Emil Georgiev

[Kaspa Commons @Kaspa_Commons]

💵 KaspaDollar
15 Questions for the Development Team!

The new @KaspaDollar initiative, led by Kaspa core developer @asaefstroem, with support from the core team as described in its announcement, is exciting news for the Kaspa ecosystem!

#Stablecoins will play an important role in bringing decentralized finance, payments, lending and other financial applications to Kaspa.

Most of us are familiar with $USDT and $USDC, which rely on centralized issuers and reserves of traditional financial assets to maintain their dollar backing.

KaspaDollar is proposing something different: a decentralized, overcollateralized stablecoin.

Closer comparisons are existing DeFi stablecoins like $DAI, Liquity's $LUSD and its newer $BOLD. Each takes a different approach to collateral, stability, redemption and governance. DAI also incorporates centralized stablecoins and real-world assets into its backing.

The KaspaDollar team has already published its initial roadmap, including a 5 million $KAS development fundraiser, testnet plans, independent auditing and a targeted September 2027 mainnet launch.

At @Kaspa_Commons, we're excited to follow this development and help our fellow Kaspians understand how it could work, what makes it different, and what opportunities it might create.

We've put together 15 questions covering the technology, economics, funding, decentralization and adoption.

These aren't demands for answers or assumptions about decisions the team has already made. We're genuinely interested in digging deeper, learning alongside the community and understanding the thinking behind what's being built.

We recognize that some answers may still be taking shape through research and development. We'd love to hear from the team as that work progresses, and hopefully turn their responses into an ongoing Q&A that everyone can learn from.

No rush! Excited for this next year!

And of course, we'd love to hear what questions our fellow Kaspians have too!

🧵 1/5

https://t.co/rgbqrhp8wi

[Emil Georgiev @Emil1Georgiev]

@KaspaDollar @asaefstroem @kccforum I am waiting to see who knows this builder and who supports that initiative. I'm mainly interested to see what Sompolinsky and Sutton think of that, ant then I'll support it generously. It's the best think for KASPA if it is legit...

[Emil Georgiev @Emil1Georgiev]

@idollarcostavg @KaspaDollar @asaefstroem @kccforum I am also waiting to see who knows thos builder and who supports that initiative. I'm mainly interested to see what Sompolinsky and Sutton think of that, ant then I'll support it generously. It's the best think for KASPA if it is legit...

[Emil Georgiev @Emil1Georgiev]

@backasin89 @KaspaDollar @asaefstroem @kccforum Youll have my 500 KAS for that!

[KaspaDollar @KaspaDollar]

Today we are introducing KaspaDollar, an initiative led by core developer @asaefstroem to build the first decentralized stablecoin on the $KAS network.

The developments around @kccforum and the Toccata hardfork have considerably widened what Kaspa is capable of. Capability alone, however, does not make an ecosystem. Decentralized finance requires a unit of account that holds its value, and until Kaspa has a stablecoin of its own, every application built on it will remain dependent on assets issued elsewhere.

The design we intend to follow is the decentralized, overcollateralized stablecoin: a pattern whose security properties have been examined and tested across the industry for the better part of a decade. With the support of the core team, we consider the conditions right to bring it to Kaspa.

Realizing this requires development, an independent audit, further research, and the operational work of taking a protocol from specification to production. To fund it, we are opening a fundraiser with a target of 5,000,000 KAS.

Contributions are made directly to the fundraising address published on the website. Should the target not be reached by 1 January 2027, every contribution will be returned to the address from which it was sent.

Up until that point, this account will share the plans, details and progress of the work as it develops.

[AMk.Crypto 🧢 @leeky_k_crypt]

KASPA NOW SITS NEXT TO BITCOIN AND ETHER AT A BIG BANK'S CUSTODIAN

Zodia Custody, Standard Chartered's crypto custodian, supports KAS for institutional clients, alongside BTC and ETH.

Standard Chartered held $993.4B in assets at June 30.

$KAS

[Emil Georgiev @Emil1Georgiev]

@PShall0440 @TRobinsonNewEra @D_Tarczynski Just commie faggots!

[Emil Georgiev @Emil1Georgiev]

@TRobinsonNewEra @D_Tarczynski I'm from Bulgaria. A country that was under communist regim not that far back and I've been to UK and Poland, and I can tell you UK is ridiculously at that point Im sorry to say but it's very close to a full blown communist country. On other hand my visit to Powand was great!

