System Technical Architecture
Harmony Coin System Design Goals
Design and implement a system similar to the USDC issuance platform, mainly including the following functions:
- Supports users to deposit fiat currency; the platform verifies and mints tokens.
- Supports users to burn Mint tokens and receive fiat currency redemption.
- Supports standard operations such as querying, transferring, and paying.
- The backend management system allows viewing issuance volume, authorized addresses, etc.
- Supports wallet/exchange integration (on-chain tokens are tradable).
- Highly compliant, auditable, and regulatory-compliant integration.
Harmony Coin Launch Process
The following is the forward transaction process for generating Harmony Coins:
01 Fiat currency transfer
Users transfer fiat currency (such as CHF or USD) to the Harmony Coin issuing platform, usually through bank transfers.
02 Fund custody
The Harmony Coin issuing platform deposits fiat currency into its bank account or escrow account.
03 Smart contract casting
The platform invokes smart contracts on the blockchain to mint Heshi coins of equal value.
04 User Receive
Users receive an equivalent amount of Harmony Coins
(1 CHF = 1 Harmony Coin).
05 Reserve Records
The blockchain/smart contract system records this fiat currency as reserves.