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Creating bridges between Kenya and the Blockchain Economy

PRESS-RELEASE-PesaDEX TokenPesa | Press Release

One of the main objectives of this project is to integrate the unbanked population into conventional finance, taking advantage of new technologies, especially the Blockchain. This offers the possibility of decentralized finance (DeFi: Decentralized Finance), and even more so if you take into account the mass adoption of mobile money in Kenya.

This scenario is beneficial for both those who have banks and those who do not. Features such as convenience, speed and low transaction fees also attract more and more, those that are banked.

What are the underlying problems and challenges?

1.Lack of dedicated crypto markets. Cryptocurrency exchanges, today, do not provide a direct mechanism to enter and exit the markets in the Kenyan Shilling quickly.

2.Cryptocurrency Volatility Despite the growing interest of Kenyan merchants to adopt the blockchain, most are still sceptical about the possible loss of value due to the price volatility associated with cryptocurrencies.

3.Regulatory uncertainty The Central Bank of Kenya has hesitated to recognize cryptocurrencies as legal tender, mainly due to its anonymous nature. The institution has advised, again and again to the general public, not to negotiate with cryptocurrencies, which further inhibits adoption.


The TokenPesa solution for Kenya and the world

Decentralized finance (DeFi: Decentralized Finance) encompasses a wide range of categories: from stable currencies, insurance and prediction markets, to decentralized exchanges. But fortunately, DeFi projects can be composed together, to form higher-order entities.

And this is where the TokenPesa comes into play, which is a triple solution of Decentralized Finance, which aims to boost the adoption of Blockchain technology in Kenya and potentially divert the development of saturated economies to the developing world.
Then we can say that this project aims and embarks on this to create bridges of mutual growth where a solution can be found that integrates a stable federated currency of the Kenyan Shilling with a decentralized network of asset management and exchange, to allow a vibrant Kenya blockchain ecosystem.


TokenPesa Reach

In essence, the TokenPesa network consists of:

1) Wrapped KSH *: An asset-backed token (stablecoin) that is linked 1: 1 to the value of the Kenyan Shilling
TokenPesa DAO *: Asset Management and Asset Management of Decentralized and Autonomous Token Wrapped KSH
PesaDEX *: A decentralized digital asset exchange network (DEX) that exchanges Wrapped KSH for multiple ERC20 tokens, for example (WKSH-HOT)

Wrapped KHS (WKSH) is an ERC20 token on Ethereum backed 1: 1 by Kenya Shilling. The WKSH follows the framework of wrapped tokens, but instead of relying on multiple custodians, it is based on a single network custodian and a consortium of agents. WKSH uses a simple federated government model and strives to promote usability.

This brings liquidity (the main bridge between the fiat KSH and the world of cryptocurrencies), faster transaction (accelerates the Kenyan Shilling transactions), transparency (fully verifiable mining, recording and transfer events in Ethereum public scouts), fees lower (transactions can be made with rates close to ZERO blockchain and federal government
(All agents in the network will be members of TokenPesa DAO (Decentralized Autonomous Organization).


2) TokenPesa DAO is a strong and scalable Decentralized Autonomous Organization, based on the DAOstack operating system. TokenPesa DAO Token (TDAT) is the native DAO token, while the TDAT reputation is the DAO reputation/voting points.
All DAO members will be holders of the TDAT reputation. Reputation points are non-transferable assets that represent the influence (voting power) that one has on the DAO. However, unlike the native token that cannot be removed from its owner, the reputation can be removed if its holder acts against the interests of DAO.


3) PesaDEX is a hybrid decentralized exchange, based on the Hydro Protocol. The WKSH will be used as the base token in PesaDEX trading pairs, for example (WKSH-WETH, WKSH-TDAT, WKSH-HOT); thus providing a liquidity gateway to and from multiple ERC20 tokens.


PesaDEX does not retain funds or customer information and only serves as a secure layer of order routing and correspondence. Unlike traditional DEXs, Hydro allows the development of decentralized exchanges that are immune to order collisions and frontal attacks.


Other advantages include:

1.A fast and robust order matching algorithm

2.Asymmetric rate structures. Trading fees are charged through the base token, WKSH

3.Market makers get refunds from manufacturers for providing liquidity

4.Free order cancellation

5.Share hybrid liquidity


Conclusion

The stable-coin of the TokenPesa Network, decentralized exchange and asset management is simple and mutually beneficial.

Stablecoin allows DEX to provide more intuitive trading pairs and improve liquidity. In return, the DEX provides arbitration and settlement mechanisms, critical processes to keep the currency stable.

Besides, the inherent price stability of the stable currency allows for a consistent decentralized asset management market; while the DEX provides multiple entry points to the ecosystem.

In this way, the best and most reliable growth of an emerging economy could be helped.


Official links:

Web: https://tokenpesa.network

Contact:  

1
Private Office of His Highness Sheikh Hamdan Bin A...
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