"briefly about coin"

"OverGold is a coin that is secured by stablecoins chosen based on their reliability and popularity in the crypto space."

"OverGold has two main benefits:"

"OverGold is an algorithmic stablecoin that uses the best of blockchain technologies. The coin itself is built using COSMOS SDK technologies, just like the Atom coin, which represents the COSMOS ecosystem."

"Integration with 1Inch and Open Ocean allows OverGold to be independent from centralized exchanges. And eliminate the risk of blocking or delisting on one or another exchange. And also get the opportunity to sell or buy more than 1.8 thousand different crypto assets in 2 clicks."

"Each OverGold coin is currently backed by USDT/USDC/PaxGold/DAI, however this asset structure can be changed if voted on by the community using the DAO. “Technical board” can change the proportions of a particular coin in the reserve portfolio if a risk is detected in any asset. This allows you to flexibly manage risks and respond to the changing world of cryptocurrencies."

"For example, if tomorrow the risk of blocking USDT increases, then by voting all OverGold holders and collecting the required number of votes, the technical council can reduce the share of USDT to 5% or completely exclude it from the portfolio of reserve assets."

"Considering that no artificial intelligence can analyze fundamental market events, the ability to influence the composition of coins for the reserve with the help of DAO is a good mechanism to take into account global risks."

"In addition to the above advantages, the OverGold coin allows its owners to receive passive income from staking and from storing the coin in their wallets."

"The income from storing coins on the wallet arises by burning a part of the commission fee that is used in each transaction. Thus, due to burning - coins are constantly becoming more expensive. The percentage of appreciation is not large, but in the long run it allows you to have a stable income."

"Staking reward - allows you to receive increased income from each transaction by distributing part of the commission fee among all holders of staking coins."

"In general, the advantages of technologies in combination with a transparent model of securing the coin with reserve assets allows you to store crypto-assets securely without worrying about their safety and also receive additional income due to OverGold deflation."

"It's no secret that cryptocurrencies are rapidly conquering the world of finance, blockchain is the technology that has made it possible to create an electronic digital asset suitable for paying for goods and services. Digital currencies are our future, which will inevitably come tomorrow."

"If you look at Coinmarketcap, you will find about 10,000 different cryptocurrencies there, and all these currencies are subject to volatility. Only 1% of all these projects is working on the creation of stablecoins. And today the TOP-3 cryptocurrencies are closed by USDT."

"A centralized crypto asset that is managed by a specific company. Many of you probably have already heard about the future predicted by USDT, and what catastrophic consequences await us if the regulator imposes a restriction or prohibits the use of USDT, this will lead to a market crash, as the ability to enter stable, low-volatility assets pegged to the dollar - become much more difficult."

"This is a small example of how centralization can affect the crypto asset market. The volume of bitcoin trading today is about 50 million dollars a day. Users buy the most popular cryptocurrency in a bull market and sell by buying stablecoins in a bear market. And in order to diversify the risk by buying assets, users use USDT, USDC, DAI and other coins for this. Overgold does this automatically."

"If a user buys OverGold for a cryptocurrency that is not included in the list of reserve cryptocurrencies, the system automatically sells it on DEX (decentralized exchanges) and buys USDT, USDC, DAI and Pax Gold in a certain proportion, diversifying the risks of cryptocurrency holders."

"Thus, each OverGold coin is secured by a set of stablecoins. And at any time, the user has the opportunity to exchange OverGold coins for one of the reserve coins (USDT, USDC, DAI, etc.) and sell it on any centralized exchange. In addition, users who store OverGold coins receive passive income. Since OverGold is constantly rising in price."

"It becomes more expensive due to the fact that part of the FEE from the transaction is irretrievably burned. Thus, the rate of the coin grows a little, which increases the price of the coin with each transaction. Also, the OverGold coin is not just a coin - it is an ecosystem which develops and grows."

"The larger the ecosystem, the more in demand the coin. The more in demand the coin, the more transactions in the network will be made. The more transactions, the higher the rate of the coin."

"As mentioned above, we are striving for the complete decentralization of our coin, and that is why a mechanism has been created that allows you to purchase stablecoins automatically, which act as collateral for OverGold coins."

