About

Kowala is a stablecoin protocol on Ethereum with two native tokens, one for stable value transfer and one for mining rewards.

History

Kowala is a stablecoin protocol created to offer a value-stable crypto asset in a classically volatile space. The protocol is built on Ethereum and circulates two native tokens. The first, kUSD, is a dollar stablecoin using the kCoin token designed to create fiat-currency-specific stablecoin assets (e.g., kUSD, kEUR). These assets are not fully collateralized, intead their value is regulated by three mechanisms built into the protocol and ecosystem. The second token, mUSD, is a dollar-stablecoin version of the mToken rewards tokens for miners who create new kCoin tokens.