What is DarumaDAO?
DarumaDAO is the first decentralized reserve currency protocol built on the Nervos blockchain, inspired by OlympusDAO. The core product of DarumaDAO is $DRM, an algorithms-aided stable currency. Each $DRM is backed by a basket of assets in the treasury, which gives it a floor value that it can not fall below. $DRM is an interest-bearing asset, meaning the balance of DRM will grow in time, so does its value as the treasury guarantees the intrinsic value.To mint $DRM, users who hold a treasury accepted token will commit their tokens and receive a discounted amount of $DRM in exchange. This works like the most common bond, and these bonds pay periodic (8 hours) returns and mature at a specific window (5 days). The returns can be additionally used to stake and earn the inflation rewards in compounding.