the massive KAVA-9 upgrade, but I, as an European investor, would like to introduce a proposal. I have the need to tokenize my euros, and to remove them from my bank, because I do not trust Banks anymore and because I do not earn enything but I have to pay to keep my money there. Now, I don't want to peg my euros to the dollar, so USDX is not a suitable product for me, I would like a EURO pegged stable coin, a Kava $EUROX for instance. KAVA platform has the forgery to mint USDX, so to speak, why dont use it to mint also $EUROX? I' don't want to go to other platforms as I am a KAVA stakeholder, I trust this platform I would like to find here all what I need. This is a global platform and there are many European customers like me, in the upcoming massive upgrade why do not introduce also this product?
Agree!
There are lots os USD based stablecoins but very few for other currencies, so is an interesting idea, although not sure of the practicalities. I suspect liquidity would be the biggest issue Would need some cleaver thinking to work out how it could be made to work The easiest option migh be to onboard a Euro based existing stablecoin to the Kava Platform, such as EURS or Bitstmaps EURT so you can mint USDX and swap to a Euro stablecoin or borrow a EURO stablecoin but then you would benefit from rewards and borrowing on Kava Lend would be limited to 25% LTV so not what you want
Strong case. I'm dutch.. all banks have low interest or negative.
like!
just thinking after Kava-9 update or may be later, if all the IBC asset can freely flow and interchange, eEUR from e-money might be a way out for this gentleman.
This is an awesome idea. As others have said, the concern might be liquidity, but besides that, I don't see a fundamental or technical reason why kava should not expand out to the 2nd most traded currency in the world. My only concern is that this might take a lot of time to research and develop, and there is already a lot on the plate for the dev team to accomplish, so this seems like a 'nice to have / convenience feature' but not really that important to kava's success seeing as how there are already stablecoins pegged to euro, and channels available to move around in that fashion. Trying to add this would take resources away from other items that are being worked on, so there would have to be a strong case being made backed with data/evidence to show why this should be a high priority ticket item such as proof of demand /market share expansion and so on. Let's not forget the possible regulatory issues that kava might have to face from doing this.
well the EU market is lower and why dilute the demand…
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