The Himegami protocol originates from Japan where bUKH operates within the Himegami protocol which has tokens as KGR, which is the first decentralized system used by Japan to manage stable tokens.
As the cryptocurrency market continues to mature, crypto projects also continue to develop further driving the evolution of the market. So far, we have looked at cryptocurrency projects with a fixed supply of native tokens. The main goal here is to create scarcity and push crypto prices higher.
Now, we believe it is time to create an elastic supply of decentralized digital currency. KGR is one of the dynamic and fully decentralized elastic supply protocols that aims to meet the liquidity needs of the wider crypto market, and more importantly, to solve the problem of market manipulation.
The KGR cryptocurrency achieves a better balance of supply and demand because it perfectly correlates the price of a synthetic asset with the price of its underlying asset. The KGR token is essentially an elastic cryptocurrency with a price target of 1 Japanese Yen adjusted for inflation. The price of KGR can be higher or lower than 1 Yen, but supply is always adjusted to meet the target of 1 Japanese Yen (¥). If high demand pushes the price higher above 1 Yen, Himegami protocol will add more supply creating selling pressure and rebase action. To distribute KGR tokens to token holders, the system will be able to issue 100,000 tokens per rebase then sell them on public exchanges following the first-come-first-serve rules. Unsold tokens on that day will be burned. This method is implemented in smart contracts.
Himegami rebase system is applied every 1385 minutes for supply rebase. The rebase function is a new concept for the crypto market and is basically related to smooth supply for decentralized elastic supply tokens like KGR.
As the KGR token expands and contracts based on demand and supply, the rebase mechanism ensures that the ownership percentage for users remains the same.
We envision the Himegami protocol to be a hedging asset for all crypto worlds as well as the growing Decentralized finance (DeFi) sector. KGR stability can help DeFi investors to reduce their dependence on several centralized stablecoins. It can serve as a hedge asset, DeFi collateral, and a stable medium of exchange for the entire crypto space.
We position KGR as a useful crypto token and collateral asset for Decentralized Finance (DeFi). Its unique qualities such as decentralized, profitable, self-regulating and more stable assets, make it important for DeFi. In the future, KGR may have several different applications and could be used to complement other DeFi projects such as Tezos, Polkadot, Cardano and others.
Furthermore, programmatic rebasing protocols aim to solve the problem of massive fluctuations in liquidity and volatility by making them more predictable and beneficial for everyone involved. This allows us to position Himegami not only in the current crypto ecosystem, but also create a number of new applications for it in the future private DeFi ecosystem that many people have never even thought of.
Official KGR Launch
On December 27th at 9:00 a.m. UST, Uniswap KGR trades go live.
The Himegami Protocol project supports the MetaMask wallet, and the project has also created its own wallet called the Shinobi Wallet. Shinobi Wallet is a cryptocurrency wallet that runs on Multichain and supports transactions with Bitcoin, ERC-20 tokens, BEP-20 tokens, and Matic network tokens. There is now a version of Multichain for mobile devices with iOS and Android operating systems. And this wallet can already be downloaded, installed on your phone and used safely.
The KGR token is a stable token pegged to the Japanese Yen. The price of one KGR token is one Yen.
The KGR token uses a mechanism called Rebas and automatically adjusts the KGR amount every 1385 minutes using a smart contract program. Unlike traditional centralized projects, Himegami Protocol project managers cannot issue tokens at will, which makes the KGR token fair and transparent.
If the market price of the KGR token rises or falls with respect to the Yen, then the mechanism includes the stabilization of the price of the KGR token, due to an additional token - OMK, which releases a special project for the stabilization function.
The number of KGR tokens issued is 70,000,000. The number of issued OMK tokens is 100,000,000. This token distribution plan can be found on the official website of the Himegami Protocol project.
Initial supply of KGR tokens is only 170,000,000. Since January 15, 1% of the total token supply will be released by smart contracts for relocation. Issued KGR tokens will be traded in mint in daily open sales, and non-metered KGR tokens will be burned.
Also, Himegami Protocol project also created two more tokens. These are sUKH and bUKH tokens. The first token will be used to receive dividends from the wallet and its owner will receive voting rights. The second token is to receive dividends from smart contract work and the owner will receive additional benefits.
Hіmegam's Rоtосl consists of Five tokens namely:
Himegami (KGR):
- In this case, 1 KGR is equivalent to 1 Yen.
- The main release number is 170,000,000 KRG.
- The initial distribution number is 600,000,000 KRG.
- Yen Peg currency Kagura token with KGR for being stupid.
Government Token OMK Token:
- The token symbol is OMK.
- It has a total number of requests of 100,000,000 OMK.
- These are the governance tokens of Yamat bank and Yamat bank shareholders.
Token:
- The token name is UKHI.
- This is the UKH symbol.
- Has a total number of requests 500,000,000 BUKH.
- The UKH token allows users to receive value from the Shіnоb wallet as dividends.
BUKH Tokens:
- The token name is BUKHI.
- It has it as bUKH.
- Have a maximum number of requests 500,000,000 UKH.
With regard to Yamato Bank, we can say that it will provide lending services, staking, creating exchange options and creating funds based on the KGR token.
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For More Information:
Website: https://himegamiprotocol.org/
White Paper: https://drive.google.com/file/d/1_7HWMxg7txliig-DFtiRiZH-z4KrWD3K/view
Twitter: https://twitter.com/himegami_pro
Telegram: https://t.me/himegamiprotocol
Instagram: https://www.instagram.com/himegami_official/?utm_medium=copy_link
Medium : https://himegamiprotocol.medium.com/
Author : homio
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2865336
bUKH address: ( Shinobi Wallet ) : 0xbAD745BB77Ad02048d3D70C6434b510358ADd99A