About Kokoa Finance
Stablecoins come in all shapes and sizes and that is both literally and figuratively true if you look at the crypto economy developing right now. As an investor, you want to put your assets to use on a platform where you get the maximum benefit. While every platform claims to do that for you, very few actually meet the criteria or promises they make. Kokoa Finance aims to be true to its words by providing a stablecoin that you can borrow against your crypto assets with zero nominal cost involved.
How Does Kokoa Finance Work?
The system created by Kokoa Finance employs two different tokens, KSD and Kokoa. The first one is a decentralized stablecoin with crypto as its collateral. Minting KSD takes CDP which should be worth more than the KSD being minted. The second one is the platform’s governance token that platform’s users can use in the Kokoa DAO. Staking this token gives voting rights to the users to ensure that the system is kept stable and sustainable. Here are a few benefits that users and investors can enjoy from Kokoa Finance
- Borrowing KSD is free of cost for any user who stakes Klay against the stablecoin. That means zero-interest loans and what’s even more interesting is that the pal from will offer mining rewards to KSD borrowers for the first four years. Not only is your loan free of cost, but you are actually making money by borrowing it.
- KSD deposits are highly profitable as the platform offers as much as 20% yearly interest on the deposits. You can deposit your KSDs into the KSD Savings account provided by the platform and make money. When you want to withdraw, you can do so anytime without any expiry or lock-up periods getting in the way.
- Staking Kokoa tokens also allows users to have governance rights which means they can vote on key decisions and steer the course of the platform. Furthermore, they will also be given a governance reward from the DAO’s earnings.
Kokoa Finance Team
The people running Kokoa Finance are highly experienced crypto traders, blockchain specialists, software engineers, finance specialists, and more.
How to Participate?
Currently, there is no public announcement of an ICO from Kokoa. However, you can keep in touch with their website and Twitter account for the latest updates.
* ICO Daily does not provide investment advice. Please read our disclaimer