Platinum Engineering

Platinum Software Engeenering

Q DAO ecosystem

The blockchain-based Platform to generate cryptocurrencies pegged to local fiat money

STATUS: Finished


Noah Foundation is a founder-company of the Noah Project — blockchain ecosystem focused primarily on enhancing the Japan-Philippines trade and market. It aims to bridge the gap between Japanese and Filipino citizens, travelers, and businesses.

Noah Foundation was searching for a cost-effective remittance system solution for the Philippines residents. Stablecoins ecosystem became that solution. It could provide a robust alternative to fiat money. The management team realized the global potential of stablecoins as the project developed. The diversification of assets became a main point of interest, since 90% of the capital allocated within the traditional financial systems. Growing demand for other products within the ecosystem pushed the idea of safe crypto assets storage.


Stablecoin is a cryptocurrency pegged to fiat money (e.g. USD) or other commodities like precious metals, etc. The main advantage is the minimum level of volatility, in comparison with other cryptocurrencies. Each stablecoin is backed by a constant amount of real assets. In the case of USDQ, this is the US dollar, with a ratio of 1 to 1.

Stablecoins help to protect against losses during a falling market without converting funds into fiat money. Stablecoins also help keep assets safe, taking full advantage of blockchain technology.

The team faced the task of creating a competitive product for the market given the demand, innovation, and benefits of stablecoins.

Business Requirement

The client acknowledged the gap in the stablecoin market with problems plaguing the most digital assets. The Q DAO management team researched stablecoin’s inability to back themselves with enough physical assets. Since a centralized third party maintains the assets, the entire system is centrally controlled, increasing the chances of failure.

Noah Foundation has to operate within different markets. So they wanted to create an ecosystem of stablecoins pegged to different fiat currencies. Self-market regulation function and algorithm-based technologies have to solve the backing function of stablecoins, instead of traditional ones. The ecosystem should also support the creation of new stablecoins by users.


The expert team of engineers at Platinum Q DAO Engineering created the Q DAO Platform, a decentralized stablecoins ecosystem. USDQ and KRWQ, the first two stablecoins developed by the team, are pegged to the US Dollar and the Korean Won, respectively.

The system envisages the use of Bitcoin as collateral for USDQ (KRWQ), i.e., users need to lock up their Bitcoins in the system to create USDQ. USDQ is a fully decentralized stablecoin compared to other blockchain solutions on the market.

The KRWQ also works in a similar manner but is pegged to Korean Won. The development team will bring out many other stablecoins - like CNYQ (pegged to the Chinese Yuan, or Renminbi) and JPYQ (pegged to the Japanese Yen) - in the near future.

Any individual can purchase and sell USDQ via exchanges, brokers or OTC deals. It is an ERC20 token and offers convenient and easy transfer.

Q DAO is a blockchain platform, integrated with Ethereum smart contracts. It provides a number of enablers for the sustainability of the generated stablecoins, such as collateralized debt positions (provided in the system), automated price adjustment processes with feedback mechanisms, as well as a system of incentives for external actors.

The system envisages an option to generate stablecoins (USDQ, KRWQ, and others) by any person who has Bitcoins at their disposal. Subsequently, these ERC20 tokens can easily fulfill a wide range of functions, acting similar to other cryptocurrencies. Among the biggest use cases are:

- cross-border value transfers;
- payments for goods and services to accepting businesses;
- long-term savings;

The system has one more global idea. QDAO will act as an internal governance token within the ecosystem. QDAO coin will be used for paying the fees required to exchange back Bitcoin (that was locked as collateral) by handing over the stablecoin. Whenever the fees are paid, QDAO will be burned, which only leads to supply reduction.

The second and more important use of QDAO will be participating in the governance of the entire ecosystem. All QDAO holders tokens are entitled to participate in voting interface regarding potential changes within the system. Users will be motivated to thoroughly review the proposals and vote only for the most promising because the profit of each participant will depend on the system sustainability.

Moreover, the stablecoin generation system sets the foundation for a highly convenient and robust margin trading platform.


  • Intuitive and user-friendly websiteThe main website of the ecosystem explains the working and features of the entire ecosystem and its organization.
  • Bounty and OTC dashboards – Simple, yet informative, dashboards to visualize details of bounty campaigns and OTC sales.
  • Real-time Explorer – A state-of-the-art explorer to see transactions in real-time.
  • Next-level security – Highly secure blockchain-based system to manage stablecoins and collateralized assets.
  • Blockchain tools – A set of intuitive and powerful tools to operate with governance coin.