IDK is an ERC20 stablecoin issued by the IDK Foundation, a trusted charitable company whose vision is to promote financial inclusion and technological advancement for the Indonesian economy through blockchain technology.

For those of you who don’t know, stablecoins are crypto assets that maintain a stable and predetermined value. This allows stablecoins to function as a global medium of exchange, a unit of account, and a low-volatility store of value.

Stablecoins are able to maintain a constant set value by grouping their value into existing assets, such as into fiat currency, other crypto assets, or also through algorithmic means. IDK uses the fiat collateral model. Therefore, IDK will always have a value pegged to the Indonesian Rupiah or IDR, so 1 IDK is equal to 1,000 Rupiah.

Given that Bitcoin and other crypto assets are known for their price volatility, stablecoins offer a solution by being a low-volatility medium of exchange—which allows for direct settlement of trades without going through the banking system. With IDK, you can transfer Rupiah globally quickly, stably, and at low costs.

For every 1,000 Rupiah deposited with the IDK Foundation, 1 IDK will be released. Vice versa, for every 1,000 Rupiah withdrawn from the IDK Foundation, 1 IDK will be removed from circulation. This is done to ensure that every IDK that has been in circulation can always be backed up with the appropriate Indonesian Rupiah (IDR).

Until now, the number of circulating IDK is set to only reach 10 million IDK. For this reason, Indodax is here as a place for traders who want to have an IDK easily and quickly. Want to have an IDK? Come on, buy it now at indodax.com and don’t forget to subscribe to our YouTube channel!