{"signature": "0xc1ef5147728ae4cafd492ddd4d8c1434aed282dbc29995225edba0b772142c86497d498ab20805690da5e66df6663c1e7acb82f8259ae9a17eba4cb3def172301b", "application": {"round": "0x4da62203fcf7f1bd693a170d80f6cd0eff2454f5", "answers": [{"type": "paragraph", "hidden": true, "question": "Project Email Address / Team Member Email Addresses / Team Member Telegram Handles", "questionId": 0, "encryptedAnswer": {"ciphertext": "vD2G7kOMGNISzqQYfN13c5fbJcLOZM6u/fm2xk2vvbadGGc3ACV33J2rv9HJBgZf2iiknijgyHzir76z6Kx5mwKgerZEkY2zFKqc2Efl2Pj/IjjrJvLIlDWrplOJ4bHQ2O1vwq86X6mRy1jHozgKKymgnxaZKdvuXSJSjreEF5g=", "encryptedSymmetricKey": "d6f399c818470b8f8ac15436f0733da68a336f7802d82465ad25deccc65979d24083a968b37a9f0379286c9afce24f11e71cec22637675e06cfcd2be4c8ccb9032c7633fd74e02c36da82279fec8e5d7b565f2a3647600a8b5173c26ef75fea73b7731e42f40d7f9699b8b5b56d116f685c636b0cd839fb472983c0aad6570380000000000000020a82a839ecf1358444f83e19bec552ab7b942072afe1c15c410edb86334173856599e4ca37d333b9dc58e7dc44899feb2"}}, {"type": "short-answer", "hidden": true, "question": "Are any parties involved in this project currently subject to any U.S. sanctions or located in a country that is subject to U.S. sanctions?", "questionId": 1, "encryptedAnswer": {"ciphertext": "1kDDiN6ItvZ6WYX0zKFwqUXdBLYQCL5HDnpgnucRfuc=", "encryptedSymmetricKey": "e3b326965a98a07a47ca65856e269e499aac286c52b5cc890224cd178a879c4973a986160a7e0f0ed64c74a0a6ee34002df2097c9de7d86d2964cb04e42f6571cddbb17d43a2d3e54040aa8848f294254e8aae6bb6d6352b510ce3db3f0c58a466fc2be14fe7ab3ac4cad3cfc398947f812d7d4ef5b68a25d80f53abde179f41000000000000002071f94905968dfdd205db528eed225ce00b95864827d42f09292c9cd9c17d154da116caa183b248c698362b97ac2e9980"}}, {"type": "paragraph", "answer": "Kroncash is a stablecoin that acts as a hedge against inflation by deriving its value off of obsolete currencies that were shut down by centralized policy. Our current project Kroncash-Franc, which derives exchange rates from the Franczone that spanned 16 countries, adjusts for value by USD inflation, and its returns are used to finance French business, climate, and philanthropic causes.  Together, we pledge 20% of transaction fees as well as yield farming returns from the platform are used to fund French blockchain and business operations that together integrate both Europe and Africa into WEB3.", "hidden": false, "question": "Project Summary (1-3 sentences for social media)", "questionId": 2}, {"type": "short-answer", "answer": "02/17/2024", "hidden": false, "question": "Project Inception Date", "questionId": 3}, {"type": "paragraph", "answer": "Christian Gardner - @kroncashman2002 (twitter)\n\n\nNikola Banovic - 0xmrzero (discord)\n", "hidden": false, "question": "Project Team Members (plus social links)", "questionId": 4}, {"type": "short-answer", "answer": "Christian Gardner", "hidden": true, "question": "Which project steward is a member of OpenCivics?", "questionId": 5}, {"type": "short-answer", "answer": "No", "hidden": false, "question": "Have you received a grant from OpenCivics previously?", "questionId": 6}, {"type": "short-answer", "answer": "$0", "hidden": false, "question": "What is the total amount of funding your project has received to date?", "questionId": 7}, {"type": "short-answer", "answer": "$0", "hidden": false, "question": "What is the total amount of funding your project received in 2023?", "questionId": 8}, {"type": "paragraph", "answer": "For personnel expenses we have a total of $16,000 which includes ancillary wages. The Kroncash team includes 2 full time equivalents for a project of 4 months. These details include 1.0 FTE Project Lead ($2000/m), 1.0 FTE Economic Data Research Lead ($2000/m).\n\n\n\n\nThis project also requires technical infrastructure costs of $4,800 for the 4 months period. This includes $2,100 for servers and hosting, and $1,900 for technical tooling, and $800 for domains.\n\n\n\n\nAdditionally we require office space costs to be covered in order to promote productive and efficient work collaboration. Although we have members working at home, we need 4 office seats at $300 a month. This adds up to be $4,800. Miscellaneous costs will not occur.\n\n\n\n\nIn total this adds up  to a total cost of $25,600 for the project.\n", "hidden": false, "question": "If your project has any public reports or documentation on its budgeting and finances, please share links here:", "questionId": 9}, {"type": "paragraph", "answer": "The KronCash initiative, highlighted in its latest whitepaper, embodies a transformative approach to currency, merging the robust economic principles of historic European currencies with the decentralized governance mechanisms of Web3 technology. At the heart of this project are the \"Kronlets\"—a digital currency derivative of the historic French Franc. These Kronlets are engineered to harness the intrinsic value of the Franc, adjusted for modern inflation rates, thus offering a stable, trust-based investment that counters the volatile nature of contemporary financial markets.