Disclaimer: I am not affiliated with any projects related to this post.
Price rigging can be damaging to a society when used by a cartel, that together forms a monopoly. But if used correctly it can protect investors, customers
Recently I got an message from a friend asking me if I am interested in an new crypto-project he found called Standarta. I had nothing to do at the time and decided to take a look at it.
Standarta claims to be a humanitarian project. They claim to give away an arbitrary amount of crypto-currency.
Sadly they do not have a whitepaper, which takes some credibility of their project, but as the website is translated in a variety of languages it can be assumed, that the team behind the project is at least to some degree international.
Now the question arises: What is so special about them?
When registering you are required to agree to not exchange their coin for anything worth less then 1$ US.
This means that the project effectively is a cartel. They rig prices in favor of their own members.
But what is interesting to me is that this could be a more effective way of binding the price of a crypto currency to some fiat currency.
Steem for example tried to do so with SBD, but I think we can all agree on that that did not work properly. (At some point 1 SBD was valued at 10 USD...)
I think the project has an interesting idea behind it and worth keeping an eye on. I however would give it a 30% chance of being a scam, as they currently have an airdrop going, where the want to give coins worth 11000$ US to every new user. Remember however that the price is only dictated by the agreement, so the real value of these coins is unkown.
Also the project is invite only, but if you want to I can send you an invitation. Just leave your email- (or a spamemail-) address as a comment below.
