The Ukrainian cryptovrency exchange Kuna has released UAX, tied to the Ukrainian hryvnia in the ratio of 1:1. Beta-testing of UAX will last until March 20, 2020.
The new stablecoine is based on the Etherium blockchain, so UAX will support the basic standards ERC-20 and ERC-865. The first issue of UAX will amount to 1 million coins, and the first stage of the introduction of the steblcoin provides for integration with market players, technical testing on decentralized financial platforms, as well as research in the framework of the "newest economic theory.
To bind to the Ukrainian state currency, Kuna plans to introduce the Proof-of-Reserve audit method, which is used by many large cryptovoltaic exchanges, including Kraken. The Proof-of-Reserve scheme is designed for independent audit with cryptographic verification. It gives a guarantee of availability of reserves of client funds in full.
Steelcoin will be publicly presented by the founder of the Kuna exchange Mikhail Chobanyan at the BlockchainUa 2020 conference to be held in March. According to Chobanyan, Kuna will become the first stock exchange to issue a UAH-linked steblecoine. The head of Kuna also mentioned a pilot project of the Central Bank of Ukraine on the issue of electronic hryvnia, which is still in the research and testing stage.
As for UAX regulation, Chobanyan said that Kuna will use its own infrastructure for regulatory control until the country passes relevant laws to regulate the crypt currency. Just to remind you, in November, the Maltese subdivision of the Binance exchange offered its assistance to the Ukrainian government to develop new rules that would allow setting a clearer legal status for the cryptocurrency in the country.
Comments
Post a Comment