Stablecoin Studio

Overview

The NHX platform leverages Hashgraph's Stablecoin Studio to power its KESY (Kenyan Shilling Yield) stablecoin and tokenized securities ecosystem on the Hedera network. This document explains how we integrate Stablecoin Studio's factory contracts, token management system, and SDK to create a compliant, scalable digital asset platform for the Nairobi Securities Exchange (NSE).

Key Integration Points

• Stablecoin Factory: Used to deploy KESY stablecoin with KYC, minting, and burning capabilities

• HederaTokenManager: Smart contract managing token lifecycle operations

• SDK: Node.js SDK for programmatic token operations

• Role Management: RBAC system for admin, cash-in, burn, and rescue operations

• Proof of Reserve: Integration for reserve tracking and validation

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What is Hedera Stablecoin Studio?

Hedera Stablecoin Studio is an open-source toolkit developed by Hashgraph that provides:

Core Components

1. Smart Contracts (Solidity)

   • Factory contract for stablecoin deployment

   • Modular facet-based architecture (Diamond Pattern)

   • HTS (Hedera Token Service) integration

   • Role-based access control

2. SDK (TypeScript/Node.js)

   • Programmatic token operations

   • Wallet integration support

   • Multi-signature transaction handling

   • Network management utilities

3. CLI Tools

   • Command-line interface for token management

   • Testing and deployment scripts

   • Configuration management

4. Web Interface

   • React-based DApp for token administration

   • User-friendly management dashboard

   • Multi-wallet support (HashPack, MetaMask, Blade)

Why Stablecoin Studio?

• Production-Ready: Battle-tested contracts with 100% test coverage

• Hedera-Native: Built specifically for Hedera Token Service (HTS)

• Compliance-First: KYC, pause, freeze, and role management built-in

• Extensible: Modular design allows custom feature addition

• Open Source: Apache 2.0 licensed, community-supported

Stablecoin Studio GitHub: https://github.com/hashgraph/stablecoin-studio

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NHX's Stablecoin Architecture

System Overview

┌─────────────────────────────────────────────────────────────────────┐
│                         NHX Platform Ecosystem                      │
└─────────────────────────────────────────────────────────────────────┘
                                  │
                                  │
                        ┌──────────▼──────────┐
                        │   Stablecoin Layer  │
                        │      (KESY)         │
                        └──────────┬──────────┘
                                    │
         ┌──────────▼─────────────────────────────────────┐
         │        Hedera Stablecoin Studio                 │
         │  ┌────────────────────────────────────────────┐ │
         │  │  StableCoinFactory (Deployed)              │ │
         │  │  Address: 0x...factory                     │ │
         │  └────────────────────────────────────────────┘ │
         │  ┌────────────────────────────────────────────┐ │
         │  │  HederaTokenManager (Logic Contract)       │ │
         │  │  Business Logic Resolver                   │ │
         │  └────────────────────────────────────────────┘ │
         └─────────────────────────────────────────────────┘
                                  │
         ┌────────────────────────┴────────────────────────┐
         │           Hedera Token Service (HTS)            │
         │  • Native token creation & management           │
         │  • Atomic transfers                             │
         │  • KYC & Freeze controls                        │
         └─────────────────────────────────────────────────┘

Layer Responsibilities

Layer	Purpose	Technology
Frontend	User interface for trading & wallet management	Next.js 15, Thirdweb SDK
nhx-kesy Backend	KYC, minting workflow, admin operations	Spring Boot, PostgreSQL

    |

| Stablecoin Studio | Token creation, lifecycle management | Solidity, HTS | | Hedera Network | Blockchain layer, consensus, finality | Hedera Testnet/Mainnet |

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KESY Token: Kenyan Shilling Stablecoin

Token Specifications

Token Name: Kenyan Shilling Stablecoin Yield
Symbol: KESY
Hedera ID: 0.0.6883537 (Testnet)
Decimals: 6
Supply Type: Infinite (with admin controls)
Backing: 1 KESY = 1 KES (Kenyan Shilling)
Issuer: NHX Finance
Network: Hedera Testnet (Chain ID: 296)

Key Features

1. KYC-Gated: Only verified users can receive tokens

2. Minting Workflow: Multi-step approval process via nhx-kesy backend

3. Fiat On-Ramp: M-Pesa integration for KES → KESY conversion

4. Yield-Bearing: Target APY through treasury bill investments

5. Regulatory Compliance: Aligned with Central Bank of Kenya regulations

Token Roles (RBAC)

Role	Description	Assigned To
Admin	Super admin, manages all roles	NHX Operations Team
Cash-In (Unlimited)	Can mint unlimited tokens	Treasury Contract
Burn	Can burn tokens from treasury	Redemption Service
KYC	Can grant/revoke KYC status	Compliance Team
Pause	Emergency stop mechanism	Risk Management
Rescue	Recover tokens sent to contract	Support Team

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