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The rapid growth of the Cardano Network is something to be reckoned with. However, the absence of a stablecoin is a challenge as many investors are still afraid of the volatility inherent in crypto. To solve this problem, a new stablecoin based on Cardano, ADADAO is launching and will be holding a public sale on KICK.IO.
KICK.IO is a Cardano-based fundraising platform and project accelerator, designed to provide transparent, efficient, and fully decentralized crowdfunding services. The sale will be held from January 25 at 5 PM UTC to 2 February at 5 PM UTC.
Each token will be sold at $0.025 and KYC is required for all participants. Out of the total supply of 500 million tokens, only 32,936,508 will be available for sale with a hard cap of 300000.0024. Participants can pay for tokens using either ADA or USDT.
ADADAO aims to be the world’s first interest-free stablecoin protocol, which leverages native Cardano assets for the creation of fully collateralized stablecoins. It is currently the only stablecoin that supports interest-free borrowing and will form a critical part of the Cardano ecosystem in the future.
ADAO will be the governance token. I.e holders can participate in important decision-making through voting on important changes such as adding a new collateral asset type with a unique set of risk parameters, choosing the set of Oracle feeds, triggering an emergency shutdown, upgrading the system. They can also make valuable suggestions on how to improve the project.
The project also offers non-custodial vaults with every $AUSD fully backed by on-chain collateral. All plans have been made to ensure the integrity of this solution through good governance with careful protocol design.
The plan includes the Liquidation Ratio, Debt Ceilings, Governance Security Module, Oracle Security Module, Emergency Shutdown, etc to ensure top-notch security and mitigate malicious exploits.