Description: Apex Finance is one of the early algorithmic token pegged to $FTM on the Fantom Opera network. In essence it's a fork of Tomb Finance (credit where credit is due). An Algorithmic Stable Coin (ASC) is a non-collateralized stablecoin tailored for improving price stability. The beauty of algorithmic stable coins is that they are much more capital efficient than their collateralized cousins. Apex Finance will with its experienced teamwork towards expanding this idea of capital-efficient algorithmic stable coin and build on previous iterations to expand the basis of the ecosystem. Apex's full focus is to build a true cross-chain algorithmic stable coin protocol that is stabilized with true use-cases all around the DeFi Ecosystem. Apex Finance is here to stay, and we have many idea's in the pipeline revolving around maintaining the peg, marketing, an on ramp fiat gateways, NFT's and so on.
Apex Token
$APEX token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain Apex's peg to 1 Fantom (FTM) token in the long run.
ASHARES Token
APEX Shares (ASHARE) are one of the ways to measure the value of the APEX Protocol and shareholder trust in its ability to maintain APEX close to peg. During epoch expansions the protocol mints APEX and distributes it proportionally to all ASHARE holders who have staked their tokens in the Board Room. ASHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Tomb finance ecosystem.
ABOND (Bonds)
Bonds are unique tokens that can be utilized to help stabilize APEX price around peg (1 FTM) by reducing circulating supply of APEX if the TWAP (time-weighted-average-price) goes below peg (1 FTM). ABOND can be purchased only on contraction periods, when TWAP of TOMB is below 1.
DAO
The DAO fund is controlled by the developers of Apex Finance that conducts buybacks and acts as a reserve to help maintain the peg. The DAO fund is the second line of defense on top of the Bond Mechanism. The DAO fund is controlled by the Developers and will later move to a governance system to vote on using funds in certain areas of the project and outside including investment, marketing etc.
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