a short term auction against other potential borrowers. The automated underwriting system then tiers and weights the bids based the entered parameters and reputation score/ranking. The winners of the bid will then receive the balance in their account.
Based on this agreement, the borrowers will then get notifications and alerts about repayment.
Why do I need to authenticate myself before I borrow?
What happens if I can't pay the loan back in time?
Is Denarii a "stablecoin"?
Instead of the pursuit of artificial stability, the Denarii value is a result of the responsive impact generated from micro-lending. The returned interest from these activities demonstrates the execution of some good or service that can be drawn back into the valuation of the Denarii. While most cryptocurrencies are not able to demonstrate the type of transaction occurring, the Digital Reserve Network presents an elegant way of evaluating the transactional value on a portion of the network. This value can then be used to provide a baseline of the Denarii valuation.
The Digital Reserve Monetary Policy uses interest feedback rules to create a responsive system while still providing transparency and strict monetary controls. This strict monetarism provides a solution that places the people at the center of the system versus banks and other institutions.
How does minting work?
The process for minting is relatively simple. After creating a wallet, minters create a special transaction to place funds into the reserve, as collateral. Minters then either select the default minting fee rate or a higher amount per block. The final step is selecting the the duration period of staking. Then let the program run.
During the period the minting fees will be deducted according to the parameters and minting rewards assigned in a randomized lottery. Rewards are weighted based upon the percentage of funds assigned as collateral by the individual minter vs all the simultaneous minters. This reward is also modified by the minting fee assigned. A greater minting fee corresponds to a bonus/increase in the likelihood of winning.
Because there is at least 1 block per second, rewards are distributed 100s of times more frequently than most existing cryptocurrencies.
What is the transaction time?
What is the roadmap?
The following is our vision, but it is subject to change:
Late June / Early July 2018 – First Major UX Interface.
September 2018 – Testnet V1
December/January 2019 – Testnet V2
February 2019 – Institutional Plugins
April/May 2019 – MainNet Launch and Denarii Issuance/Distribution
October 2019 – Multi-Signature CryptoWallet Insurance Pools
Given Proper Funding – Establishment of Decentralized Finance Lab
February 2020 – Lending Daps
July 2020 – Lending Wallet Dapps
2021 – Integration with Institutions and Interoperability Applications
2021 – Launch of Decentralized Microlending Marketplace
2022 – Upgrade of Post Quantum Signatures – Scheduled Hard Fork