Description: Solving liquidity ownership. Vanilla OHM with a twist. Available on #Fantom (Σ, Σ). SecureDAO is a fork of Wonderland on the Fantom Opera Network. $SCR is a decentralized reserve currency that remains unbound by a peg. SecureDAO is the decentralized reserve currency protocol available on the Fantom Network based on the SCR token. Each SCR token is backed by a basket of assets (e.g., MIM, SCR-FTM LP Tokens etc) in the SecureDAO treasury, giving it an intrinsic value that it cannot fall below. SecureDAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
Why do we need SecureDAO in the first place?
Dollar-pegged stablecoins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether. Users are comfortable with transacting using stablecoins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is a fallacy. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stablecoins. SecureDAO aims to solve this by creating a non-pegged stablecoin called SCR. By focusing on supply growth rather than price appreciation, SecureDAO hopes that SCR can function as a currency that is able to hold its purchasing power regardless of market volatility.
What is the point of SecureDAO?
Our goal is to build a policy-controlled currency system, native to the FTM network, in which the behavior of the SCR token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that SCR can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation. We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world!
How can I benefit from SecureDAO?
The main benefit for stakers comes from supply growth. The protocol mints new SCR tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in SCR tokens and thus the minter's profit would depend on SCR price when the minted SCR matures. Taking this into consideration, minters benefit from a rising or static price for the SCR token!
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