"The OverGold coin collateral reserve consists of a number of stablecoins that secure all available circulating coins on the network, backing them with other stablecoins, notably the Tether Gold and Pax Gold reserve, and the remaining 50% in the other 8 stablecoins."

"At the same time, a mechanism for analyzing rates has been developed in our system, and if a stablecoin behaves unstable at the rate, the system automatically reduces its weight, replacing it with another more stable one. The number of different cryptocurrencies will gradually increase for more and more diversification of risks."

"Our goal is to diversify the risks of holding stablecoins and realize the possibility of passive income from staking (Staking is a mechanism that rewards users for blocking their coins or tokens for a certain period of time)."

"The purchase of stablecoins, which are secured by the OverGold coin, occurs after receiving user payment. The system is designed in such a way that when receiving payment in a third-party cryptocurrency, the system automatically exchanges it for one or more reserve stablecoins (which OverGold tokens are secured by). The system stores them and constantly updates or replaces them in order to stabilize the OverGold rate."

"OverGold" " is a system of modules designed to improve:"

• "stablecoin functionality"
• "ensuring its functionality with the outside world"
• "functionality that will expand the capabilities of the coin, giving it flexibility and functionality"

"The project structure has the form of a multi-level architecture. The ecosystem consists of blockchain nodes implemented on the Cosmos SDK (a framework that greatly simplifies the process of creating applications)."

"Part of the back-end is implemented on Go. Most of the functionality is based on services created by our team for integration with external modules, such as:"

• "OVG Pay"
• "Bridge"
• "Cashback"
• "Deferred payments (implemented on the back-end as separate applications)"

"The front-end functionality of our system is built using React (an open source JavaScript library for creating user interfaces)."

"The modules available in the system and their capabilities will be described below. Our community is constantly developing new features for the system and does not stand still."

"overgold rate"

"The OVG token rate is formed from the total value of stablecoins in the reserve divided by the total number of OVG. Each user can buy/sell/exchange/transfer OVG tokens to another user."

"For each transaction, the system charges a commission of up to 1% of the transaction amount (for more details, see Transaction Fee). The distribution of the withdrawn commission occurs according to the principle:"

"Staking"

"Staking (stOVG) is a way to receive passive income from investments in cryptocurrencies based on the Proof-of-Stake (PoS) consensus algorithm and its varieties."

"The staking module provides for the possibility of investing user funds in system assets with the possibility of receiving rewards proportional to the investment."

"The system provides for the possibility of receiving passive income - an interest of transactions. To do this, the user needs to send his OverGold coins for staking. Thanks to such an operation, the user-holder of coins on staking will receive rewards from the amounts formed as a percentage of the commission of each transaction in the amount of 0.5%. Once a day, the system distributes the total amount among all staking coin holders in proportion to the number of coins in their possession."

"It is possible to withdraw coins from staking by transferring them from staking to a redemption account. From the redemption account, the coins are unfrozen for all participants in proportion to the coins on this account. If a user has withdrawn coins to a redemption account, there is always a possibility to get them back to staking."

"The number of coins in a staking account is limited to 100 million stOVG. If this limit is reached, then you can transfer to a staking account only if the corresponding amount is present in the redemption account."

"Coins on staking and on redemption accounts do not participate in the formation of the coin rate."

Transaction fee

In our cryptocurrency network, the transaction fee is deducted directly from the amount sent according to the established tariff schedule, which ensures transparency and efficiency of transactions. For example, when sending 100 coins, the actual amount received by the recipient will be 99 coins, where 1 coin acts as a transaction fee.

Separately, the sender is responsible for paying for the gas required to process the transaction on the blockchain. This is a fee for using network resources to ensure the execution and confirmation of a transaction. Thus, the payment structure includes both commission and gas fees, optimizing the transaction process to achieve a balance between service availability and network maintenance.

		Commission if available >100 stOVG	Commission if available >1000 stOVG
Reward from the referral program
Up to 100 OVG	1%	1%	0.9%
Up to 500 OVG	0.9%	0.9%	0.85%
Up to 1000 OVG	0.7%	0.7%	0.65%
Up to 10,000 OVG	0.5%	0.5%	0.45%
Up to 100,000 OVG	0.2%	0.2%	0.15%
From 100,000 OVG and above	0.1%	0.1%	0.05%

"OverGold has a universal module for payments in online stores with the ability to integrate via API."

