The RED Pill Dao is inspired by the hugely successful Olympus DAO and “The Matrix” movies. The TRP currency, $TRP, will be the first of its kind FOHMO. The goal of $TRP - to provide people with a secure, stable alternative reserve cryptocurrency as an alternative to the ever-depreciating fiat currency.
About The RED Pill Dao
The Red Pill DAO seeks to solve the (over-printing of currency) problems by creating a free-floating reserve currency, $TRP, backed by a basket of assets. By focusing on supply growth rather than price growth, The RedPill DAO hopes that TRP can function as a currency that can maintain its purchasing power on average over time. Note that each TRP token is backed by a basket of assets (e.g. BNB, BUSD, TRP-BUSD LP) in The Red Pill DAO's treasury, giving it an intrinsic value below which it cannot fall.
Other features:
| 1 | $TRP cannot be mined or burned by anyone other than protocol. |
| 2 | The protocol only does this in response to price. Each TRP is backed by at least 1 BUSD. |
| 3 | If TRP ever trades below 1 BUSD, the protocol will buy back and burn TRP, pushing the price back to 1 BUSD. The protocol does not set an upper limit on the potential trading price of TRP. |
$TRP is backed by BUSD, not pegged to it. This allows the TRP token to achieve a stable floating value, never falling below the value of its collateralized assets. The price of the token must be equal to (1 BUSD + Premium), where “premium” reflects the market value.
Defi app tokenomics
$TRP does not have a fixed offer. New tokens that are minted by the protocol are backed by 1 BUSD, and the supply of tokens is controlled by the protocol by burning them. A 10% transaction fee is charged when purchasing bonds. A 10% commission will be used for marketing, rewards, administration and development. We understand that marketing plays a very big role, especially in the early days to withdraw a token.
At a high level, the RedPill DAO consists of a protocol-driven treasury, protocol-owned liquidity, a bond (pegging) mechanism and high staking rewards, designed to control supply expansion.