\n\n\nBy leveraging detailed historical economic data, KronCash effectively recalibrates the value of the French Franc to its contemporary equivalent, utilizing blockchain technology for real-time data accuracy and transparency. This system ensures that the Kronlets not only represent a nostalgic recall of monetary stability but also function as a dynamic, inflation-responsive asset. The KronCash ecosystem, therefore, offers a dual benefit: it acts as a hedge against inflation while also revitalizing the economic virtues of past successful currencies.\n\n\nThe integration of these historic economic values into a modern decentralized framework allows for a form of economic governance that is participatory and transparent. KronCash's governance model empowers its community by enabling token holders to vote on critical decisions, from policy changes to new currency introductions. This democratization of economic governance is in line with the ideals of liberty, equality, and fraternity, reflecting a commitment to anti-establishment values by redistributing power from traditional financial entities to the individual investor.\n\n\nThe profound impact of the KronCash and Kronlet system extends beyond individual gains, influencing the broader economic landscape by introducing a stable, trust-oriented currency that is less susceptible to the whims of geopolitical shifts and policy changes within the Eurozone. This approach not only mitigates risks associated with centralized monetary policies but also provides European economies with a model for financial stability that is rooted in the proven economic history of one of its strongest historical currencies.\n\n\nFurthermore, the deployment of Kronlets within the blockchain ensures that every transaction and adjustment is recorded on a secure, immutable ledger, enhancing the trust and security for investors. This transparency is crucial in fostering a reliable economic environment where investors can make informed decisions based on accurate, tamper-proof data.\n\n\nThe KronCash project, therefore, is not just a revival of the Franc's economic principles but a redefinition of how modern European policies can integrate with decentralized financial systems to create a healthier, more stable economic environment. By investing in the value of historical economic success, KronCash offers a sustainable pathway to economic growth and stability, guided by the principles of decentralized governance and supported by the latest advancements in Web3 technology. \n\n\n\n\nBuilding on the transformative approach of the KronCash initiative, the project not only revives the historical economic principles of the French Franc but also actively contributes to promoting the French economy and its peripheral influences. By anchoring its digital currency, the Kronlets, to the historical values of the Franc, KronCash fosters a unique economic ecosystem that supports both local French businesses and the broader philosophical and cultural heritage associated with France’s legacy of liberty and philosophy.\n\n\nThe real-world impact of KronCash on the French economy is significant, facilitating economic activities that echo the country's storied past of fostering enlightenment and entrepreneurial spirit. This economic stimulation extends to businesses within the region by providing them with a stable, reliable currency that shields them from the volatility typically associated with modern financial systems. The stability introduced by KronCash encourages investment and growth within local businesses, reinforcing the French economy’s global competitiveness and its foundational role in European financial history.\n\n\nMoreover, KronCash's commitment to decentralized governance and community empowerment resonates deeply with France's historical advocacy for liberty, equality, and fraternity. By utilizing a governance model that allows token holders to make decisive contributions to policy-making, KronCash not only promotes a financial democracy but also embodies the philosophical tenets that have long been celebrated in French culture.\n\n\nAdding to its societal contributions, KronCash has implemented a visionary grant system funded by the revenues generated within the KronCash ecosystem. This grant system is democratically governed by its community of token holders who vote on the allocation of both Kronlets and fiat resources. One of the most impactful aspects of this system is its focus on reviving and financing the \"Franc Zone\" — a monetary union in which the Franc previously circulated, including several African countries that were once territories under French administration.