DarumaDAO (DRM)

The First Decentralized Reserve Currency Protocol Built on the Nervos Blockchain

Review Score
ICO Price
15 USD
Pre ICO Price
Soft Cap
Hard Cap
420000 USD
Start Date
17 January 2022
End Date
18 January 2022

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.

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