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The next KForge protocol update is coming soon and includes a major new feature. More details to follow.
KForge 2.0 is coming already!
We've been building something significant behind the scenes, and we're getting closer to showing you what comes next.
A major new feature is already running around the clock on our internal testnet. We're pushing it hard, testing its limits, and exceeded our expectations.
Here's what's next:
KForge 2.0 public testnet - coming in the next few weeks.
$KFORGE launch.
KForge 2.0 mainnet.
We're opening the public testnet first so everyone can experience the new functionality before the token launches.
More to reveal soon.
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Kaspa miner profitability remains below its 30-day average.
Revenue per TH/s per day currently stands at $0.1514, compared with the 30-day average of $0.1671, approximately 9.4% lower.
Mining revenue per unit of hashrate continues to face pressure as KAS trades near recent lows.
Revenue per TH/s per day currently stands at $0.1514, compared with the 30-day average of $0.1671, approximately 9.4% lower.
Mining revenue per unit of hashrate continues to face pressure as KAS trades near recent lows.
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Kaspa's 30-day moving average has crossed below its 90-day moving average, signaling a bearish shift in the medium-term trend.
KAS continues to trade below both averages, although price has shown a modest recovery in recent sessions.
KAS continues to trade below both averages, although price has shown a modest recovery in recent sessions.
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KForge announces a major upgrade to its launchpad, alongside new developments for $KFORGE launch.
"Wen $KFORGE ?" is the question we get asked a lot. Time for a answer.
When KForge went live on Kaspa mainnet on 4 November, it was the result of months of work on covenants that hadn't been used like this before. Fair launches on a bonding curve, automatic graduation to a pool buy back and burn tokens on their own, all enforced on chain.
But the launchpad was only half of what we were building.
Alongside it, a second build has been running quietly: KForge 2.0.
At its centre is a major new feature, and that's where $KFORGE comes in and protocol token is wired into it: activity on the new feature flows back into $KFORGE at the protocol level. The more it's used, the more it matters for $KFORGE.
Where it stands today:
• It's already running on our internal testnet, around the clock, under real conditions.
• We're stress-testing it, tuning it, and trying hard to break it before anyone else gets the chance.
• What we're seeing so far has exceeded what we hoped for when we started.
What happens next:
1. KForge 2.0 public testnet, in the coming weeks. You'll be able to see it, use it and judge it yourselves, before a single $KFORGE exists.
2. Then the $KFORGE launch.
3. KForge 2.0 mainnet
We're doing it in that order on purpose. We'd rather you see exactly how $KFORGE fits in than take our word for it.
We can't reveal more before the public testnet opens. When it does, it'll be obvious why we kept it quiet.
KForge 1.0 brought fair launches to Kaspa L1. 2.0 is the next chapter, and it's a big one.
Stay close.
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Kaspa Dollar: A Decentralized Stablecoin Built on Kaspa L1
Kaspa Dollar (KSD) @KaspaDollar is a proposal to create a decentralized, dollar-denominated stablecoin directly on Kaspa Layer 1, without relying on a traditional issuer holding dollars in a bank.
Developed by Alexander Säfström, the proposal combines KAS-backed collateral vaults, native covenants, miner-based price reporting and zero-knowledge proofs. If successfully implemented, it could provide an important foundation for financial applications within the Kaspa ecosystem.
How would Kaspa Dollar work?
Users would lock KAS in covenant-controlled vaults and issue KSD against their collateral. This would allow holders to access dollar-denominated liquidity without selling their KAS.
The system would require overcollateralization, meaning the value of deposited KAS must exceed the amount of KSD issued.
If KAS falls significantly in value, positions could become undercollateralized and subject to liquidation. This makes collateral management and reliable price information essential to the system's stability.
Why miners play an important role
One of KSD's most interesting features is its proposed price oracle.
Instead of relying entirely on external oracle providers, Kaspa miners would submit KAS/USD price observations through the blocks they produce.
Independent participants would aggregate these observations, using zero-knowledge proofs to verify the calculations.
The proposal also introduces additional economic incentives for miners. Its preliminary fee distribution allocates 85% of certain protocol fees to miners, 10% to proof generators and 5% to keepers.
