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IDK - Stablecoins

  1. INDODAX
  2. Digital Aset
  3. Sell and Buy

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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?

IDK Tokens can be obtained through INDODAX and Tokenomy market exchange.

In addition, IDK Tokens can also be obtained at INDODAX through the following exchange partners:

Partner Exchange List

*Partner exchange list will be updated periodically

For more information please visit their website or contact their customer services.

WARNING:

Please avoid making a transaction on the Indodax.com chat room because there might be a con that uses the exchange’s name. Please contact the exchanges directly at the contact provided on their sites.
Indodax Nasional Indonesia is not affiliated with the listed exchanges. PT. Indodax Nasional Indonesia does not take responsibility for all the transactions made by members using the exchanges.

 

How to Buy and Sell IDK?

How to Buy IDK

Here are the steps to buy IDK on Indodax.com (website):

  1. Login to your Indodax account via the website.
  2. Select the “Marketplace” menu, then select “IDK/IDR”.
  3. Create a buy order using Rupiah according to the Rupiah amount you want and input the IDK price.
  4. The IDK buy or sell transactions using the Maker method are free but will be charged a processing fee of 0.21% for transactions using the Taker method.
  5. The IDK balance will be credited to your account once the transaction has been executed.

Here are the steps to buy IDK via the INDODAX application:

  1. Login to your Indodax account via the INDODAX application.
  2. Select the “Market” menu, go to “IDR”, and select the “IDK/IDR” market.
  3. Create a buy order using Rupiah according to the Rupiah amount you want and input the IDK price.
  4. The IDK buy or sell transactions using the Maker method are free but will be charged a processing fee of 0.21% for transactions using the Taker method.
  5. The IDK balance will be credited to your account once the transaction has been executed.
 
How to Sell IDK

Here are the steps to sell IDK on Indodax.com (website):

  1. If the IDK deposit has been done, please go to the “Marketplace” menu, then select “IDK/IDR”. 
  2. After that, you can make IDK sell order to Rupiah according to the IDK amount you want and input the IDK price.
  3. The IDK buy or sell transactions using the Maker method are free but will be charged a processing fee of 0.21% for transactions using the Taker method.
  4. The IDR balance will be credited to your account once the transaction has been executed.

Here are the steps to sell IDK via the INDODAX application:

  1. If the IDK deposit has been done, please go to the “Market” menu, then select “IDR”, then choose the “IDK/IDR” market.
  2. After that, you can make IDK sell order to Rupiah according to the IDK amount you want and input the IDK price.
  3. The IDK buy or sell transactions using the Maker method are free but will be charged a processing fee of 0.21% for transactions using the Taker method.
  4. The IDR balance will be credited to your account once the transaction has been executed.

How to Redeem and Deposit IDK via Partner Exchange?

How to Redeem IDK via Partner Exchange

Here are the steps to redeem IDK on Indodax.com (website):

  1. Please contact the partner exchange to get the information related to redeeming IDK terms and conditions.
  2. If the IDK buy order has been executed, select the “Wallet” menu, then select “IDK”.
  3. Select the “Withdraw” or “Send IDK” menu, then select the network you want to use. For free withdrawal fee, please choose the “XLM” network.
  4. Enter the amount of IDK that you will send in the column provided.
  5. Select “IDK Address”, then “New Address” if this is your first time making a withdrawal.
  6. Select the “Username” on the input method, then fill in the username of the partner exchange.
    Or choose the “Address” input method, if the partner exchange provides the destination address and memo (for XLM Network).
  7. Then, input your SMS or Google Authenticator PIN code, then click “Send” to process the withdrawal.
  8. Please confirm the withdrawal via the email we have sent to your INDODAX account email.

Here are the steps to redeem IDK via the INDODAX application:

  1. Please contact the partner exchange to get the information related to redeeming IDK terms and conditions.
  2. If the buy order has been executed, select the “Funds” menu, then select “IDK”.
  3. Select the “Withdrawal” menu, then select the network you want to use. For free withdrawal fee, please choose the “XLM” network.
  4. Enter the amount of IDK that you will send in the column provided.
  5. Select “IDK Address”, then “New Address” if this is your first time making a withdrawal.
  6. Select the “Username” input method, then fill in the username of the partner exchange.
    Or choose the “Address” input method, if the partner exchange provides the destination address and memo (for XLM Network).
  7. Then, enter your SMS or Google Authenticator PIN code, then click “Send” to process the withdrawal.
  8. Please confirm the withdrawal via the email we have sent to your INDODAX account email.

How to Deposit IDK via Partner Exchange

Here are the steps to deposit IDK via the INDODAX application:

  1. Please contact the partner exchange to get the information related to the deposit IDK terms and conditions.
  2. Login to your Indodax account via the website.
  3. Select the “Wallet” menu, then select “IDK”.
  4. To receive IDK, please inform your INDODAX account username or wallet address and memo (for XLM Network) to the sender (partner exchange).
  5. Partner exchange will send the IDK and will be credited automatically to your Indodax account wallet balance. 

Here are the steps to deposit IDK via the INDODAX application:

  1. Please contact the partner exchange to get the information related to the deposit IDK terms and conditions.
  2. Login to your Indodax account via the INDODAX application.
  3. Select the “Funds” menu, then choose “IDK”.
  4. To receive IDK, please inform your INDODAX account username or wallet address and memo (for XLM Network) to the sender (partner exchange).
  5. Partner exchange will send the IDK and will be credited automatically to your Indodax account wallet balance. 

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