"The module has the following features:"

• "Installation on platform stores: Opencart, Woocommerce(WordPress)"
• "Creation of the “store” entity in the OverGOLD PAY admin panel, which makes it possible to associate payments with a specific store or user service"
• "Different payment methods for goods:"
• "Payment with OverGold cryptocurrency."
• "Other cryptocurrencies. Conducting transactions in cryptocurrencies:"
• "Tether (USDT)"
• "Stellar (XLM)"
• "Ethereum (ETH)"
• "Binance Coin (BNB)"
• "Referral program income. The ability to receive 0.25% of each incoming transaction of the store connected by OverGold users."
• "Receive funds to your account instantly. The system immediately transfers the buyer's funds to the seller's account."

"smart contracts"

"A smart contract is a computer analogue of conventional contracts, a special program (algorithm) that performs certain actions when the parties to the agreement fulfill certain conditions, for example, sends money to the seller when the goods are delivered to the buyer of proper quality."

"Smart contracts provide an opportunity to securely exchange cryptocurrency, money, securities, as well as other goods and services directly between the participants in the transaction, without the participation of intermediaries."

"The elements of a smart contract are:"

• "The parties of the transaction which have digitally signatures who agree or refuse from the conformity of the product or service to the previously put forward requirements"
• "The subject of the contract is the goods or services that will be sent in exchange for cash"
• "The conditions under which an automatic exchange of goods will be carried out, for example, if the goods supplied meet quality standards. Еhey must have a complete mathematical description"
• "A decentralized platform in which the algorithm (program code) of the smart contract itself is written"

"OverGold implements support for two types of smart contracts based on CosmWasm and Ethereum. This will allow using existing smart contracts written earlier by other companies."

"These smart contracts can be uploaded to our network and used for their specific purposes, such as creating their own custom tokens, voting, etc."

"This is a user-friendly solution for inviting new users, for advertising campaigns, any events for sending coins to a user to a phone number that has not registered a wallet yet."

"Deferred payments work on the principle of receiving funds immediately after registering a new wallet to a given phone number. Sending your OVGs to a phone number is as easy as making a regular wallet-to-wallet transfer."

• "An existing user invites a new one who does not have an account yet, motivating him by the fact that funds will be immediately credited to his account after registration."
• "An existing user transfers a certain amount of OVG to a special account and saves a link that a new user must follow in order to receive funds to their wallet after registration."

"The mechanism of work at the internal level:"

1. "To create a transfer, you need to perform a normal OVG sending to the desired phone number."
2. "The front-end requests the wallet by the user's phone number, if there is no such user, then the corresponding response code and the address of the transit wallet are returned."
3. "At the same time, if the user with such a phone number has not previously been registered in the wallet, the user will see a notification: “Attention! No wallet has been registered for the specified phone number yet. Check if the number is entered correctly. If the phone number is correct and the recipient does not have a wallet, then the funds will be credited after the recipient has registered.”"
4. "The user signs the transfer to the transit system wallet."
5. "After successful sending, the user sees a notification: “Payment completed successfully. To receive a transfer, the recipient must register or follow the link. And buttons: Copy Link, OK."

1. "The recipient follows the link and sees his number, the transfer amount and the Receive Transfer button."
2. "The user enters the registration and goes through the entire process of registering an account."
3. "After the user has registered, the system creates a transfer from the system wallet to the recipient's wallet in the amount of 99% of the total transfer amount."
4. "After entering the wallet, the user sees the incoming transaction to his wallet. 1% commission fee is removed from the total amount of the transaction."

1. "The user opens a page with a list of transactions (for example, Main)"
2. "Sees a transaction with the Deferred Payment type"
3. "Press the More Details button"
4. "Front requests the Deferred Payments claim by hash of the transaction"
5. "The user sees a pop-up form with information about the deferred payment:"

• "Recipient's phone number (if specified, one of the phone number or email fields must be filled in)"
• "Recipient's email (if specified, one of the fields with phone number or email must be filled in)"
• "Date of automatic cancellation of the request (only for orders in processing, this field is not displayed for canceled or completed orders)"
• "Request status"
• "Request creation date"
• "Comment"
• "Transaction No.1 hash (transaction hash for transferring funds from the sender to the system wallet)"
• "Transaction No.2 hash (transaction hash for transferring funds from the system wallet to the recipient's wallet)"

"Every cryptocurrency that exists on the market must be able to be bought, paid for and exchanged. Therefore, within the ecosystem, a resource has been developed for exchanging OVG for other cryptocurrencies and vice versa. Each user of the system will be able to exchange Overgold coins for coins of other cryptocurrencies with a minimum commission fee."

