Ukrainian cryptocurrency exchange Kuna held a technical launch of the UAX stablecoin, pegged to valuehryvnia. This edition of ForkLog said representatives of the site.
Cryptogryvna created on the Ethereum blockchain, supports the standards ERC20 and ERC865. The first issue is 1,000,000 UAX tokens.
«To maintain stability andUAX token security, we use a method that allows us to maintain a single reserve ratio between the UAX cryptocurrency token and the associated fiat currency asset. This method is called Proof-of-Reserve or «proof of reserve»,- noted the developers.
Stablecoin is currently in the open phase.beta testing for a limited range of Kuna.io users. The main goals of the first stage of UAX implementation are integration with market players and technical tests in DeFi platforms.
The beta test will last until March 20 and on the same day the official presentation of the project will take place as part of the BlockchainUA conference. You can purchase tickets here. 20% discount with promo code«KUNA2020».
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