Photo by Marco Oriolesi on Unsplash

Friends and fellow Kolibri enthusiasts, today is a great day!

We’ve completed our testing and verification of the Kolibri DAO taking control of the protocol, and done every bit of testing and verification we can possibly think of to do to ensure that the Kolibri DAO can safely control the Kolibri protocol.

kDAO Airdrop/Migrating Control

At this point, we’ve completed the kDAO airdrop (using this data), and over the next week or so will be cutting over Kolibri’s components to their respective break glass contracts (which the DAO is an admin for) one at a time.

This process requires multisig operations from the…

Photo by Lili Popper on Unsplash

Thank you all for your patience as we’ve been working to roll out the Kolibri DAO & Governance process. Today, we’d like to communicate the specifics of the Kolibri Governance Platform, governance token (kDAO), as well as outline the final steps towards a mainnet release. We know it’s been a long journey but we wanted to ensure that this upgrade goes as smoothly as possible to ensure that Kolibri is around for many years to come — a few weeks seems like an easy cost to help solidify that.

We have spent the last several weeks doing extensive QA processes…

Kolibri DAO will power governance for Kolibri, an algorithmic stablecoin built on Tezos

Kolibri is an algorithmic stablecoin based on Tezos that was launched earlier this year. It has quickly become one of the most popular DeFi projects on Tezos, with over $10M in TVL locked in the protocol and $1M+ worth of kUSD backed by that TVL.

When Hover Labs launched the Kolibri protocol in February of this year, we expressed that our governance philosophy was to prove the safety of the protocol, and to slowly decentralize over time, with the goal of ensuring on our way out that no other entity can ever unilaterally control the protocol. …

By Hover Labs

In February, Hover Labs launched Kolibri, an algorithmic stablecoin protocol on Tezos.

Since launch, we’ve seen incredible interest in the project. At current time, over 728 CDPs have been opened and over 1.4M XTZ (~9M USD) of value is locked in the protocol backing 1.2M kUSD.

We’ve also successfully tweaked economic parameters (the stability fee and debt ceiling) to bring the value of kUSD back to peg. For those curious, we publish and distribute metrics of the system.

Now that we’ve gotten relatively close to peg with the stability fee adjustments, our focus turns to utilization and…

By Hover Labs

The symbol of the Kolibri Stablecoin

Kolibri, the algorithmic stablecoin pegged to the US dollar we’ve been working on for the past few months, is now live on Tezos mainnet! This represents a huge milestone that we’ve been clipping towards, and it’s so exciting to see it finally in a state where we’re opening it to the world.

This week, we deployed a release candidate of the Kolibri production contracts, using the past week or so to perform extensive testing. Today we finally feel confident opening those contracts to the public.

Kolibri represents an independently useful asset which enables trustless stable value payments…

Photo by James Wainscoat on Unsplash

Today, Hover Labs is debuting Kolibri.js, a JavaScript SDK for working with kUSD and the Kolibri protocol.

Kolibri.js is a wrapper for all aspects of the Kolibri protocol, including working with core contracts, ovens, and Harbinger Oracles. The SDK abstracts away details of working with the Kolibri contracts so that developers can simply build.

In fact, Kolibri.js is the same toolchain Hover Labs uses to build the Kolibri front end. One of the most powerful parts of DeFi is that the smart contracts which power the protocols are open by default. Over time, we hope Kolibri.js …

Photo by James Wainscoat on Unsplash

By Keefer Taylor, Luke Youngblood and Ryan Sears

Just over a two weeks ago we announced Kolibri, a new algorithmic stable coin for Tezos. Since our testnet launch, we’ve seen over 140 ovens created and over 700,000 (testnet) XTZ locked in them, backing nearly 250K of kUSD. DeFi is booming on Delphinet!

We’re also incredibly grateful to our community of users and testers who helped us ferret out and fix quite a few bugs in our front end. Thanks to all folks who joined our discord server and suggested new features and have diligently reported and reproduced bugs with us…

By Keefer Taylor, Luke Youngblood and Ryan Sears

In late 2020, we set out to build Kolibri, a set of smart contracts on Tezos which can be used to issue kUSD, a trustless, algorithmic stablecoin that is collateralized by XTZ and soft pegged to the US Dollar.

Today, we’re excited to share the testnet version of Kolibri, accessible on Tezos’ Delphi testnet at We’ve also started a Kolibri Discord where you can come hang out with us and ask any questions you have. To use Kolibri, you’ll need to have the Thanos wallet browser extension installed.


Kolibri is a system of smart contracts on Tezos which issue kUSD, a trustless, algorithmic stablecoin that is collateralized to XTZ and soft pegged to USD.

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