Kolibri is now LIVE on Mainnet!

By Hover Labs

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The symbol of the Kolibri Stablecoin

A Broader Ecosystem

Kolibri is more than just a set of smart contracts and corresponding web applications. Over the last few weeks we’ve been open sourcing and adding more features and designs, including public monitoring and statistics, real time events reporting, and an SDK.

Get Involved

Join the Community:

  • Come meet us at our (virtual) launch party this Friday afternoon at 3:30PST on Discord (Join Here!).
  • The more people that participate, the more stable the asset becomes, head to https://kolibri.finance to get started minting kUSD today!
  • Go provide some of that kUSD you mint to new tools as they emerge, and support existing tools like Dexter by becoming a liquidity provider. You earn a portion of fees, and this is another super important step to help stabilize the price. (definitely use the testnet versions of these things before putting real money in though!)
  • If you’re interested in running an arbitrage or liquidation bot, wire them up and get them arbitraging the price on places like Dexter, this can net you a healthy profit while again helping to stabilize the project itself!
  • The Kolibri Discord Bot: Which announces events happening on chain in real time to the #kolibri-updates and #kolibri-updates-testnet channels

A Note on Governance

We built Kolibri as an upgradeable protocol, which lets us tweak it’s behavior with new smart contracts or by updating parameters in the existing contracts. Kolibri is built as a minimal viable product which will function on its own, but over time, we want the protocol to be able to refine itself, add features, and rearchitect its own governance. While the next bit of this post is a bit technical, it is important that users of the protocol understand and consent to the current governance mechanism, and understand the path that it will take moving forward.

Keefer Taylor:
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Luke Youngblood:
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Ryan Sears:
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What’s Next

Kolibri is the first big ticket item Hover Labs is launching, and we built it for the Tezos community. We did this because we love to give foundations to other protocols and products, inspire other developers in the ecosystem, and to just generally make useful products. As long as products are able to be made, developers keep creating and users keep using our products, we’ll keep building more stuff.

Thank You!

Kolibri stands on the shoulders of builders, developers and tooling of the Tezos ecosystem. We’d like to thank the following folks (alphabetically):

  • Baking Bad — For making BetterCallDev and a litany of other tools that make developing on Tezos much much easier.
  • CamlCase — For building Dexter and making kUSD available at launch
  • Claude Barde — Who has consistently provided high quality technical feedback and written accessible content about our posts.
  • Cousinit — Who tirelessly helped us conform to metadata specs so that kUSD can be broadly and easily adopted, and for supporting kUSD in Kukai at lauch
  • Cryptonomic and Mike Radin — For ConseilJS which we use to build and deploy contracts, and for supporting kUSD in Galleon at launch
  • Jacob Arluck from TQ — For Governance and general advice
  • Madfish Solutions — For building Thanos, Quipuswap, and supporting kUSD at launch in Thanos. We appreciate the tireless work to help us debug and for fielding our feature requests.
  • Seb Mondet from TQ — Who provided invaluable help in configuring contract metadata and multisig contracts, often late at night or over the weekend.
  • The SmartPy Team — Who builds the smart contracting language that makes all of this work, who offered tens of hours of assistant and who built entire features to make Kolibri possible.
  • The Tezos Foundation — For a generous sponsorship of the security audit.

Technical Details

It is important to trust the software that you interact with. The official software released by Hover Labs is:

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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