KOVRITA.IO - Decentralized Hedged Stablecoins & Wallet Project

[kovrita]

https://i.imgur.com/u4BZ3dx.png

Hello Everyone,

Presenting a new project:.
Kovrita - Decentralized Hedged Stablecoins & Wallet

- Kovrita project exists to empower decentralized cryptocurrency exchanges and to solve the most fundamental problems within the cryptographic currencies ecosystem. Project’s solutions are addressing high price volatility, market manipulations and are geared toward mollifying the lack of autonomy of diverse digital assets and technologies in their market valuation.

- The project’s philosophy lies primarily in full support of the decentralization concept and development of open-source software. The project team's ultimate goal is to make a major contribution within the cryptographic space, by not only developing the tools and platforms for exchanging digital assets exclusively for trading and investment purposes but also to facilitate the expansion of blockchain technology usage into wider areas of people’s everyday activities and interactions.

- The name “Kovrita”, as well as one of the main project’s concepts, is derived from the word “Hedged” (or “Covered”) in Esperanto.  Accordingly, just like the Esperanto language itself, the Kovrita coins are created to become global in their utilization and ownership, without direct attachment to any particular geolocation, spoken language, political system, or a culture.

- Starting from the creation of Kovrita US Dollar crypto coin (USDk), the primary focus of the project is to create a set of stablecoins, representing major fiat and cryptographic currencies. From the very beginning of project operations and in its innovative path to the complete decentralization of such coins, we are utilizing the model of distributed ownership and custodianship of the assets which are hedging the Kovrita coins.

- One of the important project’s objectives is to develop a new type of decentralized exchange (DEX) platform. In comparison to the existing today DEXes, the novelty of such a platform is in its greatly increased liquidity index for all traded assets. Such an increase can be achieved because each of the assets will be individually paired with one or more stable, decentralized Kovrita coins, serving as the platform’s internal Trading References (c).

- In its yet another innovation related to DEX development, the Kovrita project is taking the approach of creating a large pool of stablecoins first and only then using them as a solid, high liquidity base to develop its DEX platform. Notwithstanding and because of the decentralized nature of Kovrita stablecoins, they may also serve well to any third party DEXes by power-boosting their wider adoption and expansion. These processes are highly desired in the crypto space, as they should greatly reduce the possibility of market manipulations, lead to price volatility stabilization and open the way to the price discovery processes via natural, fair and asset-to-asset independent trading.

- Kovrita stablecoins are initially created as a set of Ethereum contract-based (ERC-20 standard) coins. They are: (1) Algorithmically issued and destroyed by the array of software oracles, in real-time, in full accordance with the public's demand; (2) Hedged by the fiat money and cryptocurrencies “basket” in a decentralized manner.

About the website:
Everything you see is pretty much just the JavaScript and Web3 (MetaMask) replacement "Account" DApp, allowing the browser to interact with the Ethereum network.
Extra security features of our "Account" DApp are: the second layer of Ethereum wallet protection via username/password created on the blockchain, as well as TOTP (Two-Factor Authentication).

Links:

Official web site    - https://kovrita.io
Account DApp       - https://kovrita.io/account (Note: there is no need to create the account if Web3 application such as MetaMask is used)
Security Bounty and Incentives: - https://kovrita.io/#earn
Community Forum: - https://discuss.kovrita.com
Twitter                 - https://twitter.com/KovritaOfficial
Future home on GitHub         - https://github.com/NSabanto/Kovrita-Decentralized-Hedged-Stablecoins

Beta Testers are Invited.
We are also inviting people who speak other than English languages, to build local support teams and representatives.

[notblox1]

One more generic so called stable coin, based on Ethereum network as ERC20 token.
No team info.
No whitepaper.
No originality.

[DavethaMan]

How will the price appreciate given that this is a stablecoin?

[kovrita]

One more generic so called stable coin, based on Ethereum network as ERC20 token.
No team info.
No whitepaper.
No originality.

Yes, it is the ERC20 standard on the Ethereum network, both do wonders, good observation, thank you.
"One more generic..." Even IF it was just one more and generic, isn't this a good thing? This is about choices and about multiplying the points of possible failure of a bigger system, and THAT is exactly where the originality of the Kovrita US dollar (and later others) is.

