Kokoa Finance is an innovative crypto-asset-backed stablecoin platform designed for the Klaytn blockchain. As a permissionless and entirely on-chain platform, Kokoa Finance introduces a unique two-token system comprised of KSD and KOKOA. KSD is a decentralized stablecoin that operates via the collateralization of crypto-assets while KOKOA serves as a governance token for KokoaDAO, a decentralized organization aimed at managing the sustainability and stability of the KSD monetary system. Users are able to participate in KokoaDAO by staking KOKOA tokens.
What Makes Kokoa Finance Unique?
What sets Kokoa Finance apart is the exclusive presence of KSD, a crypto-collateralized decentralized stablecoin. The platform allows users to borrow the KSD stablecoin without incurring a nominal cost. In addition, Kokoa Finance employs a "Flash Mint" mechanism permitting users to comfortably create leveraged positions. These features significantly enhance the user experience within the ecosystem, leading to the growth and expansion of the entire network.
How are KSD minted and how does KSD maintain its price stability?
KSD, being a crypto-asset-backed stablecoin, achieves price stability by managing various kinds of collaterals in vaults and charging a stability fee. The Collateral Vaults are under constant surveillance with price oracles to adjust the long-term demand and supply of KSD, therefore maintaining its peg with the USD. Besides, KokoaFarm Labs has launched i4i, a StableSwap DEX that combines CryptoPool, allowing KSD prices to remain stable for short-term periods as well.
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