Champion Finance - algorithmic tokens with a relocation mechanism in the Avalanche network. The underlying mechanisms of the protocol dynamically adjust the supply of $VIC, keeping its price stable relative to the price of its pegged token.
Operation of the Champion Finance Protocol
Champion Finance - the first multi-pegged elastic algorithmic tokens on the Avalanche network.
This protocol consists of the following tokens:
| 1. | Victory ($VIC). |
| 2. | Champion ($CHAM). |
$CHAM holders have voting (governing) power over proposals to improve the protocol and future use cases in the Champion Finance ecosystem.
WETH.e Single Staking — a contract, designed to create a new source of income and offer another option for ETH enthusiasts while supporting $EVIC. The contract will allow deposits in ETH and bring investors exponentially higher returns than ETH rates on the mainnet.
Value is generated by using the $CHAM that is processed and other sources of passive income, generated by the Treasury, to pay out ETH to investors.
DAO functions
The Dao Champion Finance fund — the second line of defense on top of the Rebase mechanism. The DAO fund is controlled by the developers and will later move to a governance system to vote on the use of funds in certain areas of the project and beyond, including investments, marketing, etc.
When TWAP is below 1, the DAO initiates a buyback. This will be done at a time to be determined by the core team and will not be published until the protocol is back in the extension to prevent a lead.
When TWAP is extremely high, the DAO will sell some VIC to help to get back to the peg and ready its reserves to buy back below 1.
The Fund may or may not invest in safe projects to generate income and grow at the discretion of the team.