DeCash tokens
DeCash tokens are multi-currency stablecoins backed by DeCash. It means that users holding DeCash tokens like USDD, which represent United States Dollar, hold the same amount of fiat currency (USD), which they can withdraw by selling their DeCash tokens on one of the exchanges in which DeCash tokens are listed.
Technically, DeCash tokens use Algorand blockchain. Each individual DeCash token (USDD, EURD, etc) is an Algorand Standard Asset (ASA). Read more about why DeCash has chosen Algorand, its specifics and assets on the Algorand Ecosystem page.
Why DeCash tokens are unique
Unlike other stablecoins, DeCash tokens abstract the complexity of the blockchain away, still allowing you to control your assets without centralization. Read more about DeCash.
Most importantly, DeCash abstracts the transaction fees you typically need to pay in the other cryptocurrency, like Ether in Ethereum or Algo in Algorand. Instead, when using DeCash tokens you pay fees in DeCash tokens itself: for instance, by transferring 100 USDD tokens, you will pay a fixed 0.01 USDD in fees.
DeCash also combines the simplicity with strong security, making you to be the only person who holds private keys from your accounts. You manage your crypto wallet on your own, while DeCash just provides you with tools to transact and work with DeCash tokens, represented by DeCash API and Delegated Wallets.
Token addresses
Here is the list of DeCash's tokens in the main Algorand network:
- CFHD (asset ID
445924570) - EURD (asset ID
445907756) - GBPD (asset ID
445935868) - USDD (asset ID
445925266)
The following tokens are used in the test Algorand network:
DeCash also issues tokens on Ethereum, however, due to high transaction fees they aren't used for transactions. You can find the list of Ethereum-based tokens here.
Token opt-in
warning
In the DeCash ecosystem, when using DeCash API and delegated wallets, the opt-in procedure is handled for you by DeCash API. Read more in the API section.
If you even need to send DeCash tokens from delegated wallets to a regular Algorand wallet, you would need opt this token into using DeCash assets. This is required by Algorand as DeCash tokens built on top of the Algorand blockchain. Before performing manual opt-in you will need to have some Algo on that wallet.
Read more about how to opt-in to DeCash tokens.