Himegamiprotocol - A completely fair cryptocurrency that uses a mechanism called REBASE that has never been seen before. Meher K Click here to view Meher K’S profile Meher K
We have already seen the rise of Blockchain concept and it's widely acceptance. Decentralized exchanges can differ dramatically in terms of technology, security, legal implications, economic implications, and more. Technology always moves on and the second generation development is now in trend called DeFi (Decentralized Finance). Where we have lots of opportunities to earn more. We can stake, Lend/Borrow assets and can yearn via Yield Farming from the idle assets which are lying in our wallets. Now again further advanced technology is knocking the door called Cross-chain DeFi Protocol. Where two or more Blockchain can interact with each other.
Cryptocurrencies and its underlying technology have opened a decent deal of opportunities for humanity. The concept of cryptocurriencies runs on the blockchain technology. Blockchain technology promises to facilitate fast, secure and inexpensive international payment processing services (and other transactions) through the use of an encrypted distributed ledger that provides reliable real-time transaction verification without the need for intermediaries such as correspondent banks and clearing houses. Now the users are able to transact in Fast , Safe and scalable environment.
KGR is a synthetic asset that pegs its target price (tp) to 1 Japanese yen (¥). The Himegami functions to ensure that KGR market price (mp) is equal to target price (tp).
When KGR is in a state of disruption, and its market price does not perfectly reflect Japanese yen, it must reconcile to reach a state of equilibrium. This is achieved through programmatic expansion / contraction of the total KGR supply, made possible through an elastic supply protocol. These supply expansions or contractions are called rebases.
KGR is an algorithmic stable token that is roughly stable at ¥1 (1 Japanese Yen) due to automatic adjustment of issuance amount and partial collateral system. The rebase mechanism will be less volatile depending on the cumulative number of new issues. When the market price (mp) = target price (tp) KGR is in a state of equilibrium. Its price perfectly reflects Japanese yen. When market price (mp) ≠ target price (tp) KGR is in a state of disruption. Its price does not perfectly reflect Japanese yen.