Description: BEGOIKODAO is the first decentralised reserve currency protocol available on the Fanton Opera Chain based on the BEGO token. We seek to create value for our users by developing a number of use-cases within the BEGODAO Ecosystem. Each BEGO token is backed by a basket of assets (e.g., DAI, BEGO-DAI LP Token, WFTM etc) in the BEGOIKOAO treasury, giving it an intrinsic value that it cannot fall below. Part of the revenues from the treasury will be used to buy and burn BEGO tokens from the market, finalise our NFT marketplace development, acquire premium NTF assets and provide Stable assets on lending to holders of our native NFTs.
Why BEGODAOIKO?
At BegoDao, our aim is to build a policy-controlled currency system, in which the behaviour of the BEGO token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimise for stability and consistency in a way that BEGO can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimise the system for growth and wealth creation. It is our mission to create something which can provide stable growth and bring out the very best that the Fantom Network has to offer.
How do I participate in BEGOIKODAO
There are two main strategies for market participants: staking and bonding. Stakers stake their BEGO tokens in return for more BEGO tokens, while Minters provide DAI, WFTM or LP tokens in exchange for discounted BEGO tokens after a fixed vesting period.
How can I benefit from BEGOIKODAO
The main benefit for stakers comes from supply growth. The protocol mints new BEGO 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 bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in BEGO tokens and thus the bonder's profit would depend on BEGO price when the bond (minted BEGO) matures. Bonders benefit from a rising or static price for the TEM token!
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