However, miner participation does not automatically guarantee accurate prices. Coordinated manipulation, unreliable observations and periods of insufficient participation remain risks that the protocol must address.
How would KSD maintain its dollar peg?
The proposal uses several mechanisms to keep KSD close to $1.
Overcollateralization provides an initial protection against price declines. Liquidations allow unhealthy positions to be closed, while a redemption mechanism would let KSD holders exchange tokens for the corresponding dollar value in eligible KAS collateral.
For example, if KSD traded below $1, traders could potentially buy discounted KSD and redeem it against collateral, creating an incentive for the market price to recover.
The whitepaper also proposes safeguards against stale oracle data and extreme market conditions.
These mechanisms could support price stability, but they cannot guarantee it. A rapid KAS price collapse, insufficient liquidation activity or oracle failure could still threaten the system.
What could KSD make possible?
A functioning native stablecoin could expand Kaspa's financial ecosystem considerably.
Trading: KAS/KSD and other dollar-denominated trading pairs could operate directly on Kaspa L1, reducing dependence on external blockchains.
Borrowing: KAS holders could access liquidity against their holdings without immediately selling their assets.
Payments: Merchants and users could transact in a dollar-denominated asset without taking direct exposure to KAS price fluctuations, assuming KSD maintains its peg.
Decentralized finance: Lending markets, liquidity pools, collateralized financial products and treasury management could use KSD as a common unit of account.
These applications would still require sufficient liquidity, wallet integrations and supporting infrastructure.
The limitations
The biggest challenge is KAS volatility. Because KSD would be backed by a fluctuating cryptocurrency rather than dollar reserves, sharp market declines could put significant pressure on collateralized positions.
The oracle also introduces complexity. Zero-knowledge proofs can verify that calculations were performed correctly, but cannot independently guarantee that miners submitted accurate market prices.
Liquidity is another concern. Even a technically sound redemption mechanism may struggle during periods of extreme market stress if buyers, liquidators or available collateral become insufficient.
Finally, the system combines several technically demanding components. Production deployment would require extensive testing, security audits and careful evaluation of its economic assumptions.
Why it matters for Kaspa
Kaspa Dollar demonstrates how native covenants could support financial applications beyond ordinary payments and token transfers.
The proposal is particularly interesting because it attempts to use Kaspa's existing proof-of-work infrastructure for collateral management, price reporting and financial settlement, rather than introducing a separate network to handle those functions.
It remains a working proposal awaiting peer review, and there is considerable distance between a whitepaper and a secure, widely adopted stablecoin.
Nevertheless, a functioning decentralized dollar could become valuable infrastructure for trading, lending and payments on Kaspa.
The potential is significant, but its success will depend on whether the proposed mechanisms can deliver reliable stability and security under real market conditions.
Link to whitepaper: kaspadollar.com/whitepaper
Kaspa Dollar (KSD) @KaspaDollar is a proposal to create a decentralized, dollar-denominated stablecoin directly on Kaspa Layer 1, without relying on a traditional issuer holding dollars in a bank.
Developed by Alexander Säfström, the proposal combines KAS-backed collateral vaults, native covenants, miner-based price reporting and zero-knowledge proofs. If successfully implemented, it could provide an important foundation for financial applications within the Kaspa ecosystem.
How would Kaspa Dollar work?
Users would lock KAS in covenant-controlled vaults and issue KSD against their collateral. This would allow holders to access dollar-denominated liquidity without selling their KAS.
The system would require overcollateralization, meaning the value of deposited KAS must exceed the amount of KSD issued.
If KAS falls significantly in value, positions could become undercollateralized and subject to liquidation. This makes collateral management and reliable price information essential to the system's stability.
Why miners play an important role
One of KSD's most interesting features is its proposed price oracle.
Instead of relying entirely on external oracle providers, Kaspa miners would submit KAS/USD price observations through the blocks they produce.
Independent participants would aggregate these observations, using zero-knowledge proofs to verify the calculations.
The proposal also introduces additional economic incentives for miners. Its preliminary fee distribution allocates 85% of certain protocol fees to miners, 10% to proof generators and 5% to keepers.
