God DAO (⚡, ⚡)
What is God DAO#
God DAO is the first true DEFI 2.0 decentralized reserve currency protocol available on the Solana blockchain based on the $God token. Each $God token is backed by a basket of assets (e.g., MIX, USDC, $God-USDC LP Tokens etc etc) in the God DAO treasury, giving it an intrinsic value that it cannot fall below. God DAO also introduces economic and game-theoretic dynamics into the market through staking and bonding.
What is the point of God DAO?#
Our goal is to build a policy-controlled currency system, native on the Solana network, in which the behavior of the $God token! In the long term, we believe this system can be used to optimize for stability and consistency so that $God can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation. We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world!
How do I participate in God DAO?#
There are two main strategies for market participants: staking and bonding. Stakers stake their $God tokens in return for more $God tokens, while bonders provide LP tokens or MIX tokens in exchange for discounted $God tokens after a fixed vesting period.
How can I benefit from God DAO?#
The main benefit for stakers comes from supply growth. The protocol mints new $God 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 $God; that return is given in $God tokens and thus the bonder's profit would depend on $God price when the minted $God matures. Taking this into consideration, bonders benefit from a rising or static price for the $God token!
Who created God DAO?#
God DAO is a fork of Olympus on the Solana Network. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.