"No team info" Well, someone is doing this, so there has to be a team, right?
But, you are obviously implying the specific physicality of the team. This is probably indeed very relevant when it comes to a group that goes through the route of assigning itself a few $million so that instead of actually starting product development, they would rather go for a long vacation.
The Kovrita team's take is only a low and reasonable (1.62%) coin purchase fee and only that amount is then "invested" in the project, alongside system users.
Moreover, per system design, the role of project creator (the Team) will simply diminish over time, therefore, we believe that it's member names are simply irrelevant in the long run.
Lastly, one of the project's goals is to create its distributed ownership globally, which also (BTW) should then satisfy local regulations.
"Some" teams do choose privacy over money and fame. You know that, right?
ADDED: Info about white paper is here: https://kovrita.io/#faq

[kovrita]

How will the price appreciate given that this is a stablecoin?

It will not, exactly for that reason.
The contract is minting AND burning USDk in real-time, based on the current at any given moment US Dollar rate for Ether. Deposit of ETH mints corresponding amount of USDk, while the withdrawal of ETH from the contract, burns it right then.

USDk Stablecoin itself does not change in value. The Kovrita incentivization model is based on issuing extra USDk to those staking it. Staking Rewards are regulated via Soft and Hard Withdrawal Caps (terms used by Kovrita Project).  More about it here: https://kovrita.io/#faq ("Reward Options" section)

[kovrita]

Kovrita Stablecoins project is now in the process of establishing partnership communications with the third party Decentralized Exchanges and Coin Swap ventures to conduct its Initial Decentralized Exchange Offering (IDEO) in the role of the Market Maker. 
Three contacts have been established so far and the team is extending our special invitation to all new and recently launched ventures. Please inquire via support ticket system at Kovrita.com

[kovrita]

Any questions and feedback comments can be now posted at Discuss Kovrita forum:
https://discuss.kovrita.com/

[kovrita]

News Update:
https://kovrita.com/open-invitation-for-language-translators/

August 7, 2019 - The main website is now available in Japanese, Chinese and Russian languages. Whether or not you are a professional translator, our team welcomes everyone with good grammar skills in any of the World’s languages to contribute by correcting our Google translated, current and future “Kovrita Pages”. This is exactly what the collective writing is all about!

Notably, while the original plan of the team was to have the website translated to other languages professionally or by the community, the final decision was to pay tribute to “Google Translate” services for the impressive achievements with their corresponding Artificial Intelligence (AI) program, which powers this service. Such a decision was made while our team and early backers group began working preparing files for translation and many people easily noticed that automatic translation by Google has significantly improved during the last few years.

If you wish to make translation corrections, please start a topic at Discuss Kovrita community forums: discuss.kovrita.com

Kovrita Project Team
https://discuss.kovrita.com

###

[kovrita]

Kovrita US Dollar Stablecoin is now listed on the new exchange platform Wacdaq.pro as its first Exchange offering channel:
https://wacdaq.pro/exchange#BTC_USDk

Kovrita Stablecoins project team is also applying to become one of the primary Market Makers of the Wacdaq cryptocurrencies trading platform.
Kovrita US Dollar (USDk) Stablecoin is offered for trading against most major cryptocurrencies with a fixed value of 1 US Dollar. Peers who will acquire USDk can have two options:
1. Use the coin as a price-stable Trading Reference (c) for conversion to and from other major cryptocurrencies.
2. Use the purchased  USDk coin on Kovrita.io website (https://kovrita.io/#earn) to earn Kovrita Staking Rewards.

Team KOVRITA.IO

[jacafbiz]

There seems to be a new trend in the space now, Stable coins, most people wants to launch their own stable coin, there is a reason why Tether is still the number one in the space though there are many down sides to this but they have stand their ground with all the law suits and FUD, I personally don't want to touch any stable coin that is not backed by real  asset, even DAI is struggling as we can see with all their sophisticated Algorithm. I will be watch this project to observe the level of adoption

[kovrita]

There seems to be a new trend in the space now, Stable coins, most people want to launch their own stable coin, ...

This is also a well overdue trend and a very good one!
More choices, more freedom of fiat movements, bigger combined market cap.
Kovrita is here to partner with every one of them, down to the last LocalBitcoiner, by offering to own a stake in the project.
From the very start, the project and its stablecoins belong to the public and everyone is invited to own a portion of it.
...except (!) Tether.
Well, Tether IS actually accepted for deposits at Kovrita project, but only to be converted into something more real..