\n\n\nThis reintegration of the Franc Zone not only serves to enhance economic ties with these regions but also provides critical financial support to African entrepreneurs and businesses. By channeling investments into these economies, KronCash supports their growth and development, fostering economic independence and innovation. This initiative extends the spirit of the French economic influence, promoting development based on a model of stability, growth, and historical economic success.\n\n\nIn sum, the KronCash project does more than just reintroduce a historical currency in a modern digital form; it actively participates in crafting a robust economic network that spans continents and cultures, driven by principles of stability, trust, and community governance. Through its strategic initiatives and democratic allocation of resources, KronCash is setting a precedent for how decentralized financial systems can profoundly impact global economic landscapes, championing development, and innovation in line with historical values of liberty and economic philosophy.\n", "hidden": false, "question": "What is your project’s long term vision for civic impact?", "questionId": 10}, {"type": "multiple-choice", "answer": "Participatory governance and/or learning", "hidden": false, "question": "Which areas of collaborative infrastructure does your project address, if any? ", "questionId": 11}, {"type": "paragraph", "answer": "Phase 1: Conceptualization and Planning \n-Whitepaper Creation \n - Define the mission, vision, and goals of Kroncash and Kronlet. \n - Specify technical requirements for stablecoin and other ecosystem components. - Feasibility Study \n - Research legal and regulatory requirements for operating in targeted jurisdictions.  - Analyze market demand and competitors in the stablecoin space. \nPhase 2: Technical Infrastructure Setup \n- Smart Contract Development \n - Design and develop the core smart contracts for Kronlet stablecoin. \n- Deployment on Testnet \n - Use Hardhat framework for developing and debugging and deploying. \n - Deploy contracts on a testnet for trial runs and debugging. \n- Security Audits \n - Engage third-party services for security audits of the smart contracts. \nPhase 3: DApp and User Interface \n- Web Platform Development \n - Design and develop the initial version of the DApp website interface. \n- Web3 Integration \n - Integrate Web3 functionalities to allow users to interact with contracts directly from the DApp. - Wallet Integration\n - Ensure compatibility with major wallets (e.g., MetaMask, WalletConnect, Coinbase, Binance). \nPhase 4: Multi-chain Compatibility \n- Cross-chain Bridges \n - Build or integrate cross-chain solutions to make tokens transferable across different blockchains. - EVM Chains Deployment \n - Deploy contracts on multiple EVM-compatible chains for broader access. \nPhase 5: Stablecoin Launch and Initial Features \n- Kronlet Stablecoin Launch \n - Official release of the stablecoin on mainnet. \n- Reserve Backing and Fee Structure Establishment \n - Set up reserve funds and define fee structures for transactions and services. \nPhase 6: Expansion and Utility \n- Value Appreciation Mechanism \n - Implement features that can drive the appreciation of the stablecoin's value. - Liquidity Pool Mechanisms \n - Establish liquidity pools for Kronlet with incentives for providers. \n- Collateral Utility and Reserve Financing \n - Develop use cases for collateral within the ecosystem to strengthen the financial model. \nPhase 7: Governance Token and Incentives \n- Kroncash Token Launch \n - Issue governance token (Kroncash) and detail its role within the ecosystem. - Market Dynamics Management \n - Create market-making strategies and tools for managing Kroncash's presence in the market.\nPhase 8: Long-term Strategies \n- Kroncash Burn Strategy \n - Determine and enact policies for burning Kroncash tokens to manage supply. - Partnerships and Integrations \n - Seek out strategic partnerships to expand the utility and recognition of the ecosystem. \nPhase 9: Community Building & Marketing \n- Community Engagement \n - Begin extensive marketing campaigns and community management efforts to build a user base. - Feedback and Improvement \n - Collect user feedback and continuously improve the platform features based on insights gained. \nPhase 10: Compliance and Scaling \n- Regulatory Alignment \n - Regularly review compliance with global regulations and adapt as needed. \n- Scaling Solutions \n- Implement scaling solutions to accommodate increased transaction volume and participation. \nPhase 11: Performance Review & Feature Upgrades \n- Ecosystem Audit \n - Conduct comprehensive audits of ecosystem performance, financial stability, and user engagement. - Advanced Features Roll-out \n - Release advanced features like DAO governance, DeFi integrations, additional collateral options, etc. \nPhase 12: Sustainability and Evolution \n- Sustainability Initiatives \n - Ensure eco-friendly practices are integrated into the ecosystem operations. \n- *Future-proofing\n - Stay abreast of industry advancements to ensure long-term relevancy of the Kroncash and Kronlet  ecosystems.\n", "hidden": false, "question": "How would you classify the types of activities this grant will fund?", "questionId": 12}, {"type": "paragraph", "answer": "Phase 1: Conceptualization and Planning \n-Whitepaper Creation \n - Define the mission, vision, and goals of Kroncash and Kronlet. \n - Specify technical requirements for stablecoin and other ecosystem components. - Feasibility Study \n - Research legal and regulatory requirements for operating in targeted jurisdictions.  - Analyze market demand and competitors in the stablecoin space. \n\n\n", "hidden": false, "question": "Please describe the first milestone within your project which you hope to achieve with the funding from this grant round?", "questionId": 13}, {"type": "paragraph", "answer": "In Phase 1: Conceptualization and Planning of the KronCash project, meticulous steps are taken to lay the foundation for a robust and legally compliant cryptocurrency initiative. Here’s a detailed outline of how each step will be verified:\n\n\n### Whitepaper Creation\n**Mission, Vision, and Goals Definition:**\nThe initial step involves articulating the mission, vision, and goals of KronCash and its stablecoin, Kronlet. This document serves as the cornerstone of the project, guiding all subsequent development and operational strategies. Verification of this phase includes internal and external reviews by project stakeholders and advisors to ensure that the whitepaper accurately reflects the project's objectives and potential impact. Feedback will be incorporated to refine the document until it aligns with the strategic direction agreed upon by the leadership team.\n\n\n**Technical Specifications:**\nThe whitepaper will also detail the technical requirements for the Kronlet stablecoin and other critical ecosystem components, such as interoperability features, scalability solutions, and integration with existing blockchain infrastructures. This section will be crafted in collaboration with technical experts and blockchain developers to ensure feasibility and innovation. The accuracy and viability of the technical content will be validated through peer reviews and consultations with industry experts to ensure the project is built on a sound technological base.\n\n\n### Feasibility Study\n**Legal and Regulatory Research:**\nUnderstanding the legal landscape is crucial for the successful launch and operation of KronCash. This step involves a thorough analysis of the regulatory requirements for cryptocurrencies and stablecoins in all targeted jurisdictions. The project will engage with legal experts specializing in blockchain technology to navigate complex regulatory frameworks. The verification of this research will be documented through legal advisories and compliance memos that ensure KronCash adheres to all applicable laws and regulations.\n\n\n**Market Demand and Competitor Analysis:**\nTo verify the market viability of KronCash, comprehensive market research will be conducted to assess demand for the Kronlet stablecoin and to analyze key competitors in the space. This research will include gathering data on market trends, user preferences, and potential barriers to adoption. Tools such as surveys, focus groups, and analysis of existing market reports will be employed. The findings will be reviewed and validated by market analysts and used to refine the project's marketing and operational strategies.\n\n\n### Documentation and Community Feedback\n**Public Review and Input:**\nOnce the whitepaper and feasibility studies are complete, they will be made available to the public, inviting feedback from potential users, investors, and other stakeholders in the cryptocurrency community. This open review process aims to foster transparency and engage the community early in the project's life cycle. Feedback will be collected, analyzed, and incorporated into the project planning to ensure that KronCash is well-aligned with user needs and expectations.\n\n\n**Formal Presentation to Stakeholders:**\nThe finalized whitepaper, along with the results of the feasibility studies, will be formally presented to stakeholders, including potential investors, partners, and industry peers, during pitches and meetings. This step ensures that all parties involved are fully informed about the project's scope, potential challenges, and the strategies planned to overcome them. The feedback and endorsements received during these presentations serve as additional verification of the project’s readiness to move to the next phase.