Description: Stake your CPM-USDC LP in 'Earn' to earn CPSHARE rewards. Then stake your earned CPSHARE in 'DIVIDEND' to earn more CPM. Common-Prosperity Finance is an algorithmic stable coin protocol pegged 1:1 to USDC on Fantom Opera. Our protocol is inspired by tomb.finance and uses three tokens (CPM, CPSHARE, CPBOND) to incentivize a stable 1:1 peg to USDC. The protocol's underlying mechanism dynamically adjusts CPM's supply, pushing its price up or down relative to the price of 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.
Why peg USDC?
The reason that we choose to peg $USDC is because in such a bear market, nothing is securer than stable coin. BTC dropped over 52% and $FTM dropped over 62% from ATHs. We want to support those who want more stable returns. With our token, CPM(Common-Prosperity Money), which is pegged to USDC, participants can avoid unnecessary risk in the bear market, and enjoy their juicy farms.
Future Utility
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the CP Finance team will maintain a focus on innovation around enhanced functionality and use cases. The CPM token WILL support a Multi-Dapp ecosystem on the FTM Network. More info on use cases will be provided in future articles and updates!
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