[Emil Georgiev @Emil1Georgiev]

@Cryptokasogon I think KASPA is the ONE!

[Emil Georgiev @Emil1Georgiev]

@theswansjr I'm not telling you to buy anything it's your money, but trust me when I say it will be worth your time to research and study what KASPA is and wat is becoming, it's tech and fundamentals. It's more Bitcoin than BTC!

[Emil Georgiev @Emil1Georgiev]

@theswansjr Because there's no real adoption besides buying and holding it from ETFs. It's not money and soon will start to loose it's security budget because there are no transactions on L1 to support the miners. You use LN L2 for everything. Go for KASPA it's bulletproof!

[Emil Georgiev @Emil1Georgiev]

@theswansjr And Satoshi vision for free digital money then BTC is no more a viable option it cannot scale? I about digital commodity like gold that's just not the case, it has to firs become digital money so it can be also digital gold one day

[Emil Georgiev @Emil1Georgiev]

@theswansjr On the other hand KASPA fixes all of the issues of BTC here and now, and don't forget that only Ethereum was close to what BTC was and nothing else, but ETH is POS now and it's not a good option. What about security issues by using LighteningN. If you like BTC fundamentals and ..

[Emil Georgiev @Emil1Georgiev]

@theswansjr Mr. Swanson, It was predicted as a future problem, but never as dead now, it just presumes that the market cap need to double every four years, but even with ETFs growth is getting slower and slower so. Also one day it will be mined completely and then what? I know it's not soon-

[Bitcoin Takeover (BTCTKVR.com) @BTCTKVR]

If you want to have your service in real time?

Kaspa is the only chain where you can do so.

@hashdag $KAS

[Emil Georgiev @Emil1Georgiev]

@BTCTKVR @Vladcostea @BobSummerwill I think KASPA is coming together pretty nicely for tha one unique project!

[Emil Georgiev @Emil1Georgiev]

@Rajatsoni That's why there's KASPA the best and the fastest POW in the world. Research and study KASPA!

[Emil Georgiev @Emil1Georgiev]

@blockchainchick I agree with everything, but why BTC is useless. Go for KASPA, it's more Bitcoin than BTC!

[Heidi @blockchainchick]

"THERE'S NOTHING RISKIER THAN CRYPTO."

You've heard it from your bank, your adviser and the evening news.

So let's look at the safe option.

2013. Cyprus. The banks shut for 10 days. When they reopen, savers at Bank of Cyprus lose 47.5% of everything over €100,000.

2015. Greece. The banks shut for three weeks. You can take out €60 a day.

2019. Lebanon. Banks lock people out of their own dollar savings. The lira loses about 90% of its value.

2022. Canada orders banks to freeze accounts linked to a trucker protest. No court order needed. About 210 accounts, roughly C$7.8 million.

2023. Silicon Valley Bank. $42 billion tries to leave in one day. By the next morning the bank is gone, and around 90% of its deposits were over the insured limit.

Every one of these has the same thing in common.

Someone else held the money. So someone else decided when you could have it.

Now look at self custody.

Your Bitcoin sits at an address that only your private key can spend from. That key comes from 12 or 24 words you wrote down yourself. No bank has a copy. No company has a copy. No government has a copy.

There's no branch to close. No daily limit. No account manager for a freeze order to land on. The network doesn't do weekends or bank holidays.

Send it across the street or across the world at 3am on a Sunday. Nobody approves it. Nobody can reverse it.

Satoshi wrote it plainly in 2009: "The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."

The cypherpunk answer was to stop needing the trust.

Yes, crypto is volatile. Yes, people lose money. FTX lost $8 billion of customer funds. Look at how: people handed their coins to a company to hold. Same mistake as Cyprus, new logo.

Leave it on an exchange and you've just opened another bank account.

There are two kinds of risk. The price moving. And someone else deciding whether you can have your money.

Hold your own keys and only the first one is left. Your bank account has both.

[Emil Georgiev @Emil1Georgiev]

@Cryptotea If I was a country I would choose KASPA $KAS instead of BTC. BTC could not fulfill the vision of Satoshi for sound money, but Yonatan and KAS will!
Research and study KASPA