\n\n\nIn summary, Phase 1 of the KronCash project is critically focused on meticulous planning and extensive verification to ensure the project is both visionary and grounded in practical, achievable goals. By engaging experts, the community, and stakeholders, and by documenting every step for transparency, KronCash sets a solid foundation for succeeding phases of development and deployment.\n\n\n", "hidden": false, "question": "How can this first milestone be verified?", "questionId": 14}, {"type": "paragraph", "answer": "Phase 2: Technical Infrastructure Setup \n- Smart Contract Development \n - Design and develop the core smart contracts for Kronlet stablecoin. \n- Deployment on Testnet \n - Use Hardhat framework for developing and debugging and deploying. \n - Deploy contracts on a testnet for trial runs and debugging. \n- Security Audits \n - Engage third-party services for security audits of the smart contracts. \n\n\n", "hidden": false, "question": "(Optional) Please describe the second milestone within your project which you hope to achieve with the funding from this grant round?", "questionId": 15}, {"type": "paragraph", "answer": "To ensure the integrity and security of the KronCash project during Phase 2: Technical Infrastructure Setup, meticulous verification processes will be implemented. Here's a detailed explanation of how each step will be verified:\n\n\n### Smart Contract Development\nThe development phase for the core Kronlet stablecoin smart contracts will adhere to best practices in coding and security. The design and development process includes multiple internal reviews and testing phases to ensure the contracts are logically sound and function as intended. By adhering to established smart contract programming standards, the team minimizes risks early in the development cycle.\n\n\n### Deployment on Testnet\nOnce the smart contracts are developed, they will be deployed on a testnet using the Hardhat development framework, which is renowned for its robust testing and debugging capabilities. This step is critical as it allows developers to simulate the contract deployment in an environment that mirrors the mainnet without risking real funds. During this phase, the contracts will undergo extensive testing to catch any bugs or vulnerabilities and to ensure they interact correctly with other blockchain components. The results from testnet deployments will be meticulously documented, providing a transparent record of the tests and their outcomes.\n\n\n### Security Audits\nFollowing testnet validation, the smart contracts will undergo rigorous security audits by reputable third-party services. These audits are crucial for identifying and mitigating potential security risks, ensuring that the smart contracts are secure and ready for deployment on the mainnet. Audit reports will be made publicly available, providing a verifiable record of the security checks performed and the outcomes. This transparency helps build trust within the community and among potential investors.\n\n\n### Use of Hypercerts\nTo further enhance the transparency and verification process, Hypercerts will be utilized to document and verify the successful completion of each phase. Hypercerts are blockchain-based certificates that provide immutable proof of certain actions or achievements. By recording the successful development, testnet deployment, and security audits on the blockchain, the project ensures that all verification information is tamper-proof and publicly accessible. This method offers an additional layer of confidence in the integrity of the project.\n\n\n### Public Documentation and Voting\nFinally, the entire process—from smart contract development to the outcomes of the security audits—will be well-documented and made available for public review. This documentation will be essential for informed decision-making when it comes to community voting on subsequent policy decisions. The use of platforms like Snapshot for governance voting allows token holders to participate actively in decision-making, ensuring that all policy changes or implementations are backed by community consensus.\n\n\nIn summary, each step of the Technical Infrastructure Setup phase for the KronCash project is designed to be transparent and verifiable. By integrating advanced tools like Hardhat for development and testing, engaging with third-party auditors, utilizing Hypercerts for documentation, and facilitating community-driven governance through platforms like Snapshot, the project not only ensures the security and functionality of its technical infrastructure but also fosters trust and active participation among its stakeholders.