Overview of the Ukrainian cryptocurrency exchange Kuna
Cryptocurrency exchange Kuna offered to place bets on candidates for mayor of Kiev
Kuna created ERC-20 tokens of candidates for mayor of Kiev
Bidding will last until October 25
Winning candidate token holders will receive ₴ 1 for each token
Ukrainian crypto exchange launched tokens for each candidate for mayor of Kiev to predict the winner in the upcoming elections
Cryptocurrency exchange Kuna has introduced tokens tied to candidates for mayor of Kiev. The exchange announced this on a special website.
According to the description, Kuna has created seven ERC-20 tokens, each of which is tied to a candidate. With the help of smart contracts on the Ethereum blockchain, 1 million tokens were issued for each candidate. The exchange has already added each of the tokens to the listing, linked by the trading pair to the hryvnia:
- VERESHCHUK / UAH;
- KLITSCHKO / UAH;
- KUCHERENKO / UAH;
- PALCHEVSKIY / UAH;
- POPOV / UAH;
- PRYTULA / UAH;
- OTHER / UAH.
It is assumed that the price of each token will demonstrate the probability of a particular candidate winning or his transition to the second round, where 0 means that there is no chance, and 1 means a 100% chance of winning.
The price of each asset is formed by the trading participants. The minimum token value is ₴ 0.01.
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If a participant believes that a candidate has a 30% chance of winning the election, they can place an order to buy the candidate’s token at a price of ₴ 0.30, Kuna reported..
The founder of Kuna, Mikhail Chobanyan, wrote on his Telegram that in this way Kuna decided to fix the situation with the lack of a single objective rating of the candidate..
“Kuna’s mission is to create a decentralized and open financial system. And the idea of tokenizing candidates for mayor of Kiev is our MVP product, which will allow us to look into the decentralized future and make it possible to conduct elections transparently, thanks to the use of blockchain technology, ”he wrote.
You can open an order to buy a token today, but the actual delivery will begin on October 12 at 12:00 (UTC + 3). If the supply of primary demand tokens is exceeded, the remaining tokens will be placed in the Sell order book at a price of ₴ 0.5 per unit.
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The trading stop is scheduled for October 25 at 00:00. Winning candidate token holders will receive получ 1 for each token As the use of cryptocurrencies increases, new types of tokens appear. They can represent value or something intangible like voices. Two … More not later than three days after the official announcement of the election results on the website of the Central Exhibition Complex, Kuna reported.
A similar voting system was previously presented on another exchange – Poloniex. Then the exchange announced the launch of two new trading instruments that are tied to the chances of winning the current US President Donald Trump in the upcoming elections: TRUMPWIN and TRUMPLOSE. Each token is pegged for $ 1.
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