What is IDK?
IDK Token is one of the Ethereum network-based stablecoins built according to the ERC-20 token standardization and Stellar network. The token was issued by a charity company named IDK Foundation which uses a fiat collateral model. The IDK Token has a value or price of 1:1000 based on the Indonesian Rupiah (IDR) value. In this case, 1 IDK is equal to IDR 1,000.
By offering a solution for being a medium of exchange with low volatility and without going through the banking system, IDK Token allows for fast, stable, and low-cost transfers of Rupiah globally.
IDK Token aims to encourage digital currency adoption in Indonesia the largest economy in Southeast Asia. This is done by issuing 1 IDK into circulation for every Rp1,000 deposit that is deposited with the IDK Foundation. That way, every IDK Token that has been in circulation will always be backed up with liquid assets whose value is equivalent to the appropriate Indonesian Rupiah (IDR).
Not only Indonesian Rupiah (IDR), starting May 2022, IDK Token will also have other reserved assets, namely Bitcoin and stablecoins equivalent to US Dollars (USD) such as USDT (see more here).
Where Can I Get the IDK?
In addition, IDK Tokens can also be obtained at INDODAX through the following exchange partners: