2021-11-26 15:37:53
Hello CS Supporters
We are happy to announce that, Asgard DAO made an Official Partnership with us. Asgard is a decentralized protocol based on the $Asgard Token – Collateralized and backed by the ASGARD DAO. $ Asgard will be the reserve currency on Binance smart chain. By using Algorithmic control of the market dynamics ASGARD stable currency aims to curb inflation and give users the same purchasing power. We bring protocol owned liquidity to a DAO near you .
What is Asgard Dao works ?
Each Asgard token is backed by 1 USD (i.e. USDT, DAI, BUSD, USDC) in the treasury.
We will initially start with USDT as our treasury asset. After launch, we will be adding other stablecoins to balance our treasury. This will include BUSD, USDC etc. Tokens cannot be minted or burned by anyone except the protocol. The protocol only mints or burns in response to price.
Asgard does not rebase. Instead, a new supply is created via direct sales into the market and burned via direct purchases from the market. This way, Asgard remains backed by real assets in the treasury, i.e., USD.
These basically translates to:
When Asgard trades below ↓ 1 USDT, the protocol buys it back and burns Asgard.
When Asgard trades above ↑ 1 USDT, the protocol mints and sells new Asgard.
This is because the treasury must hold 1 USDT and only 1 USDT for each OBANK every time it is bought or sold so it makes a profit. That means the protocol either gets more than 1 USDT for the sale side or spends less than 1 USDT on the purchase side. The fact that the protocol holds USDT for each token allows us to say with certainty that Asgard will not trade below its intrinsic value in the long term.
Investments can then be made with defined risk because 1 USDT is the guaranteed long-term price floor. And because of this, the protocol can (and will) buy indefinitely below 1 USDT until no sellers remain, even if the supply is reduced to 0. In this example this event would reward those who did not sell immensely because they would end up with a chunk of every token that was burned!
Holding stablecoins to back tokens also creates a yield generation opportunity.
Locking away stablecoins in a vault would then be a waste. Given that the protocol never needs more than a few percent of reserves, even on the largest of down days, means you are free to utilize the rest to plug into yield aggregators and add those proceeds onto profits from buying and selling Asgard.
Asgard’s initial profit distribution
90% to stakers 10% to the decentralized autonomous organization or DAO (these allocations will be changed, if necessary, as decided by the DAO). All rewards are paid in Asgard backed by stablecoins. This system maintains a stable intrinsic value and reduces the incentive role of appreciation in favor of accumulation. As with real currency, you try to accumulate more dollars and you do not have to wish upon a star that your dollars become worth more. Although both can happen.
OFFICIAL INFORMATIONS Website :
Whitepaper :
COMMUNITY Twitter :
Telegram :
Discord :
Medium :
For get all updated of Asgard DAO Please Join Telegram Group & Channel. For support & help DM https://t.me/thorcrypt
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