Buying $KSL OTC
The Actively Managed Stablecoin
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The Actively Managed Stablecoin
Last updated
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$KSL will be available to purchase 'over the counter' (OTC) from . In the beginning a chosen USD stablecoin will be the only accepted payment method, but in the future all popular cryptocurrencies and payment cards will be accepted.
Upon purchase the USD stablecoin payment (1) is stored in the (2), and new $KSL is minted (3) by the KSL Faucet and delivered to the buyer's (4).
The stablecoin used to purchase $KSL, now stored in the , is what backs the newly minted $KSL. The circulating supply of $KSL increasing, which is what happens when $KSL is purchased OTC, therefore has zero impact on the price.
KSL represents the combined value of all of the assets in the and assets under management (AUM) within the Kingsilver ecosystem.
At launch, when there is no $KSL and no collateral from which to draw value from, we will set the KSL's price at 1 USD. To purchase and mint the first 1,000 $KSL, then, it will then cost us 1,000 USD (a USD stablecoin) which will be the first assets in the . The circulating supply of $KSL at that point will then be 1,000, and its value will remain at $1 until some of those stablecoins begin being managed within .
