The DD smart contract manages the minting and redemption of Diment Dollar, facilitating exchanges and interoperability with wallets
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When a user wishes to purchase DD tokens, the initial step involves transferring fiat currency through the Diment website. The system then proceeds to execute a series of commands within the Diment network to verify the funds and subsequently transfer the corresponding number of DD tokens to the user's designated wallet (after deducting fees). These tokens are sourced from the company's wallet, which is already backed by diamonds. Users can utilize these tokens for payments or transfer them to other wallets or exchanges.
When a user wishes to redeem or to sell their DD, they can easily do so by visiting the Diment website and providing their DD wallet address. The system will then verify the tokens and proceed to transfer the corresponding fiat amount (after deducting fees) to the user's bank account.
The buying and selling process is automated and transparent, ensuring efficiency and security.
