Savanna Finance - an algorithmic stablecoin platform. The main SVN token is currently pegged to the value of 1 MMF. An algorithmic stablecoin (ASC) is an unsecured stablecoin, designed to increase price stability.
Description of the Savanna Finance platform
The beauty of algorithmic stablecoins is that they are much more capital efficient than their backed counterparts. With experience in the defi space and working to expand on the idea of a capital-efficient algorithmic stablecoin, the team can build on previous iterations to expand the foundation of the MMF ecosystem.
Savanna Finance's main focus is on building a true cross-chain algorithmic stablecoin protocol that stabilizes with real-life use cases across the entire DeFi ecosystem. The SVN algorithmic token serves as the backbone of a rapidly growing ecosystem, focused on providing liquidity and new use cases in the MMF ecosystem. The mechanism, underlying the protocol, dynamically adjusts the SVN supply by raising or lowering its price relative to the MMF price.
| Savanna Token (SVN) | algorithmic token, linked to MMF. |
| Meerkat Share (MSHARE) | holders can claim SVN inflation as the network expands. |
| Meerkat Bond (MBOND) | they can be purchased when the network is in a downsizing state. They can be exchanged for SVN when the network goes into a deflationary phase. |
SVN Finance — a protocol that aims to support the purpose with the underlying SVN token. This token acts as a mirror asset to the MMF token, where 1 SVN equals 1 MMF in value. The idea of a mirror asset for MMF is going to be very important, because logging MMF, coupled with huge launchpad costs, will reduce the circulating MMF quickly. SVN tokens will eventually be used for MMFinance launch pads when MMF volatility reaches a point where it makes sense.
What makes SVN different from other algorithmic tokens?
Unlike previous algorithmic tokens, SVN is not pegged to a stablecoin – instead, it is pegged to MMF. Also, unlike other coin defi projects, we can build on top of the existing MMF ecosystem, which allows us more control over how the mechanics interact between the two tokens.
One of the main drawbacks of past algorithmic tokens was the lack of use cases, leaving no good reason for anyone to want to use or hold them. To support tethering in the long term successfully, the MM team will focus on innovation around enhanced functionality and use cases.