Kuna tokenises Kyiv mayoral candidates

The Ukrainian cryptocurrency exchange Kuna has issued tokens corresponding to several Kyiv mayoral candidates.

A total of seven tokens were issued. For each tokenised candidate, 1 million tokens were created on the Ethereum ERC20 smart contract.

As Kuna explained, the token price reflects the probability of a particular candidate’s victory or advancement to the second round. It is determined by participants based on the candidate’s rating. The minimum token price is 0.01 hryvnias.

From 8 October, users will be able to place orders to buy the candidates’ tokens, and on 12 October token deliveries will begin.

Trading will be halted on 25 October.

Holders of the tokens for the winning candidates will receive 1 hryvnia for each token no later than three days after the official announcement of the election results.

“The idea of tokenising Kyiv’s mayoral candidates is our MVP product that will allow a glimpse into a decentralised future and will enable elections to be conducted transparently, thanks to blockchain technology,” said founder Mikhail Chobanian.

declined a request from the Belarusian Department of Financial Investigations, which demanded information about the nonprofit organization “Belarusian Solidarity Fund,” that pays compensation in bitcoins.

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