Korea’s First Cryptocurrency Supported Bank — Ginkgo Bank Has Launched An Annuity Financial Product Utilizing Polkadot Ecosystem DAO Project Idavoll Network (IDV)
On March 7th of 2021, the price of Polkadot Ecosystem project Idavoll Network Token (IDV) rose to 0.022 US dollars, an increase of more than 40% from the previous day. Idavoll Network (IDV) demonstrated its global competitiveness and signed an MOU with GinkgoBank.ex, Korea’s first cryptocurrency trading platform. This indicates Idavoll Network has officially entered the Korean market. GinkgoBank.ex is Korea’s first official corporate group established for the purpose of cryptocurrency exchange, trading, P2P services, etc., and pursuing legal procedures for financial activities. The storage system of Ginkgobank.ex applies the principle of zero-knowledge proof of blockchain technology to launch its triple security system to ensure security and restricts money laundering and illegal use through KYC certification procedures. In addition, a variety of crypto asset products have been launched through the Ginkgo Bank APP as the bank’s financial products to provide investors with a reasonable financial management environment.
On March 8th of 2021, Idavoll Network Token (IDV) will launch GinkgoBank’s “SUMONEY_IDV” (210308_IDV №1) Annuity Financial Product. SUMONEY_IDV (210308_IDV №1) Annuity Merchant Products are expected to initiate sale on March 10th of 2021. The Idavoll Network (IDV) Financial Products can be purchased after KYC certification using the Ginkgo banking application.
Cryptocurrency Polkadot is currently leading the trend through 12 Decentralized Finance (DeFi) projects. The total market value of Polkadot’s currency in circulation is approximately $31 billion in USDT, ranking it among the TOP6 cryptocurrencies in the world. The Idavoll Network (IDV), as the original DAO project of Polkadot, has signed a business agreement with Ginkgobank.ex, the earliest cryptocurrency bank in Korea. The strong partnership among Idavoll Network and Ginkgo will have a profound impact on the development of the cryptocurrency industry.
Idavoll Network is a cross-chain DAO protocol based on the Substrate development framework. Idavoll is supported by the Web3 Foundation Grant Program in November 2020. Any organization can create and manage a cross-chain DAO platform based on Idavoll Network. Idavoll Network strives to provide a general DAO service management platform to quickly help users create DAO organizations and manage the functions of decentralized organizations on the blockchain.
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