Cryptocurrencies such as Bitcoin, Ether, and Dash exhibit significant volatility. Consumers, merchants, traders, investors, miners, and developers have a need for a cryptocurrency whose value can be counted on to remain roughly stable from one day to the next and whose operation does not depend on potentially unreliable third parties such as banks.
Cryptocurrencies such as NuBits and BitUSD have failed to achieve stability due to their ineffective volatility control mechanisms. Others, such as Tether, that hold centralized, one-to-one reserves in fiat have proven vulnerable to the whims of banks and governments – a fatal flaw.
They’ve created an autonomously stabilizing, decentralized cryptocurrency that holds its value at $1 US Dollar. The currency is called “kUSD” and its stability mechanisms are maintained by proprietary algorithms and free market fundamentals, instead of banks and reserves. To date, the kUSD stability mechanisms have withstood the scrutiny of not only our team, but also outside developers, economists, computer scientists, and extensive agent based modeling.
kUSD is designed for the real world and it is coming.