Minotaur Money — one of the first reserve currency protocols to use a transaction tax as an incentive for holding. The tax is redistributed to the stakers at the time of the rebase.
About Minotaur Money project
Minotaur Money — a reserve currency and decentralized venture capital on the Cronos network that uses transaction tax redistribution between stakers as an incentive for retention. Its reserve currency asset, MINO, is backed by a mixed basket of assets (e.g. CRO, WBTC, WETH, DAI) in the treasury and treasury assets help to generate profit for the DAO. The protocol uses factionalism to allow treasury funds to be used for decentralized venture capital, cross-chain liquidity farming or rewarding votes for liquidity rewards.
Other features:
| 1 | Additional staking of wsMINO tokens provides additional rewards for MINO stakers. |
| 2 | The Minotaur.Money protocol uses the dynamics of staking and mining to create a crypto-denominated reserve currency in the Cronos ecosystem. |
Transaction tax is charged only when transferring MINO to LP pairs. This is intended to apply only to MINO sale transactions. However, without the ancillary contract, this would also tax the formation of the LP.
Transaction tax is exempt from productive activities such as staking, de-staking and buying MINO. The team has also implemented the Fractionality code which allows more flexibility than other OHM forks in terms of treasury deployment.
More about defi app
The Minotaur treasury will be different from most other reserve currencies as it is based on the Cronos ecosystem. Therefore, his backup LP pairs will include MINO-CRO. The team will also offer other standard single-token bonds such as BTC, ETH and USD equivalents. A percentage of the platform's income and DAO MINO tokens will help to market and develop the Minotaur.Money ecosystem through partnerships and other opportunities.
MinotaurMoney implements the Fractionality code for more flexible accounting of protocol reserves. The TIME/OHM base code requires the number of tokens in the treasury to equal or exceed the number of existing native tokens, but does not take into account the values of individual reserve tokens. MinotaurMoney has a modifiable Fractionality variable that allows for fractional reserves: the Treasury may be required to maintain a supply of tokens as low as 1% of the supply of MINO tokens in existence.
Reviews (0)