Kowala kUSD Stable Cryptocurrency Announces its Qualified Investments Sale
The creators of the stable kUSD altcoin that is built to keep track of the USD’s value, Kowala, has announced that it is now selling qualified investments for their native stable coin project. Kowala will leverage third-party authorized vendors like VerifyInvestor and AngelList to allow qualified individuals to buy the rights of receiving the project’s mining token, called the mUSD, which the developers plan to launch after finishing setting up the network. It is worth noting that initially, these mining tokens will have specific limitations on their transferability and use.
The Kowala stable coin project features a dual token system that includes the following:
• kUSD token: This is the main token, and it is a stable altcoin designed for tracking the USD value
• mUSD token: This is the secondary token designated for mining, and it will be the main coin used for mining
With the recent announcement of the sale, the team behind Kowala is building upon the fact that it already has existing support from Exrates, RightBTC, and Ledger. It was noteworthy to receive Ledger’s public support for the kUSD as it signals the industry confidence with Kowala Protocols unique price-stabilizing algorithms. Most importantly, this kind of support also enhances access to the kUSD coin, which is a consumer-friendly and stable coin that can be used by millions of people across the globe.
In September, Kowala launched an alpha mainnet of its platform, called Andromeda. Following intensive debugging and stress testing of Andromeda, the developers anticipate a beta release date in the first quarter of 2019.
According to Kowala CEO, Eiland Glover, Andromeda signals a new era for stable altcoins, which is one whereby users will not need to place their trust in gold reserves of cash, and the whims of the crypto markets to maintain stable prices. The kUSD stable coin project makes this altcoin the most anti-volatile and trustless altcoin currently on the market. It offers unmatched monetary liberty, specifically for people who live in inflationary economies across the world.
Encouraging Market Participation
Even though multinational corporations like IBM and Goldman Sachs among many others are among the close to $400 billion already invested in stable altcoins over the past year, most of these projects do not allow other parties to participate. The Kowala protocol seeks to address this and increase participation by individual buyers.
Kowala’s kUSD network leverages complex stabilization algorithms that are designed to ensure that the kUSD coin is always aligned with the current value of the USD currency. The algorithm helps to automatically mint and burn kUSD token supply, based on user demand. As a result, the kUSD can achieve market stability while evading the drawbacks associated with stable asset-backed altcoins that are typically backed by centralized assets and fiat currencies.