Creators of first hryvnia-pegged stablecoin to run 300,000 UAHg bounty on WhiteBIT

Emittance Corporation has launched the stablecoin UAHg, pegged to the Ukrainian hryvnia at a 1:1 ratio. To mark the occasion, the project team, in partnership with the cryptocurrency exchange WhiteBIT, will run a bounty campaign with a prize pool of 300 000 UAHg. This is reported in WhiteBIT’s blog.

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WhiteBIT will add support for the stablecoin on December 18. The bounty campaign will run from December 14 to December 25. To participate, you need to join the event on the UAHg site and complete the tasks:

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• subscribe to Telegram, Instagram, X and other project social networks;

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• invite friends to join the bounty campaign via a referral link;

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• attend UAHg Q&A sessions;

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• complete verification on WhiteBIT.

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Organisers will award from 10 to 100 tickets for participating in each activity. The more tickets, the greater the chances of receiving a share of the prize pool. Emittance Corporation and WhiteBIT will distribute 300,000 UAHg at the end of the campaign.

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At present, the stablecoin is issued on the Ethereum, Tron and BNB Chain networks, with a total supply of 25 million UAHg. The token’s White paper is published on the project’s website.

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The issuer sells UAHg for USDT/USDC/DAI. The dollar-stablecoins are held as reserves in a Gnosis Safe wallet with a 3-of-5 multisig scheme and may be used solely for the repurchase of tokens in the future.

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The issuer trades UAHg through official distributors at the cash hryvnia rate on the Ministry of Finance’s site. The distributors sell the tokens on the secondary market through their channels.

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\”The primary aim of UAHg is to serve as a bridge between Ukraine’s domestic market and the world of cryptocurrency. The stablecoin has several use cases, each addressing its own problem. For example, it enables direct interaction with DeFi projects or avoids up to 10% deposit fees on hryvnia deposits to crypto exchanges. Already, UAHg can be purchased with a bank card on the P2P platform GEO Pay,\” the project’s creators say.

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Earlier, WhiteBIT launched the main WB Network blockchain with the native coin WhiteBIT Coin (WBT).