i have some stablecoin doubts, can someone please help me out ?

so im trying to to make a stablecoin backed with my local currency, i have around 1mil in my bank account and ill be using that, now the place that im confused is how is the value determined on exchanges, like how do i set the value of the token, please help me out ive been researching for like a month and am still confused.

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p.s im a total noob so i apologies if this is a dumb question

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3 thoughts on “i have some stablecoin doubts, can someone please help me out ?”

  1. You have to create a token, when people request said token you mint the desired amount and give them the newly minted coins.

    The price is set by the fact that everyone can buy/or sell the token from you at a fixed price.
    So when people trade it on exchanges they cant really use any other price because otherwise the buyer or the seller would lose money compared if he had asked you to mint the tokens.

    The problem is that unless you live on your own Island, regulators will come knoking on your door. Not to mention that people have to trust you with their money. You could run at any time with all the funds.
    So it is not feasable, sorry.

    The only other way would be to design an algorithmical stablecoin, but requires a lot of skill that you dont have. And it wont gain any traction anyway, so nobody will use it, unless it is a really good project.

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  2. One way is by creating a company that mints the stablecoin – like Tether mints USDT and Circle mints USDC.

    Another way is to create an Algorithmic stablecoin backed by other crypto assets – like DAI and MIM.

    Then there’s another kind of algorithmic stablecoin backed by a related crypto – like UST backed by LUNA.

    But the easiest way is to create a mirrored asset on Mirror Protocol. You can make synthetic versions of any real world assets – currently Mirror Protocol is mainly used to mint and trade synthetic stocks, but there’s nothing stopping anyone from minting another currency. You can [create a poll](https://mirrorprotocol.app/#/gov/poll/create#TEXT-WHITELIST) to mirror your currency right now.

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