"The service is user-friendly. We are constantly working on its improvements, expanding the list of cryptocurrencies to be exchanged. The exchange service is integrated with the DEX aggregator (Decentralized Exchanges based on blockchain technology). All operations are decentralized, safe and fast."

"To use the exchanger, the user must:"

1. "Deferred transfer in the list of transactions"
• "OverGold wallet"
• "MetaMask wallet"
2. "Select coins to exchange"
3. "Press the Exchange button and confirm the transaction data."

"With such a fairly simple method, in just a few clicks, each user has the opportunity to exchange cryptocurrencies."

"Referral program registration:"

1. "When going to the link, after confirming the phone number, the referral user does not see the field Specify Your Referrer Code."
2. "If the user registers not using a referral link, but knows the phone number of his referrer, he can specify it in the Enter Your Referrer's Phone Number field."
3. "If, during registration, the code or phone number of the referrer is incorrect, the user will see a notification “The phone number of the person who has invited you is incorrect. Please check your input or leave the field blank.“"
4. "Upon successful registration using the referral link, a record is added to the referral's account in the blockchain with the referrer's address."

"The Voting module is needed so that any owner of Over Gold coins (OVG, stOVG) has the opportunity to participate in voting that determines the further course of development of the platform."

"Voting results will be updated once an hour. At the end of voting, the share of votes of each user is determined and the final result is shown."

"Voting process:"

1. "Each user has the opportunity to propose a particular subject for voting (for example, voting on the subject of changing the stablecoins that our OVG coins are secured by)."
2. "The subject/subjects that receive the most support among the community will be put forward for a general vote among users who have coins."
3. "When creating a voting, the following items are set:"
4. "During voting, the user can select only one variant from the represented list of variants. Each user remains anonymous when choosing."
5. "When a user voted with one OVG/stOVG balance on the account and before the end of the voting it changed, then upon completion of the voting the weight of the vote will be calculated based on the amount that was in the account at the time of the final recount of votes. The weight of the vote is equal to the sum of coins in the regular and staking accounts."
6. "When, after the completion of the voting, the number of votes relating to each variant is counted, then the variant - for which there have been the most votes - is chosen."

"payment using terminals"

"We have developed a program for terminals that allows you to accept OverGold and other cryptocurrencies using the terminal. This feature has been created for the convenience of businesses that are accustomed to accepting payments using bank terminals. Every businessman who wants to accept payment for his services and goods in OverGold cryptocurrency can order a special terminal."

"How exactly this happens:"

"Business owner:"
• "registers his OverGold wallet to receive payment"
• "notifies the potential buyers that payment can be accepted in OverGold cryptocurrency"
• "uses the terminal when clients pay for their goods/services:"
• "enters the amount for the service/product in the terminal"
• "specifies the cryptocurrency of the settlement"
• "a QR code is generated, which is scanned by the client using the Overgold wallet mobile application (if the client has a bad camera, then the QR code can be generated on the client’s phone and scanned by the terminal’s camera)"
• "the necessary amount goes to the seller, the terminal prints a receipt."

"Blockchain explorer"

"BigDipper is a system that monitors transactions on the network and carefully stores data about them in relational databases like Postgres, which allows you to cache part of the transaction data and get faster access to a certain type of analytics on the network. The system is built in the GO language using a micro-service architecture."

"BigDipper is a complex system and consists of three parts:"

• "bdjuno (engaged in Blockchain parsing, parsing blocks, saving data that enters the database)"
• "hasura (allows to implement a graphQL interface for our databases)"
• "bigdipper ui"

"The up-to-date and innovative Blockchain Explorer is implemented for the Overgold network and provides a user-friendly tool for working with transactions in the blockchain, viewing statistics and monitoring the network as a whole."

"Blockchain Explorer will allow in the future to build user queries and selections based on movements/transactions in the network. It will also be possible to export data in a convenient format for a specific set of transactions that the user needs."