Description: MvDOLLAR is an algorithmic stable coin designed to maintain a 1:1 peg to USDC. The protocol incentivizes the peg through high daily yields normally only found with volatile risk assets but with MvDOLLAR you get this by staking a USD pegged coin instead! Through utilizing MvDOLLAR in our NFT GameFi, holders will be able to earn rewards/prizes, breed the next generation, and much more!.
Inspired by previous algorithmic stable protocols such as Basis Cash and Tomb Finance. Much like Tomb our protocol uses three tokens (MvDOLLAR, MvSHARE, MvBOND) to incentivize a stable 1:1 peg to USDC. The protocol's underlying mechanism dynamically adjusts MvDOLLAR's supply, pushing its price up or down relative to the price USDC. This should be $1 however there may be times where USDC loses its peg and if our protocol is functioning as intended will follow USDC to keep pegged 1:1 to it.
We are building much more than a regular Tomb fork. We like to call ourselves a “Spork” building on top of the Basis/Tomb code base to create a new unique ecosystem. MiniVerse Finance will be bridging the gap between the NFT space and Defi space on Fantom. Through our NFT GameFi we plan to bring utility to MvDOLLAR (algorithmic stable coin pegged 1:1 with USDC).
MiniVerse Finance will be one of the first forks to build use case for the algorithmic stable coin through our NFT GameFi. The GameFi's primary goal is to burn MvDOLLAR which helps keep peg. We also are going to conduct a Land NFT sale that will create protocol owned liquidity so we can do things like strategic buy backs and burns to help keep peg and stabilize the protocol.
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