[kovrita]

... there is a reason why Tether is still the number one in the space though there are many down sides to this but they have stand their ground with all the law suits and FUD, I personally don't want to touch any stable coin that is not backed by real  asset, even DAI is struggling as we can see with all their sophisticated Algorithm. I will be watching this project to observe the level of adoption

You have to agree that having a single, centralized, under constant attack "stablecoin", in what supposed to be the decentralized environment, is one Huge problem.
Tether is "standing grounds" only because the current market is 100% helpless in front of it, regardless of the fact to what extent it may be not backed.

Without any competition of similar size or with better underlying logic (think Kovrita), this $4 Billion "Coin Monster" can keep "the grounds" by keeping printing IOUs, regardless of the collateral it has. I am not even saying this "can happen", this is already happening.

[kovrita]

Beta testing at work!
Thanks to user comments, questions, and feedback, a whole set of Kovrita DApp modifications, additions and guides were implemented today by the Team.
See new user interface arrangement at:
https://kovrita.io/account

Test question:
What Kovrita system user needs to do to start staking?

P.S. This thread is lacking some challenging questions and critique!

[GranRethory]

SCAM!!!! NO REPOSITORY IN GITHUB

Hello Everyone,

Presenting a new project:.
Kovrita - Decentralized Hedged Stablecoins & Wallet

- Kovrita project exists to empower decentralized cryptocurrency exchanges and to solve the most fundamental problems within the cryptographic currencies ecosystem. Project’s solutions are addressing high price volatility, market manipulations and are geared toward mollifying the lack of autonomy of diverse digital assets and technologies in their market valuation.

- The project’s philosophy lies primarily in full support of the decentralization concept and development of open-source software. The project team's ultimate goal is to make a major contribution within the cryptographic space, by not only developing the tools and platforms for exchanging digital assets exclusively for trading and investment purposes but also to facilitate the expansion of blockchain technology usage into wider areas of people’s everyday activities and interactions.

- The name “Kovrita”, as well as one of the main project’s concepts, is derived from the word “Hedged” (or “Covered”) in Esperanto.  Accordingly, just like the Esperanto language itself, the Kovrita coins are created to become global in their utilization and ownership, without direct attachment to any particular geolocation, spoken language, political system, or a culture.

- Starting from the creation of Kovrita US Dollar crypto coin (USDk), the primary focus of the project is to create a set of stablecoins, representing major fiat and cryptographic currencies. From the very beginning of project operations and in its innovative path to the complete decentralization of such coins, we are utilizing the model of distributed ownership and custodianship of the assets which are hedging the Kovrita coins.

- One of the important project’s objectives is to develop a new type of decentralized exchange (DEX) platform. In comparison to the existing today DEXes, the novelty of such a platform is in its greatly increased liquidity index for all traded assets. Such an increase can be achieved because each of the assets will be individually paired with one or more stable, decentralized Kovrita coins, serving as the platform’s internal Trading References (c).

- In its yet another innovation related to DEX development, the Kovrita project is taking the approach of creating a large pool of stablecoins first and only then using them as a solid, high liquidity base to develop its DEX platform. Notwithstanding and because of the decentralized nature of Kovrita stablecoins, they may also serve well to any third party DEXes by power-boosting their wider adoption and expansion. These processes are highly desired in the crypto space, as they should greatly reduce the possibility of market manipulations, lead to price volatility stabilization and open the way to the price discovery processes via natural, fair and asset-to-asset independent trading.

- Kovrita stablecoins are initially created as a set of Ethereum contract-based (ERC-20 standard) coins. They are: (1) Algorithmically issued and destroyed by the array of software oracles, in real-time, in full accordance with the public's demand; (2) Hedged by the fiat money and cryptocurrencies “basket” in a decentralized manner.

About the website:
Everything you see is pretty much just the JavaScript and Web3 (MetaMask) replacement "Account" DApp, allowing the browser to interact with the Ethereum network.
Extra security features of our "Account" DApp are: the second layer of Ethereum wallet protection via username/password created on the blockchain, as well as TOTP (Two-Factor Authentication).

Links:

Official web site    - https://kovrita.io
Account DApp       - https://kovrita.io/account (Note: there is no need to create the account if Web3 application such as MetaMask is used)
Security Bounty and Incentives: - https://kovrita.io/#earn
Community Forum: - https://discuss.kovrita.com
Twitter                 - https://twitter.com/KovritaOfficial
Future home on GitHub         - https://github.com/NSabanto/Kovrita-Decentralized-Hedged-Stablecoins

Beta Testers are Invited.
We are also inviting people who speak other than English languages, to build local support teams and representatives.