You can use most common stablecoins when setting service fees for new smart contracts.
Most common stablecoins & why?
Stablecoins are the best option for payments of service fees since they try to keep critical 1:1 ratio to the underlying fiat currency (eq USD or EUR) all the time. So, you can have a peace of mind that from day to day wild swings of ETH (/ Matic, etc) are not changing your customer’s facing fees dramatically (/ your net risk of wallet). Only thing you need is enough selected stablecoins in your crypto wallet to start using them.
Selected stablecoins in detail
Home Browser has selected accepted stablecoins carefully based on their general popularity & availability from markets of crypto exchanges. Here is a short list that tells more about them.
- USDC – This is crypto world’s the 2nd popular stablecoin and has a long history of existing. Its liquidity is excellent and shaking against USD’s fiat has been small. It is backed up against cash like assets that are audited regularly by 3rd party. The latest trend is growing this bigger than nro 1.
- Private management by CIRCLE.
- USDT – This is the 1st popular stablecoin on the world and has also a long history of staying out there public. Liquidity is excellent and shaking against USD sometimes just a bit stronger than the 2nd challenger above. It is also backed up by cash type of assets that are audited by 3rd party.
- Private management by Tether.
- DAI – This is the most popular & successful stablecoin when it comes to not cash backed coin based on Ethereum’s smart contracts. This coins software keeps its value stable by trading automatically its minted pool of coins against other crypto assets. Its history has shown pretty good stability by this taken approach against real USD. This is more complicated model than cash backed stablecoins that has also lead its much smaller market cap & amount of holders on their wallets.
- Private management by MakerDAO.
- EURS – This is a rising stablecoin that is bringing them available against real EUR fiat. Its history is shorter than previous ones but the liquidity is strong. The most limiting factor is that the coin is not listed on the biggest crypto exchanges and so your customers may have a challenge to get them into their wallets even when you select to use it for own service fees.
- Private management by STASIS.
There you have it briefly ! Now you can take your own preferred choice which stablecoin to use for service fees with customers next. Be smart when you make this important decision.
Requirements for use of deals
In order to use smart contracts on Home Browser you need to have:
- Enough stablecoins in the crypto wallet (MetaMask) from the list above.
- Some amount of chain’s own native crypto for gas of smart contracts (ETH / Matic).
You should select used stablecoin based on how popular it is among your own customers & co-operating other partners.
Your customers can also take a part of deal easier when you print & create your smart contracts on Ethereum’s mainnet but the mainnet of Polygon (running by Matic crypto) is a good choice too when you want to have minimal transaction fees + super fast transactions. However, this is much cheaper but technically more challenge to get your funds and your customers there is obvious.
Learn little more
Very deep & recommended source for current info of stablecoins on market today: