Get to know decentralized exchanges and the USDC stablecoin

The new beta version of the light wallet opens up new opportunities for us. Chia Offers — is a decentralized peer-to-peer (p2p) trading on the Chia blockchain.  This is an independent object. The main advantage of the system «Chia Offers» is that it does not depend on a third-party smart contract like Ethereum, or market makers.Chia Offers is such a simple yet convenient mechanism for trading. Let’s take a look at how it works.

The seller uses the Chia wallet to create a new «Offers»offers, for example, to sell 1 XCH for 100 USDC — a new stablecoin from Chia backed by the US Dollar, more on this below. After creating the offer, a file with the contents of the transaction will be given. This file can be published anywhere in the social network and sent by mail. The buyer who will be interested in your offer will simply download the file and confirm the transaction via the network.  Which is very convenient and anonymous.

You can use offers with several third-party platforms that have already been integrated into the beta version of Chia Light Wallet.

Hashgreen is a new decentralized exchange (DEX), recently launched and is in beta. The exchange is a classic-style order book consisting of offer files.

Offerbin — has similar functionality is easy to use, design in the style of PasteBin.

Other platforms, such as Tsunami.network, are being developed by an energetic third-party community and are expected to be launched in the near future. There is also a Keybase group called chia_offers , in which traders can make quotes and publish offer files. 

Launching this week stable coins Stable USDS will help users to easily exchange Chia XCH for fiat money in the form of USDC dollar. Users can open Stable Prime Trust account , buy US dollars without commission, withdraw these US dollars to the Chia wallet for $1 commission, and then make trading offers. USDS for XCH in various ways specified above.

Some interesting facts about Chia Offers:

• The seller or buyer does not need to transfer or block their funds to a third party.
• Sellers, makers may change their mind and cancel the transaction
• Freely distribute your offer by placing it in several places at the same time.
• Offers may include multiple assets in one offer, for example, to offer XCH and USDS in exchange for Spacebucks and Marmotcoin.

What’s next?

Chia Offers are cool, but this is just the beginning. What can you expect from offers in the future? Expect the appearance of third-party wallets supporting offers in the near future. For example, a Metamask-style browser extension wallet (for example, Goby.app!) will facilitate the exchange between buyer and seller on the site. He will initially integrate the offers into the web DEX, reducing the actions of the Taker (Buyer) to one click of the offer in the order book and its instant acceptance from the browser.

Over time, more sophisticated use of offers will automate the Maker and Taker functions, aggregate demand and lead to better price discovery and market depth. When NFT is launched on Chia, buyers will be able to place bets and buy using offers, with zero counterparty risk and without intermediary commission. Offers may include online auctions and sales of Chia (CAT) asset tokens for everything from carbon credits tracked in the World Bank data warehouse to NFT, utility token sales or traditional financial assets such as bonds, mortgage-backed securities, and more.

Check out the offers today by downloading beta version of the Chia light wallet, post some suggestions and share your thoughts in our public key database .