Yuan — a 100% community-driven project with no pre-mining, no founder and team shares, and no venture capital shares that are equal for all participants.
Contents:
Description of the Yuan
Yuan — an elastic token that tracks the exchange rate of the RMB against the US dollar. Unlike other elastic tokens that rely on expanding / contracting money, Yuan plans to develop other protocols (like AMM, lending, etc.) to introduce more demand-side variables into the equation.
The Yuan experiment aims to achieve the following goals:
| 1 | Creation of the first elastic token to track the RMB / USD exchange rate. |
| 2 | Relevant protocols are likely to include AMM and credit protocols, for which detailed proposals will be determined by future management. |
| 3 | Implementation of a permanent incentive and a shared liquidity pool. |
For Yuan, any protocol offers to integrate the Yuan and provide an incentive. The community may decide to extend the RMB liquidity reward to integrated platforms. Yuan has a 4-year ongoing fundraising initiative to fund community participation. Thus, it is not just an elastic rebase token, where its offer is controlled by a predefined anchor rate and rebase rules.
The trading and lending protocols will provide liquidity to external demand in an elastic money supply, that is, the trading fee for the purchase of Yuan to be distributed among LPs and the equity reserve in the lending protocol to help to purchase the RMB for distribution to lenders / borrowers.
Additional information
There is no WhitePaper document on the site. Instead, a blog is available on the Medium platform.
From social networks, the community leads:
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