Welcome to 60-second Crypto Gem by KuCoin. Today, we will be talking about Standard Protocol and its native token, STND. Standard Protocol is the first Collateralized Rebasable Stablecoin protocol for synthetic assets operating across the Polkadot ecosystem. It is also the first and only project from Korea to be awarded a Polkadot Web3 Foundation grant. With its own curated Automated Market Making (AMM), Standard Protocol will provide every user an equal chance to buy discounted liquidated assets, while building a stronger and more diverse community of borrowers and investors. Standard is one of the three native tokens in its ecosystem, acting as the governance token that can be used to pay fees, stake for rewards, and participate in making key decisions such as changing the collateralization ratio. In the future, Standard Protocol will allow for more utilities than existing stablecoins by using Substrate. This has been the 60-second Crypto Gem by KuCoin, see you next time.