SamoDAO — a decentralized reserve currency platform on Binance Smart Chain. Unlike DAI or USDC, which are pegged to the US dollar, SamoDAO's reserves are managed by SamoDAO's treasury.
Description of the SamoDAO project
SamoDAO — a free-floating currency, backed by a treasury supply of the BUSD stablecoin. samo DAO tokens cannot be mined or burned by anyone other than protocol. The protocol only does this in response to price. Each samo DAO token is backed by at least 1 BUSD. If Samo DAO Token ever trades below 1 BUSD, the protocol buys back and burns Samo DAO Tokens, pushing the price back up to 1 BUSD.
Other features of the coin defi project:
| 1 | The protocol does not set an upper limit on the potential trading price of the samo DAO token. The samo DAO token is backed by BUSD, not pegged to it. |
| 2 | This allows the samo DAO token to achieve a stable floating value without ever falling below the value of its collateralized assets. |
| 3 | The price of the token must be equal to (1 BUSD + Premium), where “premium” reflects the market value. |
The Samo DAO token also replenishes its treasury with bonds. The bonds are sold under a protocol for various assets, and, in return, the buyer receives a samoDAO token at a significantly reduced price. This increases the treasury and allows us to bring incredible profits to our users.
The main benefit for stakers comes from increased supply. The protocol mints new samo DAO tokens from the treasury, most of which go to the stakers. Thus, profits for stakers will come from their auto-adding balances, although price risk remains an important factor. That is, if the increase in the balance of tokens outpaces the potential drop in price, the stakers will profit. The main advantage for bonders - price stability. Bonders contribute upfront capital and are promised a fixed income at a set point in time.
Additional information
There is an introductory document on the site. With its help, each participant can study the features of the project. RoadMap notes future updates.
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The Medium blog publishes news articles. The smart contract does not have an audit.