Himegami Protocol "Japan's First Algorithmic Stable Token That Works Fairly & Transparently "

jupri (30)in #himegamiprotocol • 3 years ago

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Dear Readers,

With decentralized finance on the rise this year, there has been continued interest in a class of coins popularly dubbed “ Algorithmic Stablecoin ”. Some of the more well-known include Ampleforth (AMPL), Based, Empty Set Dollar (ESD) and Dynamic Set Dollar (DSD). While these tokens are generally thought of as algorithmic stablecoins, the teams involved have their own definition. Because algorithmic Stablecoins are one of the uses of total supply manipulation to maintain stakes. DAI is also an algorithmic stablecoin due to its programmable mint-and-burn mechanics. In addition to nominal price volatility, the supply manipulation tactics employed by these tokens further complicate the value-setting process. The mechanisms can be grouped into two main categories: coin rebasing and mint and coupon-based burn.
The result is that the supply of tokens can grow and shrink at a staggering pace, putting enormous pressure on nominal prices. This change in supply is evenly distributed among all wallets holding tokens, meaning that the total value of a user's portfolio does not change if the price shifts exactly by the percentage of new tokens minted. Measuring whether a coin is truly “stable” requires considering supply changes as well, as every wallet is affected by it. When analyzing the total market capitalization to take supply and price into account, it is clear that AMPL are highly volatile.

The biggest difference from rebasing coins is that holders don't see their token amount change unless they perform certain actions. In most mechanisms,for example, as seen in Empty Set Dollars and Dynamic Set Dollars,new tokens are minted when the price is above $1 and awarded to a special class of holders who express interest in joining the government. Part of the award is also given to the liquidity provider Uniswap.

After knowing the meaning of algorithmic stablecoins, of course we need to know what is the purpose of algorithmic stablecoins?
As a blockchain-based digital currency, Stable Coin was created to have a stable value. Stablecoins achieve price stability through a variety of different methods such as pegging fiat currencies or commodities, through collateral against other cryptocurrencies or through algorithmic coin supply management. Despite these goals, StableCoin Algorithmic is decentralized and can be used across all DeFi protocols. For a stablecoin to be useful under all three definitions of money, its value must at least remain stable. Stable dollar representations, such as the USD and Dai Coins, are good at all three characteristics of money. Major cryptocurrencies such as Bitcoin and Ether have historically been used in all three functions, although the advent of stablecoins has reduced their use in business transactions.

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After I explained StableCoin and its purpose, of course, many crypto projects have emerged that also have StableCoins, one of which is the Himegami Protocol ($KGR).

" Japan's First Decentralized Protocol To Manage Algorithmic Stable Tokens "
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Through a concept designed using a truly fair way, KGR aims to become a StableCoin that can be used as a means of payment that is of real benefit to the general public. And pegged at a price of 1ＫＧR =１yen or equivalent to 0.0000023414 KGR/ETH, it is hoped that this Token will be able to become a means of payment that can meet all the needs of its users.
The KGR token is designed in such a way that the supply of circulating tokens adjusts (up or down) automatically according to fluctuations in the token price. This expansion and contraction can also be called the rebase mechanism.
Almost similar to StableCoin, Rebase Token also has a price target. However, KGR Token has a mechanism like StableCoin and Rebase Token, where the circulating Token has an elastic supply, which means that the circulating supply adjusts to supply and demand, without changing the value of the token in the user's wallet.This is the advantage of the KGR Token when compared to other StableCoins.

How To Get KGR Tokens?

To get the KGR Token, of course, is very easy. You can just buy it on the official website of this project, or you can get this Token through the DEX exchange, which is uniswap. But before you start buying it, make sure you have a personal wallet (metamask), and make sure you have sufficient balance in your wallet to start buying KGR Tokens.
The recommended wallets are:
√ Shinobi Wallet,
√ Metamask Wallet,
Every asset you own, you are free to manage it. Whether to sell again or you will keep it as an investment, you are free to do that.

Each investor can choose a Token that suits their respective goals. Because the Himegami protocol has several tokens but still under the auspices of one bank, namely Yamato Bank.
These tokens include:
√ Kagura Tokens (KGR),
√ OMK Tokens,
√ sUKH Token
√ BUKH Token
Those are some types of tokens issued by the Himegami protocol. And each Token has its own function, but still has a value that continues to increase in the future.
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Investing in cryptocurrencies is very risky. So please read carefully before you decide to invest in it. Because losing your funds is your own responsibility.