Project’s philosophy lies primarily in full support of the decentralization concept and development of open-source software. The project team's ultimate goal is to make a major contribution within the cryptographic space, by not only developing the tools and platforms for exchanging digital assets exclusively for trading and investment purposes but also to facilitate the expansion of blockchain technology usage into wider areas of people’s everyday activities and interactions.
One of the important project’s objectives is to develop a new type of decentralized exchange (DEX) platform. In comparison to the existing today DEXes, the novelty of such platform is in its greatly increased liquidity index for all traded assets. Such an increase can be achieved because each of the assets will be individually paired with one or more stable, decentralized Kovrita coins, serving as platform’s internal Trading References (c).
In its yet another innovation related to DEX development, Kovrita project is taking the approach of creating a large pool of stablecoins first and only then using them as solid, high liquidity base to develop its DEX platform. Notwithstanding and because of the decentralized nature of Kovrita stablecoins, they may also serve well to any third party DEXes by power-boosting their wider adoption and expansion. These processes are highly desired in the crypto space, as they should greatly reduce the possibility of market manipulations, lead to price volatility stabilization and open the way to the price discovery processes via natural, fair and asset-to-asset independent trading.
Kovrita stablecoins are initially created as a set of Ethereum contract-based (ERC-20 standard) coins. They are: (1) Algorithmically issued and destroyed by the array of software oracles, in real-time, in full accordance with the public's demand; (2) Hedged by the fiat money and cryptocurrencies “basket” in a decentralized manner.
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