COSIMO Ventures-Backed Oneiro Releases ndau Unpegged Stablecoin Cryptocurrency
On Thursday the 13th of September 13 Oneiro, in conjunction with COSIMO Ventures, has announced that it will be launching the world’s first buoyant digital currency, ndau. This revolutionary cryptocurrency will be optimized for the long term store of value. It is set apart from others in that it is not tied to any fiat currencies or commodities. Instead, the blockchain is designed in such a way that natural incentives and economic controls improve on both its digital basis as well as the non digital currencies Reportedly, Oneiro has already sold nearly $15 million of ndau.
In a recent interview the CEO of Oneiro, Jim Kent was quoted discussing the need for Ndau.
“While other crypto currencies have achieved an impressive rate of growth, their volatility has presented a barrier to mainstream adoption, warding off many institutional and retail investors from entering the market. We must address the problems of governance, stability, and dependability that limit wider acceptance of crypto currencies, especially for a long-term store of value.”
Ndau features innovations that will address these concerns to afford a long-term dependability not found in existing cryptocurrencies. It was initially formulated by the ndau Collective, a group of experts from leading institutions, specializing in disciplines ranging from economics to cryptography.
Fiat currencies and most commodities note daily fluctuations as they are subject to the influence of institutions that usually do not prioritize long-term positions. Coins in the market have mechanisms to push against price drops, to combat day trading fluctuations, at the cost of limiting them in their ability to increase in value over time. This makes them less than ideal for long-term value storage.
To tackle this, ndau, is governed by the Blockchain Policy Council (BPC). This is a group of digital delegates, elected by ndau holders, to look after the interests of the entire ndau ecosystem. The BPC’s monetary policy ensures a pro-growth environment.
While discussing this aspect of ndau, Ken Lang, a technology guru and one of the pioneering members of the ndau Collective, said,
“[When we] map[ed] out the biggest limitations to wide adoption of crypto currencies, it was clear that those looking to use crypto for long-term value storage had problems that weren’t being addressed. The ndau Collective designed an ecosystem of decentralized participants and roles that use built-in incentives, checks, and balances to align interests properly and to protect the interests of all ndau holders fairly. These participants and roles, such as market makers, delegates, and endowment managers, work together to promote price stability without limiting growth – making it a better fit for long term value storage.”
As Ken noted, the eco system comes with a built in economic incentive to encourage ndau holders based on the duration of holding. This ensures that those holding it for its intended purpose are well served. There are other checks, for examples, policies that automatically respond to market conditions and release new ndau when demand warrants. Similarly, when the market is sluggish, excess supply of ndau is taken out of circulation.
Talking about this collaboration, Robert Frasca, one of the Managing Partners at Cosimo Ventures, noted,
“We surveyed the landscape of cryptocurrencies, and we invested in Oneiro because the ndau coin is leveraging blockchain technology to create a really groundbreaking buoyant currency. ndau challenges many of the assumptions held by current cryptocurrency thought leaders today, especially in the realms of digital governance and combining value growth with stability.”
Ndau seems ideally poised for individual investors as well as institutions who are looking to diversify into long term digital assets. ndau’s automated price correction, which recalibrate in every standard ndau block chain transaction, thereby dampening any price drops. With its inbuilt incentives scheme and the structure of the ecosystem makes this a viable investment option.