By Hover LabsThe symbol of the Kolibri Stablecoin
Kolibri, the algorithmic stablecoin pegged to the US dollar we’ve been working on for the past few months, is now live on Tezos mainnet! This represents a huge milestone that we’ve been clipping towards, and it’s so exciting to see it finally in a state where we’re opening it to the world.
This week, we deployed a release candidate of the Kolibri production contracts, using the past week or so to perform extensive testing. Today we finally feel confident opening those contracts to the public.
Kolibri represents an independently useful asset which enables trustless stable value payments on the Tezos network. It also represents a massively useful building block for other DeFi (“Decentralized Finance”) projects building on Tezos.
We’ve already seen broad support for Kolibri across the ecosystem. kUSD tokens should appear automatically in Galleon, Kukai and Thanos. We expect a kUSD / XTZ liquidity pool to be live on Dexter (A decentralized exchange on Tezos that launched last year) later today. Thank you to the Madfish, Kukai, and CamlCase teams for supporting the project and making this available on day one. We’d also like to give a shoutout to SEXP, a binary options exchange launching later this month which will use kUSD as it’s settlement asset.
We’ve also partnered with Tessellated Geometry who will bake for assets in the in-protocol Developer and Stability Funds, Exchange Liquidity Pools, and any ovens who choose to delegate. A portion of baking revenue is passed back to Hover Labs to help sustain the project and encourage future feature developments.
We’re stoked to see such broad support for Kolibri on day one. If you’re a developer and you’d like to support Kolibri, please reach out to Hover Labs via email or come say hi on our Discord — we’d love to hear what you’re working on!A Broader Ecosystem
Kolibri is more than just a set of smart contracts and corres...