$ARKHAD

Today we are introducing KaspaDollar, an initiative led by core developer @asaefstroem to build the first decentralized stablecoin on the $KAS network. The developments around @kccforum and the Toccata hardfork have considerably widened what Kaspa is capable of. Capability alone, however, does not make an ecosystem. Decentralized finance requires a unit of account that holds its value, and until Kaspa has a stablecoin of its own, every application built on it will remain dependent on assets issued elsewhere. The design we intend to follow is the decentralized, overcollateralized stablecoin: a pattern whose security properties have been examined and tested across the industry for the better part of a decade. With the support of the core team, we consider the conditions right to bring it to Kaspa. Realizing this requires development, an independent audit, further research, and the operational work of taking a protocol from specification to production. To fund it, we are opening a fundraiser with a target of 5,000,000 KAS. Contributions are made directly to the fundraising address published on the website. Should the target not be reached by 1 January 2027, every contribution will be returned to the address from which it was sent. Up until that point, this account will share the plans, details and progress of the work as it develops.