Sahara DAO — a synthetic protocol, designed to provide new and innovative markets for the Cronos network synthesizer. The goal of the protocol - to provide and support synthetic markets for the most popular Cronos tokens, as well as assets that are not traded on the network yet.
The Sahara DAO introduces a semi-collateralized design where protocol synthesizers are backed by the underlying asset as well as Sahara's native token.
With Sahara, DAO presents a decentralized solution by adopting a partially provisioned design. In it, synthetic tokens are partly backed by the MMF token and MUSD, and partly by the native token. MMFX is a fractional algorithm synthesizer, pegged to the value of 1 MMF token on the Cronos network.
The purpose of the MMFX token — to provide users and traders of the Cronos Network who have been using the MMF ecosystem for a long time with additional utility for their spot assets and a new opportunity to earn additional rewards. Sahara DAO is committed to creating only secure and trusted code for the community that is reviewed before release.
By using the Sahara vault to accumulate your rewards, you save thousands of transactions with associated gas costs and precious personal time. Instead of manually collecting and selling rewards, buying more tokens and constantly reinvesting them, the vault does it all automatically at high frequency.