DNA Dollar - the first algorithmic token, pegged to $USDC on the Cronos network. The $DNA Algorithmic Token serves as the backbone of a rapidly growing liquidity ecosystem.
The mechanism, underlying the protocol, dynamically adjusts the supply of $DNA, raising or lowering its price, relative to the price of $USDC.
DNA Dollar — a multi-token protocol that consists of the following three tokens:
- $DNA.
- $DSHARE.
- $DBOND.
$DNA tokens are intended to be used as a medium of exchange. The stability mechanism, built into the protocol, deterministically expands and narrows the $DNA supply to support $DNA pegging to 1 $USDC token.
Also, keep in mind that $DNA is actively bound, it doesn't mean it evaluates to 1, since it has no collateral. $DNA should not be confused with a stable fiat currency that has a value of 1. The platform UI allows you to buy $DBOND only when $DNA drops below the 1$USDC peg. Early redemption of $DBOND bonds for $DNA (when TWAP $DNA < 1) will result in a net loss of 10%. For example, if TWAP $DNA < 1, $DBOND to $DNA bonds will be exchanged at a ratio of 1:0.9.
The DAO fund — the second line of defense on top of the bond mechanism. The DAO Fund is controlled by the developers, who will use the funds in certain areas of the project and beyond, including investments, marketing, etc.