Cryptos are crashing. Good time to come to market with a new coin? Now comes ndau, billed as a buoyant stablecoin designed to go up over time. Ken Lang, CTO of COSIMO Ventures and Jim Kent, CEO of Oneiro said: This time it’s different. The pair discussed the recent debut of ndau, billed as “the world’s first buoyant coin optimized for long-term store of value.”
The coin is unpegged, which means that it is not tied to the fluctuations to any fiat currency, such as the dollar. Oneiro said it had sold $15 million of ndau via private sale. Beyond the unpegged nature of the coin, the company said there are “incentives and economic controls” built into the ndau blockchain that improve on the ways digital coins and non-digital currencies are traded and fluctuate.
Those backing ndau seek to have one important distinction in the cryptocurrency realm: The creation of a coin that seemingly defies gravity and goes in one direction — up. The idea is to create a set of forces that encourage being patient rather than cutting and running, said Lang.
“What happens is you've created an emergent kind of behavior for the whole group and for the market that is stable, and so you don't you don't see the big runs on the market downward,” he said.
There is the option to lock up ndau for relatively long periods of time, where such longer-term holders will get 15 percent additional ndau per annum. Similarly, with any new wrinkle on the crypto firmament, where the hope is “this time it’s different,” one must take note of the problem that is being solved by the newcomer.
Read here on why, how and about ndau is all about.