However, miner participation does not automatically guarantee accurate prices. Coordinated manipulation, unreliable observations and periods of insufficient participation remain risks that the protocol must address.
How would KSD maintain its dollar peg?
The proposal uses several mechanisms to keep KSD close to $1.
Overcollateralization provides an initial protection against price declines. Liquidations allow unhealthy positions to be closed, while a redemption mechanism would let KSD holders exchange tokens for the corresponding dollar value in eligible KAS collateral.
For example, if KSD traded below $1, traders could potentially buy discounted KSD and redeem it against collateral, creating an incentive for the market price to recover.
The whitepaper also proposes safeguards against stale oracle data and extreme market conditions.
These mechanisms could support price stability, but they cannot guarantee it. A rapid KAS price collapse, insufficient liquidation activity or oracle failure could still threaten the system.
What could KSD make possible?
A functioning native stablecoin could expand Kaspa's financial ecosystem considerably.
Trading: KAS/KSD and other dollar-denominated trading pairs could operate directly on Kaspa L1, reducing dependence on external blockchains.
Borrowing: KAS holders could access liquidity against their holdings without immediately selling their assets.
Payments: Merchants and users could transact in a dollar-denominated asset without taking direct exposure to KAS price fluctuations, assuming KSD maintains its peg.
Decentralized finance: Lending markets, liquidity pools, collateralized financial products and treasury management could use KSD as a common unit of account.
These applications would still require sufficient liquidity, wallet integrations and supporting infrastructure.
The limitations
The biggest challenge is KAS volatility. Because KSD would be backed by a fluctuating cryptocurrency rather than dollar reserves, sharp market declines could put significant pressure on collateralized positions.
The oracle also introduces complexity. Zero-knowledge proofs can verify that calculations were performed correctly, but cannot independently guarantee that miners submitted accurate market prices.
Liquidity is another concern. Even a technically sound redemption mechanism may struggle during periods of extreme market stress if buyers, liquidators or available collateral become insufficient.
Finally, the system combines several technically demanding components. Production deployment would require extensive testing, security audits and careful evaluation of its economic assumptions.
Why it matters for Kaspa
Kaspa Dollar demonstrates how native covenants could support financial applications beyond ordinary payments and token transfers.
The proposal is particularly interesting because it attempts to use Kaspa's existing proof-of-work infrastructure for collateral management, price reporting and financial settlement, rather than introducing a separate network to handle those functions.
It remains a working proposal awaiting peer review, and there is considerable distance between a whitepaper and a secure, widely adopted stablecoin.
Nevertheless, a functioning decentralized dollar could become valuable infrastructure for trading, lending and payments on Kaspa.
The potential is significant, but its success will depend on whether the proposed mechanisms can deliver reliable stability and security under real market conditions.
Link to whitepaper: kaspadollar.com/whitepaper
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Entity X, Kaspa's largest known holder, continues accumulating KAS.
Two new transfers totaling 9.16 million KAS arrived from Gate. io and Kraken, bringing the wallet's balance to 1.556 billion KAS, worth approximately $44.4 million.
The wallet now holds around 5.7% of Kaspa's circulating supply.
Two new transfers totaling 9.16 million KAS arrived from Gate. io and Kraken, bringing the wallet's balance to 1.556 billion KAS, worth approximately $44.4 million.
The wallet now holds around 5.7% of Kaspa's circulating supply.
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Over 10 million tokens have already been bought back and burned through trading activity on KForge.
Over 10 million tokens have already been bought back and burned through trading on KForge in just a few days.
Every token launched on KForge has a built-in buyback-and-burn mechanism, creating continuous deflationary pressure as trading occurs.
It's enforced directly by Kaspa mise, but an on chain rule.
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On KForge - 10% of every fee buys the token back from its pool and burns it, and 1% of every curve buy is burned too.
Why launch your token on KForge?
You get paid. 40% of every 1% trading fee goes straight to your wallet, on the curve and in the pool, for as long as your token trades.
Your holders are protected. One gentle bonding curve for everyone, no presale, no hidden allocations. When it ves into an ownerless pool that nobody can pull.
