Hover Labs

Kolibri is an upcoming decentralized finance (Defi) application that will enable any XTZ holder on the Tezos network to mint a stablecoin, kUSD, that is backed by the tez they hold. kUSD is a new stablecoin that is pegged 1:1 to the US dollar, is backed by tez and secured by the Harbinger price oracle. Kolibri uses Harbinger to ensure that the value of the tez backing kUSD always remains greater than the kUSD that has been minted. As a tez holder, when you mint kUSD, you can continue to delegate to the baker of your choice and receive staking rewards on the tez you hold, even while it is used to secure your kUSD. Every cycle, when you earn more te, you'll have more collateral, which will allow you to mint more kUSD.

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Kolibri

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