SSTeeter – SEMI-STABLE TEETER

SEMI-STABLE TEETER

Semi-Stable Teeter (SST) combines the advantages of a Stable and traditional token, offering a base price for investors. As so, investors can mitigate their market risk and gain return on their investment.

SST also can instantly be converted to fiat currencies for purchase, ATM withdrawals, and bank transactions through its WorldSPay payment system. The payment system fully protects users from any limitations and risks, which are the shortcomings of traditional financial systems.

USDT versus SST

No	Capabilities	USDT	SST
1	Own platform	www.tether.to	www.ssteeter.io
	Mint/burn protocol	Yes	Yes
	Transparency(auditing)	Yes	Yes
2	Banking system	No	www.wspay.io
	Merchant POS terminal module	No	Yes
	Crypto module	No	Yes
	Visa/Master card	No	Yes
	Exchange Module(with 500+ crypto currency liquidity)	No	Yes
3	Token type	Stable	Semi-Stable
	Pegging with USD	1:1	€1 base price
4	Blockchain	Omni	TRC20
5	Total market capitalization	$79 billion	€110 (test)
	24h volume	$22 billion	€ 0.00
	Expected 24h volume for first 6 month		€100 million
	Expected 24h volume for first year		€1 billion

SST TOKEN

SST issuing, redeeming and base-price pegging shall be conducted and maintained through our WorldSPay payment system and www.ssteeter.io website. The SST base-price shall be always equal to 1 EURO. The WorldSPay is a comprehensive and complex full-banking system with a mobile application and payment card that holds a special license for a combination of traditional banks, crypto exchanges and international payment card systems. The ratio of SST and its base-price on this system and the web wallet shall always be 1:1 and corresponding fiat fund shall be deposited in our bank account and publically reported. This shall allow users to withdraw fiat money and make purchase by converting each SST they own through the payment system and web wallet at base-price of 1 EURO. The base-price shall be maintained only at the WorldSPay payment system and www.ssteeter.io.

The total token supply is limited by total fiat reserves in our bank account, and the users can trade their SSTs purchased at base-price from the WorldSPay and our web-platform on the crypto exchanges at the market price.

SST Technology Stack

Description of each layer:

The first layer is the Tron blockchain and SST transactional ledger is included in the Tron blockchain as SST own system.
The second layer is SST own smart contract which has following functions:

To issue (mint) and burn (redeem) SST.
Track and report the circulation of SST.
Enable users to transact and store SST and other assets/tokens

The third layer is WorldSltn.Ltd which is primarily responsible for:

Accepting fiat deposits and issuing the corresponding SSTs.
Sending fiat withdrawals and revoking the corresponding SSTs.
Custody of the fiat reserves that back all SSTs in circulation
Publicly reporting Proof of Reserves and other audit results
Operating ssteeter.io webwallet which allows users to purchase, send, receive, store, and convert SSTs to fiat conveniently.

Flow of Fund Process

Steps:

User deposit fiat currency into WorldSltn.Ltd bank account.
Ltd generates and credits the user’s SST account. SST enters into circulation. Amount of fiat currency deposited by user = amount of SSTs issued to user (i.e. 10,000 EURO deposited = 10,000 SST issued).
Users can transfer, exchange, and store SSTs via ssteeter.io webwallet.
Users deposit SSTs in ssteeter.io web-wallet for redemption into fiat currency.
Users also can use their WorldSPay visa and master card which is accepted in 168 countries worldwide in order to withdrawal fiat and make purchase instantly.
Ltd destroys the SSTs and transfers corresponding fiat currency to user’s bank account.

Proof of Reserve Process

SSTeeter’s Proof of Reserves configuration is novel because it simplifies the process of proving that the total number of tethers in circulation (liabilities) are always fully backed by an amount of fiat currency (base-price pegging) in reserve (assets). In our configuration, each SSTeeter in circulation represents one EURO held in our reserves which means the system is fully reserved when the sum of all SSTeeters in existence (at any point in time) is equal to the balance of EURO (calculated multiplying all SSTeeters by base price) held in our reserve. Since SSTeeter is on the Tron blockchain, the provability and accounting of tethers at any given point in time is trivial. Conversely, the corresponding total amount of EURO held in our reserves is proved by publishing the bank balance and undergoing periodic audits by professionals. Find this implementation further detailed below:

Transparency:

All SST transaction history, issued, redeemed and existing Teeters information are publically available:

The total number of SSTs in circulation at any given time be calculated by below equation:
1. TSST = TSSTissue-TSSTredeem.
TSSTissue is total number of SSTs issued ,
TSSTredeem is total number of SSTs redeemed
Ltd has a bank account which will receive and send fiat currency to users who purchase/redeem SSTs directly with us.
1. The balance of the account shall be calculated by below equation:
  - TEURO = TEUROdepo – TEUROwith.
2. TEUROdepo is total amount deposited into the account
3. TEUROwith is total amount withdrawn from the account
Each SST shall be backed by fiat deposit which is equal to base price. The solvency ratio shall be maintained as below solvency equation:
1. The solvency equation: TSST = TEURO (it shows that total property tokens are equal to daily bank account balance).
2. Every SST issued or redeemed shall be publically reported on Tron blockchain legder. Corresponding bank deposit and withdrawal of fund shall be publically reported as well.
3. The provability of TSST relies on the Tron blockchain as discussed previously
4. The provability of TEURO will rely on several processes:
  - We publish the bank account balance on our website’s Transparency page.
  - Professional auditors will regularly verify, sign, and publish our underlying bank balance and financial transfer statement.