Your token gets stronger with every trade. 10% of every fee buys your token back and burns it, enforced by covenants on Kaspa L1.
You have tools to grow. Trading competitions, referral programmes and your own creator page.
It’s genuinely on Kaspa. Built on Kaspa L1 covenants: no custody, no admin key, and every trade signed in your own wallet.
Launching takes a minute. Name it, add an image, sign.
kforge.xyz
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Today Kaspa exchange outflows continue to dominate.
MEXC and Bybit recorded the largest net withdrawals, at approximately 5.2M and 2.9M KAS, respectively, while Kraken saw the largest inflow at around 4M KAS.
Overall, more KAS left exchanges than entered, extending the recent outflow trend.
MEXC and Bybit recorded the largest net withdrawals, at approximately 5.2M and 2.9M KAS, respectively, while Kraken saw the largest inflow at around 4M KAS.
Overall, more KAS left exchanges than entered, extending the recent outflow trend.
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Kaspa Daily retweeted
Join the growing KForge community! Discover new token launches, latest trades, share memes, explore projects, and be part of what's being built on Kaspa.
t.me/kforgeofficial
t.me/kforgeofficial
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KForge has seen 24 tokens launched so far, offering creators 40% of trading fees and covenant-enforced buyback and burn.
24 tokens launched on KForge so far.
Creators earn 40% of every trading fee, automatically, for as long as their token trades. Grow your community with built-in tools: trading competitions, referral programmes and your own creator page.
And 10% of every fee buys the token back it, enforced by covenants on Kaspa L1. No one can switch it off.
Launch yours at kforge.xyz
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Kaspa whale flows have turned positive for the first time in months.
Wallets holding 10M+ KAS now show a positive 30-day net balance change of 32.56 million KAS, reversing a prolonged period of net outflows.
Wallets holding 10M+ KAS now show a positive 30-day net balance change of 32.56 million KAS, reversing a prolonged period of net outflows.
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KForge swaps are now integrated into the Kaspire app following its latest update.
KForge trading is now available directly in the @kaspirewallet app.
The latest Kaspire update introduces KForge swaps, allowing users to trade KCC-20 tokens on Kaspa L1 directly from their mobile wallet.
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Kaspa 30-day moving average continues to decline and is approaching the rising 90-day MA, bringing a potential bearish crossover closer.
With KAS trading below both averages, short term - the technical outlook remains weak. A sustained price recovery would be needed to reverse the trend.
With KAS trading below both averages, short term - the technical outlook remains weak. A sustained price recovery would be needed to reverse the trend.
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KForge records over 1 million KAS in trading volume on its first day following yesterday's launch on Kaspa mainnet.
KForge launched yesterday, and we're grateful to everyone who joined us on day one.
Over 1.2 million KAS in trading volume, 882 trades, 21 token launches, and our first graduation.
A big thank you to all the creators who launched their tokens and the traders who participated.
ning. More to come!
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Kaspa supply remains concentrated among large holders and exchanges.
Wallets holding 10M+ KAS account for 22.7% of supply (6.21B KAS), while known exchange wallets hold another 22.1% (6.03B KAS).
Together, these groups control approximately 44.8% of circulating supply.
Wallets holding 10M+ KAS account for 22.7% of supply (6.21B KAS), while known exchange wallets hold another 22.1% (6.03B KAS).
Together, these groups control approximately 44.8% of circulating supply.
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$HACK launches on KForge, directing all creator fees toward a $25,000 Kaspa Gold Sponsorship at the Imperial College London AI Agent Hackathon.
$HACK is live on KForge
Every creator fee from this token goes toward a $25,000 goal: a Kaspa Gold Sponsorship at the Imperial College London AI Agent Hackathon, one of Europe’s largest university-led AI and developer events.
That means a keynote at the opening ceremony, Kaspa acks, and putting Kaspa in front of 1,000+ developers, researchers and founders from Imperial, Oxford, Cambridge, ETH Zurich, MIT and more.
Trade it, and you help fund it.
Not officially affiliated with any of the event organisers. Always do your own research.
kforge.xyz
Token ID: 4e376ff9800032332088be5a6f0a857ff95834e482a8a5cd7a51f93100a71f1e
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