据了解，该项目是由Rate团队创建的，并宣称自己是新加坡首个以新加坡元为支持的稳定币项目。2018年，该团队通过ICO筹资1500万美元，投资方包括Matrix Partners（中国）、Node Capital和FBG Capital以及Fenbushi Capital创始人Bo Shen。
SGDR利用Rate的Rate3网络标记化和跨链身份协议。 Rate3 Tokenization Protocol是用于在以太坊和Stellar上进行标记化的端到端协议，而Rate3身份协议则是用于创建和管理统一的交叉链身份的协议。
总部位于新加坡的加密货币创业公司Mars Blockchain上周在交换平台Kryptono Exchange和Top.one Exchange上宣布推出其稳定币1SG。与SGDR一样，1SG与新加坡元挂钩，目标是优化现有稳定币（如USDT、TUSD和USDC）的短缺。
A new stablecoin project called Singapore Dollar Rate (SGDR) has launched in Singapore.
Created by the team behind blockchain startup Rate, SGDR is said to be the first Singapore dollar-backed stablecoin, “guaranteeing users full redeemability for Singapore dollars on demand,” according to a company’s FAQ. Rate raised US$15 million in an initial coin offering (ICO) in 2018 that saw participation from Matrix Partners China, Node Capital, and FBG Capital, as well as Fenbushi Capital founder Bo Shen.
The newly launched SGDR is targeted at investors for trading and hedging purposes for their digital asset portfolio. Further down the road, the company says it sees more complex use cases including micropayments, event-driven payments and even machine-to-machine payments between Internet-of-Things (IoT) devices.
SGDR is backed by Singapore dollars, one of the eleven countries worldwide with a AAA sovereign credit rating by Standard & Poor’s, as of 2018, Rate claims.
All Singapore dollars are managed under an escrow account controlled by an independent Monetary Authority of Singapore-licensed trust company. Rate says the arrangement will later evolve into a full legal trust with the trustee undertaking fiduciary duties in ensuring token holders have legal beneficial ownership of the Singapore dollars as represented by SGDR tokens.
SGDR is not a licensed or registered under the Singapore Securities and Futures Act and is currently only available in closed-beta to accredited, expert or institutional investors.
SGDR leverages Rate’s Rate3 Network tokenization and cross-chain identity protocol. The Rate3 Tokenization Protocol is an end-to-end protocol for tokenization on both Ethereum and Stellar, while the Rate3 Identity Protocol is a protocol to create and manage a unified cross-chain identity.
Stablecoins have been all the rage in 2018 with many projects launching throughout the year. A stablecoin is a cryptocurrency that’s price is pegged to a real-world asset like gold or the dollar, providing the technological benefits of cryptocurrencies minus the price volatility.
Cryptocurrencies are notorious for their extreme price swings, leading critics to say that these are speculative investments rather than currencies or assets. The 2018 cryptocurrency crash, for instance, saw bitcoin fall by over 80% between January 2018 and November 26, 2018.
Stablecoins are an attempt to harness the benefits of cryptocurrencies, including low costs, fast transaction speeds, 24/7 settlement of funds, fractional ownership and programmability, and combine them with the stability and trust in mainstream currencies.
The launch of SGDR comes at a time when a number of stablecoin projects are being launched in Singapore.
Singapore-based cryptocurrency startup Mars Blockchain announced last week the launch of its stablecoin 1SG on exchange platforms Kryptono Exchange and Top.one Exchange. Like SGDR, 1SG is linked to the Singapore dollar with the goal to optimize the shortage of existing stablecoins such as USDT, TUSD and USDC.