Getting to Know Indonesian-Made Cryptocurrencies

- 14 January 2022 14:01 WIB
These assets are vulnerable to behind-the-scenes tampering. (Unsplash/Mathieu Stern)
These assets are vulnerable to behind-the-scenes tampering. (Unsplash/Mathieu Stern)

JAKARTADAILY.ID – In Indonesia, asset investment is getting more popular. It's no surprise that certain bitcoin businesses discovered prospects, one of which is the issuance of crypto assets. As a result, various crypto assets are currently are starting to emerge from within the country.

Toko Token (TKO), a cryptocurrency launched by Tokocrypto, is one of the CoFTRA-approved markets. TKO can be utilized in CeFi's savings schemes, such as TKO Deposit and TKO Rebate. TKO was the first indigenous Indonesian crypto platform to offer a new hybrid token format, notably the CeFi and DeFi utilities when it was launched at the end of March.

Indonesia also has Zipmex Exchange who also owns a Zipmex Token (ZMT). This token was intended to enhance and grow the Zipmex ecosystem. Zipmex now allows ZMT owners to stake their coins and earn incentives in the form of ZipUp, which can be used to raise cashback while using ZipPay. The staking time is three months, and the annual yield presentation (APY) is sixteen percent.

XAU Token, produced by Xaurius, is another Indonesian crypto asset that uses Antam's gold as the underlying asset. The XAU token, which is based on the concept of a stable coin, has a value linked to real assets, with 1 XAU equaling 1 gram of gold.

The basis for the creation of the XAU token, according to Antam Director of Xaurius, Nicco D Lawrence, was their endeavor to transform the existing gold sector by developing infrastructure-based blockchain. The use of blockchain to tokenize gold is anticipated to guarantee secure and transparent transactions.

Christopher Tahir, the co-founder of Cryptowatch and the manager of the Duit Pintar platform, explained to Kontan that the interest-paying function when investors stake the currency can indeed be an advantage for investors. However, he cautioned that if instability arises, both TKO and ZMT may undergo a more severe correction than Bitcoin.

And in the case of XAU, he is skeptical since investors are unsure whether these commodities exist. He's concerned because these assets are vulnerable to behind-the-scenes tampering. So, he advises investors, especially the new ones, to be careful with what they're going to invest if the assets are new to the scene.

Editor: Mukhtar Wijaya

Source: kontan.co.id

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