The Ukrainian cryptocurrency exchange Kuna has carried out the technical launch of the stable-link UAX, tied to value hryvnia. 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 and securityUAX token, we use a method that allows you to maintain a single reserve ratio between the UAX cryptocurrency token and the associated asset in fiat currency. 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 the official presentation of the project will take place on the same day as part of the BlockchainUA conference. You can buy tickets here. 20% discount on promotional code "KUNA2020".