The Story of KSB; a Komodo stable coin is born

Ø Crypto Union
Dec 21, 2018 · 2 min read
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Cryptocurrency markets are inherently volatile. Since the release of Tether on the OMNI protocol, many other initiatives have launched, mostly upon the Ethereum network.

While these products provide crypto investors with a certain level of stability, mostly useful for trading purposes, there is much room for improvement in this area.
It is with this in mind, that we at Ø Crypto have been working on producing a direct connection between the Komodo Ecosystem and the traditional banking sector.

The first step we needed to take in order to accomplish our grand ambitions was to issue a cryptocurrency for anyone who needs a stable, tradable and reliable unit.

This idea, for a new breed of a stable coin, has been a goal of ours for quite some time now, however, with the birth of the KSB asset chain we wanted to place ourselves on the cusp of new horizons. We believe that the Komodo platform is at the forefront cutting edge of blockchain technology and therefore was our first choice for the release of our coin. Our relation with Indénodes emphasizes our admiration and affection towards the Komodo platform.

In launching KSB, we didn’t want to have a product similar to others already available, that’s why we’re working to give KSB 5 main monetary functions:

  • Unit of Account, measurement of value
  • Basis of Credit
  • Standard of Postponed Payment
  • Medium of exchange
  • Store of Value (Purchasing Power)

So, what does all of this mean for the end-user?

  • The ability to secure and diversify your investments with a fully collateralised and auditable hedged product
  • Access to a liquid, fungible dollar pegged coin.
  • The ability to earn up to 36% PA interest* by enhancing your KSB to KSB+

Following the initial draft of our KSB whitepaper and the launch of the crowdfunding campaign, we opened a private discussion group with select members of the Komodo community. The feedback and support we received were overwhelming! The conversations we’ve had have really helped to shape and guide our technical and financial strategies in making the asset chain a reality. We’ll continue to look to the group and the wider community for guidance in keeping us on the right path!

Special Thanks

There is still significant work to do, we wish to continue this great synergy with Komodo, and to make products that will be useful for the community.

You can support us on this journey through this campaign and you can buy your first KSB on our dedicated website.

Come discuss with us on our Discord or on the Komodo Discord channel #opay

Ø Crypto Union

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