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Launch of ‘ndau’ – untethered but stablecoin backed by digitally built-in mechanisms, monetary policy and governance

Oneiro, backed by COSIMO Ventures, announced yesterday (Sept. 13) that it has launched ndau (“en-dow”) by the world’s imperial institutions investors, such as, Goldman Sachs, Columbia University, and Carnegie Mellon, and it is regarded as “the world’s first buoyant coin optimized for long-term store of value.” The concept was originally devised by the ndau Collective, a consortium of over 20 leading veterans from distinctive reputed institutions such as, MIT, Columbia University, University of Chicago, Carnegie Mellon, New York University, and Goldman Sachs who specialize in disciplines ranging from economics, monetary policy to cryptography and computer science.

ndau, has been the pioneer cryptocurrency that is untethered to any fiat currencies, but still safeguarded as a stablecoin as it is digitally built-in mechanism, concentrated monetary policies and conscious governance.

Majority of the crypto aspirants have been keen for a digital currency that comes into the mainstream, including the Winkelvoss twins’ Gemini Dollar unveiled this week but each of them have got considerable flaws that is likely to be addressed by ndau. The key takeaways from the announcement are: 

  • $15 million of ndau has already been bought:ndau’s market cap currently sits at $40 million before it is publicly available.
  • Operations entirely venture-backed:Deep tech VC fund COSIMO Ventures is the main investor supporting its operations.
  • Focussing stablecoins’ key objetcives:ndau will address 23 pain points preventing cryptos from mainstream adoption, the top three being dependability, stability and governance.
  • ndau is unthered to any fiat currency:Any stablecoin pegged to, for instance, the USD, is not a good store of value as monetary policy dictates that the USD depreciates on an average of 2% every year.
  • ndau is governed by democratically elected Blockchain Policy Council: The Council has nine members, representing three distinct group of stakeholders that act like a central bank and make decisions for the ecosystem.

While other cryptocurrencies have achieved an impressive rate of growth, their volatility has presented a barrier to mainstream adoption, warding off many institutional and retail investors from entering the market. In order to move towards acceptance of a decentralized digital monetary system, we must address the problems of governance, stability, and dependability that limit wider acceptance of cryptocurrencies, especially for a long-term store of value. We are thrilled to have built a truly resilient, global digital currency that will address these issues,” Jim Kent, CEO of Oneiro, mentioned.

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