Stablecoins are becoming increasingly popular due to the need of volatility free cryptocurrency, and thus enable mass-market adoption of crypto for daily transactions.
There have been many attempts made at creating a volatility free Cryptocurrency in the past few years. A few notable examples would be Tether which is backed by US Dollar, Saga which will be underpinned by a basket of currencies, Swissrealcoin which is built on top of a property portfolio. All of these methods of creating a Stablecoin have their own share of supporters and critics, but none of them are perfect.
Enter Kinesis
Kinesis is guaranteed by gold and silver bullion; it does not depend upon national currencies. It’s backed 1-to-1 with bullion when new coins are minted in the Kinesis Currency Exchange. The owner of Kinesis currency actually has title to the underlying bullion.
Source of Gold
Kinesis utilises the Allocated Bullion Exchange's (ABX) Quality Assurance Framework, which involves segregated contracts, serial numbers and bar hallmarks. ABX was founded in 2016 as the world's first electronic exchange for physical metals. Kinesis avoids the inefficiencies and uncertainties of the traditional bullion market, an over-the-counter, decidedly legacy affair. It will have an international best-practices backend, which will add to the security of and ultimately confidence in the coin being created.
More About ABX
ABX is the world’s leading electronic institutional exchange for allocated physical precious metal. It has modernised, globalised and integrated the precious metal markets by redefining the way physical bullion is traded. They have been in operation since 2016. ABX has seven trading, pricing and vaulting hubs across the globe, and has recently partnered with Deutsche Borse Group entity European Commodity Clearing (ECC) for clearing and settlement services.
Kinesis utilises the Allocated Bullion Exchange's (ABX) Quality Assurance Framework, which involves segregated contracts, serial numbers and bar hallmarks.
Want to know more about Kinesis?
Talk to us on Telegram: r/https://t.me/kinesismoney
Read the Kinesis Whitepaper: r/http://kinesis.money/documents/whitepaper.pdf
Join the Kinesis ETH Airdrop:
https://airdropx.com/en/kinesis/