\n\n\n", "hidden": false, "question": "(Optional) How can this second milestone be verified?", "questionId": 16}, {"type": "paragraph", "answer": "Phase 3: DApp and User Interface \n- Web Platform Development \n - Design and develop the initial version of the DApp website interface. \n- Web3 Integration \n - Integrate Web3 functionalities to allow users to interact with contracts directly from the DApp. - Wallet Integration\n - Ensure compatibility with major wallets (e.g., MetaMask, WalletConnect, Coinbase, Binance). \n", "hidden": false, "question": "(Optional) Please describe the third milestone within your project which you hope to achieve with the funding from this grant round?", "questionId": 17}, {"type": "paragraph", "answer": "In Phase 3: DApp and User Interface of the KronCash project, the focus shifts to the practical aspects of application development and ensuring seamless user interaction with the platform's functionalities. Here's a detailed outline of how each step will be verified:\n\n\n### Web Platform Development\n**Design and Development of DApp Website Interface:**\nThe initial version of the DApp (Decentralized Application) website interface is designed and developed to provide users with a straightforward, intuitive experience. The design process includes drafting user interface (UI) and user experience (UX) blueprints that align with the overall aesthetic and functional goals of the project. The development phase follows, where these designs are translated into working web pages. Verification of this step involves:\n- **Usability Testing:** Conducting sessions where real users interact with the interface, providing feedback on navigation, clarity, and overall experience. This feedback is used to make iterative improvements.\n- **Technical Review:** Having developers and designers review the website to ensure it meets all technical requirements and is free from bugs or usability issues.\n\n\n### Web3 Integration\n**Integration of Web3 Functionalities:**\nThis crucial step allows users to interact directly with smart contracts through the DApp, facilitating transactions and engagements without needing third-party intermediaries. The integration process includes:\n- **Smart Contract Connectivity:** Ensuring that the DApp can communicate effectively with the blockchain to execute smart contract functions.\n- **Verification through Test Transactions:** Conducting multiple test transactions on the platform to verify that all Web3 functionalities operate correctly under various scenarios. This is followed by adjustments based on the outcomes.\n\n\n### Wallet Integration\n**Ensuring Compatibility with Major Wallets:**\nFor users to engage with the DApp seamlessly, the platform must be compatible with widely used wallets such as MetaMask, WalletConnect, Coinbase, and Binance. This step includes:\n- **Integration Testing:** Developing and implementing tests for each type of wallet to ensure that users can connect, authenticate, and transact without issues. Each wallet integration is verified through end-to-end testing, which simulates real user interactions.\n- **User Feedback Collection:** After integration, feedback from users who test the compatibility of their wallets with the DApp is collected to identify any issues or areas for improvement. This feedback is crucial for refining the integration process.\n\n\n### Continuous Improvement and Documentation\n**Ongoing Updates and Documentation:**\nGiven the dynamic nature of Web3 and wallet technologies, continuous updates to the DApp and its integrations are necessary. Documentation of all processes, integrations, and user feedback is maintained to ensure transparency and ease future updates. Verification of this continuous improvement process involves:\n- **Regular Review Cycles:** Scheduled reviews of the DApp's interface and functionalities to ensure they remain up-to-date with the latest Web3 developments and user expectations.\n- **Community and Stakeholder Updates:** Regular updates are provided to the community and stakeholders about new features, fixes, and improvements to the platform, fostering an ongoing dialogue and ensuring that the DApp evolves in line with user needs and technological advancements.\n\n\nIn summary, Phase 3 ensures that the KronCash DApp is not only functional and user-friendly but also fully integrated with essential Web3 and wallet technologies, allowing for a seamless and secure user experience. This phase involves meticulous testing and feedback incorporation, ensuring that each component of the user interface and integration works harmoniously to support the overall mission of the KronCash project.