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What is Constant?
Constant is a burnable, mintable ERC20 stablecoin pegged to USD and 100% backed by a publicly-audited reserve. Developed as the ideal stablecoin, Constant is a stable unit of account, a secure store of value, and an efficient medium of exchange.
Imagine if sending, storing, and managing money was as easy as sending a text message. Globalisation has brought us closer together, our needs have evolved, and yet the global financial system is still stuck in the dark ages.
Constant leverages what works in both the fiat and crypto worlds while stripping out what doesn�t to create a more useful, mobile, global money. You can buy, store, or transfer Constant to anyone, anytime, anywhere, and at zero to low cost.
Constant for everyone:
Say goodbye to volatile markets and economies, and say hello to a stable store of value for your hard-earned money.
Say goodbye to tedious bank transfers that take days to process and cost up to $50 dollars in fees. Transfer instantly, at zero to low cost.
Send, store, and manage your money wherever you go, safely secured by blockchain technology and ready to go when you are.
Don�t be slave to your bank�s opening hours. Constant is always open, no matter what time of day, month, or year.
Manage Constant with just an email address and password. Clear, easy to use interface, with consistent feedback at every step.
Constant for businesses:
Constant payments are irreversible and secure, minimizing the cost of fraud for your business.
Constant can automatically approve transactions once relevant parties have signed them off, creating an efficient and frustration-free sign-off process.
It�s really easy to add Constant to your existing e-commerce site. There are many 3rd party payment processing services that support ERC20 tokens and have stable APIs.
Accepting payments is as easy as scanning a QR code. Simply use your digital wallet to scan the QR code from your customer�s wallet (as long as they both support the common ERC20 standard).
Constant for traders:
Constant is the perfect hedging coin. Protect your gains from market volatility and hedge against losses with the battle-tested stability of the USD.
Use Constant as an alternative to fiat deposits for lower fees and faster transactions. BTC or ETH deposits might lose value, but 1 Constant always equals 1 USD.
Constant for developers:
You don�t need approval from a bank or payment processor. You can just boot up a node and become your own.
You no longer have to store customer information on your server and be responsible for protecting it. The chain itself is the most secure database, immutable and protected from any single point of failure � taking payments is as simple as a few API calls to the blockchain via the web3.js library.
Constant is an ERC20 token, so you can integrate Constant into your existing web and mobile apps via commonly used tools like metamask.
How does Constant work?
An overview of the Constant System
The Constant Trust Vault
For every single Constant that�s minted, a dollar deposit is made to the Constant Trust Vault, an escrow account managed by Prime Trust, a US accredited financial institution. This guarantees Constant�s value and fungibility.
The Constant Trust Vault will accept USD only, but in the future, we plan to add other assets, including, but not limited to, the following:
The decentralized payment network
Constant combines the benefits of distributed ledger technology with the creditworthiness and stability of the US Dollar.
The decentralized payment network is peer-to-peer, operating without central authority or banks. Processing and managing transactions are carried out collectively by the users of the network. Network users handle all payment and settlement, safely and efficiently.
The Constant Foundation
As the founding team that makes initial decisions with regard to the building and running of the Constant System, The Constant Foundation is responsible for UX/UI, monetary policy, and getting Constant into the hands of as many users as possible.
Over time, the Constant System will become increasingly decentralized, so that decision-making powers will ultimately belong to the community at large.
2019 Technical roadmap
2019 Market roadmap
How is Constant built?
Constant is open source at https://github.com/constant-money. The Constant System is built to evolve with the community, so it is open and transparent to the public.
At the infrastructure layer, Constant is built on top of the Ethereum network to enable payments, and Prime Trust API, for escrow.
On the backend, Constant includes a number of smart contracts for minting and burning Constant. It also includes off-chain components to provide better UX. Finally, it includes a set of developer APIs to enable developers to integrate Constant into their products.
On the frontend, Constant provides both web and mobile interfaces. We hope that over time, more web and mobile apps will be built with Constant.
Get involved today!
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