The kolion is a cryptocurrency coin created by Mikhail Shlyapnikov to support the farmers of Kolionovo, a small town located 125 km south-east of Moscow, to trade real goods and services.
[1] The coin gained notoriety after Mikhail Shlyapnikov was arrested, and afterwards, kolion was declared an illegal tender in Russia.
[3] They were pegged at a bag of potatoes or a goose, which allowed him sell his crops for half their price, trade with suppliers, and pay his workers, inside Kolionovo.
In 2015, a criminal case was built against him for issuing his own paper currency and Kolion was banned after the court concluded that his actions demeaned the government’s financial system.
In April 2017, he released the kolion token [KLN] on the Waves platform and received 401 bitcoins, equivalent to 31.6 million rubles, in one month, from 103 investors.