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n", "hidden": false, "question": "(Optional) How can this third milestone be verified?", "questionId": 18}], "project": {"id": "0x156b38dfcf4314f052d5b28d3b53de33be9f386f9942299452ddf81471eb073f", "title": "KronCash ", "logoImg": "bafkreibctj6t75yus37blhqidgsgmmny7q5mgmbaqnqqqyvvzs6wocm6ny", "metaPtr": {"pointer": "bafkreieto5vejq3xqq5q5tetopwxziqemu2kcax5tci4wo27j2si6obqce", "protocol": "undefined"}, "website": "https://www.kroncash.org/home", "bannerImg": "bafkreib4q7hwugb6ddmzx5fhsi6z36sguncxf7oy7lgudxzt4nqdi6clk4", "createdAt": 1713029622548, "userGithub": "KRONCASHMAN", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..zAYZ1Kq_KiiB1sexT58It5N0HzquoPPG3YueM3IIuW-ZQOIJ5fh0AVQn8m7e1znXkrmfZtfVVuXOJER5s_M2Dw", "type": "Ed25519Signature2018", "created": "2024-04-13T17:33:37.606Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-13T17:33:37.606Z", "expirationDate": "2024-07-12T17:33:37.606Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x9B1049c1Ce67169F210d1D6ea5D2E2D6E644C450", "hash": "v0.0.0:z28dk59nqSgLoBPbZlBRbIiwG3SyZoGjHEoCins6uYw=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#kroncash2002"}}}, "description": "Kroncash is pioneering a groundbreaking approach within the decentralized finance (DeFi) sphere by reviving and capitalizing on the economic legacy of currencies made obsolete by the adoption of the Euro, such as the French Franc. The platform employs a unique DeFi model, Resurrected Currency Anti-Inflation Tokenized Derivatives (RCATD), which not only resurrects these currencies in a digital format but also integrates a dynamic framework for inflation adjustment and community-based governance. This innovative strategy addresses a critical void left by the Euro's homogenization of diverse economic landscapes, restoring a form of monetary sovereignty and economic identity to regions once defined by their unique currencies.\n\nKroncash's approach to revitalizing the French Franc involves creating a derivative token known as the Kronlet. This token's value is directly tied to historical exchange rates and adjusted for current inflation metrics. By doing so, Kroncash offers a stablecoin whose value appreciates in alignment with actual cost-of-living increases, unlike traditional stablecoins which typically aim to maintain parity with existing fiat currencies without appreciation. This inflation adjustment mechanism ensures that the Kronlet not only serves as a reliable store of value but also as a hedge against inflation, making it an ideal asset for both saving and investment.\n\nThe platform’s governance structure allows token holders to participate actively in decision-making through voting. This democratizes financial governance and gives stakeholders a direct role in guiding the development of the Kroncash ecosystem. Through these votes, users can influence critical aspects of the platform, such as the direction of philanthropic efforts and the allocation of resources within the ecosystem. Such a model empowers users by giving them a stake not just in the platform’s financial success but also in its strategic and operational choices.\n\nPhilanthropy is a cornerstone of Kroncash's mission, with a specific focus on benefiting the regions historically connected to the French Franc, particularly those in the CFA Franc zone in Africa. By leveraging the economic activity generated through Kronlets, Kroncash directs a portion of transaction fees into charitable projects and development initiatives within these regions. This not only helps mitigate some of the economic disruptions caused by the transition to the Euro but also supports sustainable development in underprivileged areas. Projects funded through this initiative aim to enhance local infrastructure, education, healthcare, and economic opportunities, directly contributing to the welfare and development of these communities.\n\nMoreover, Kroncash’s impact extends to French businesses by facilitating investments and financial activities that boost local economies. By creating a stable yet appreciative digital currency that reflects the historical strength of the French Franc, Kroncash provides French businesses with a novel financial tool to hedge against inflation and engage in cross-border trade without the volatility associated with traditional cryptocurrencies.\n\nIn essence, Kroncash is not merely reintroducing an obsolete currency; it is reshaping economic landscapes by integrating advanced blockchain technology with traditional economic values. This synthesis enables a stable and prosperous ecosystem that not only preserves the economic history and identity of regions affected by the Euro but also fosters economic growth, stability, and philanthropy, leveraging the past to empower the future. Through Kroncash, the once vibrant economic sovereignties overshadowed by the Euro are revived and given new life in the digital age, creating real-world impacts that echo beyond mere financial transactions.\n", "lastUpdated": 0, "projectGithub": "KRONCASH-FRANC", "projectTwitter": "kroncash2002"}, "recipient": "0x9B1049c1Ce67169F210d1D6ea5D2E2D6E644C450"}}