MITH Cash — a new algorithmic stablecoin, forged from Mithril, a precious silver metal that is not only stronger but also lighter than steel, just like the community that is being built. As the adoption of cryptocurrencies grows, so does the growth of a strong set of stablecoin options. Mithril Cash will launch without a team or investment. Only those, who contribute to the project, will get rewards.
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Description of the MITH Cash project
While several different algorithmic stablecoin projects have appeared, the developers believe that the basic money design is the best. It has proven to be sustainable and has the widest distribution among users.
The Mithril Cash protocol controls money supply in the same way that the world's central banks can channel the value of fiat money through monetary policy. By controlling the amount of money supply in the economy by buying or selling bonds, the target value can be achieved. Instead of a central bank or currency board, rules are set and executed programmatically through smart contracts so that the behavior of the system can be predictable.
There are three tokens in the Mithril Cash protocol:
| 1. | Mithril Cash (MIC). |
| 2. | Mithril Share (MIS). |
| 3. | Mithril Bond (MIB). |
MIC - a stablecoin token in the system with a target value of $ 1. Mithril Share token holders will be the backbone of the system, providing resources and guidelines on the protocol. In turn, holders of Mithril Share tokens will receive any new cash supply that enters the system. Mithril Cash and Mithril Bond tokens help to move in price and guide the MIC to $1.
Additional information
The developers provide a separate document with a description of all features of the project, as well as with the rules of work. Also, some information can be found on the main page of the platform. The community leads from social networks: twitter, telegram, discord. Subscribe to stay up to date with all news and updates.