Description: The $GOLD algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Fantom network.
The protocol's underlying mechanism dynamically adjusts $GOLD's supply, pushing its price up or down relative to the price of $FTM.
The $GOLDtoken serves as an algorithmic stablecoin pegged to the price of 1 $FTM The protocol's underlying mechanism dynamically adjusts $GOLD's supply, pushing its price up or down relative to the price of FTM. Inspired by tomb.finance, who was originally inspired by the idea behind Basis as well as its predecessors, Pirate Finance is a multi-token protocol that consists of the following three tokens: Gold Token ($GOLD), Gem Shares ($GEM), Bomb Bonds ($BOMB).
What differentiates $GOLD from other algorithmic tokens?
Unlike previous algorithmic tokens, $GOLD is not pegged to a stable coin— it is instead pegged to $FTM. Why is this? Pirate Finance believes in the potential of Fantom, and has chosen to align its mission to both provide value to and derive value from $FTM's future growth. 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 Pirate Finance team will maintain a focus on innovation around enhanced functionality and use cases.
#paymentgateway #payment #banking #definews #defiprotocol #defiprojects #decentralizedfinance #defi20 #ftm #fantom #blockchain #shibaswap #highscalable #instantransfer #simplysecure #evmcompatible #metaverse #nfts #wojak #pepe #multichain #parachain #crosschain #borrow #lending #loan #lend #earn #apy #interestrate #borrowers #cefi #dex #traditionalfinance #bank #staking #dapp #fintech #crypto #ethereum #vote #stake #farm #farming #yieldfarming #stablecoin #aggregationprotocol #cryptowallet #token #tokenomics #gaming #gasfee #swift #poolmining #nftwallet #oracle #stablecoins #api #idoplatform #borrowing #yieldaggregator #launchpad #eth #eth2 #altcoins #coins #etf #bitcoin #cryptocurrencies #dogecoins #xrp #eosio #xlm #cardano #dot #aave #btc #BNB #celsiusnetwork #Tron #bch #LTC #ripple #stellarlumens #polkadot #holo #hederahashgraph #algorand #ravencoin #iota #usdt #waves #ethereumclassic #chainlink #zcash #dash #monero #bitcoinsv #NEM #XEM #nft #nfts #nonfungibletoken #digitalassets #etf #digitalcoin #ewallet #digitalgold #internetmoney #defi #decentralizedfinance #peertopeer #digitalcurrency #decentralizedmoney #ledger #futuremoney #centralbank #digitalbank #elonmusk #cryptowallets #bitcoinwallet #cryptocurrencymining #cryptorealestate #cryptocurrencyexchange #futurebanking #digitalmoney #distributedledger #centralbankdigitalcurrency #ether #digitalwallet #bitcoinexchange #paymentserviceprovider #walletprovider #gold #silver #fiatmoney #p2p #cashlesssociety #workfromhome #blockchainlawregulation #ebanking #cryptocard #bitcoinkiosks #bitcoinatm #cryptocurrencyatm #bitcoinwallets #cryptocurrencyexchanges #forex #banks #p2p #centralizedfinance #cefi #hedgefunds #investors #ico #sto #initialcoinoffering #securitytokenoffering #paymeincrypto
