St. Vincent, Grenadines, 12th December 2023, ZEX PR WIRE, Kelp is a new cryptocurrency aiming to become the stable foundation of a modern, global financial ecosystem. Its mission is to succeed where other crypto projects have failed and deliver the promise of digital money by combining actual econometric models and central banking theorems.
Kelp is inspired by a growing demand within the crypto community for a stablecoin 2.0. Several prominent voices, such as Brian Armstrong of Coinbase and renowned investor Ray Dalio, have discussed the possibility of “Flatcoin” – a new stable cryptocurrency that could become a form of decentralized digital money with worldwide use.
Kelp’s mission is to transcend the limitations of existing cryptocurrencies, striving to become the cornerstone of a new, global financial ecosystem. Unlike its predecessors, Kelp doesn’t merely replicate current fiat currencies in digital form. Instead, it charts a fresh course towards universal adoption, applying the principles of central banking and sound monetary policy within a decentralized framework.
Drawing inspiration from Bitcoin, Kelp acknowledges the challenges faced by the most popular cryptocurrency in becoming a widely accepted form of digital money. Kelp addresses these issues head-on, especially the volatility stemming from Bitcoin’s fixed supply. Through the integration of blockchain technology with a sophisticated econometric model, Kelp introduces a stability protocol – the Kelp Protocol. This innovative approach positions Kelp to fulfill the essential functions of money: a medium of exchange, a unit of account, and a store of value.
The Kelp Protocol is engineered to stabilize the currency by analyzing market activity and predicting the optimal circulating supply. This system dynamically adjusts economic variables, such as interest rates, to influence market behavior, sidestepping direct market manipulation.
Adding to its appeal, Kelp has launched a mobile application, available for both iOS and Android users. The Kelp App, inspired by the success of projects like Quahl (formerly Initiative Q), allows individuals worldwide to reserve future Kelp. Remarkably, this reservation process doesn’t require financial commitment. Instead, users engage in community-building activities, like referrals and Action Tasks, to earn their stake in Kelp. Already, the app boasts a burgeoning community of 80,000 members.
As Kelp continues its journey, it stands as a testament to the potential of combining the best of traditional finance and decentralized innovation. With its unique model and growing user base, Kelp is not just a cryptocurrency but a movement paving the way for a stable, accessible digital economy.
Kelp is a Canadian fintech company comprising financial experts and crypto professionals led by entrepreneurs Edward Bishop (founder and CEO) and Rakshit Kumar (CTO and co-founder). Some of its partners include prestigious brands in the crypto space, such as industry-leading auditor SolidProof and crypto aggregator CoinMarketCap.
Kelp is developing an all-encompassing ecosystem of protocols and algorithms designed to bring about price stability. Currently, the company has an R&D division building KATE – Kelp’s Autonomous Trading Engine – that will utilize the Kelp Reserve, Kelp DEX, and smart contracts to create a unique investment solution. This product will use hedge fund algorithms to analyze the market for opportunities. It will likely come online in the Q2 of 2024.
You can download the Kelp mobile from the Apple App Store and Google Play Store to try its innovative features.
Contact Kelp here: Email
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Stocks Select journalist was involved in the writing and production of this article.