Operational Token: $DMND (Diamond)
Elastic Supply
The initial backing per diamond will be set at $1 USD, and this backing is designed to grow over time as it will benefit from treasury yields.
Purchase price = treasury backing per $DMND ($1 USD or higher)
Protocol will automatically repurchase from market = 80% of treasury backing per $DMND($0.80 USD or higher)
Total supply of $DMND available to purchase from the protocol will be unlocked block by block over time over 4 years, after which the supply of $DMND is targeted to inflate at an estimated rate of 3% per year.
The % of inflation, as well as the % of treasury backing per diamond for buybacks can be modified via voting at a later time when the governance is enabled.
Core idea here is to mirror inflationary fiat money and mechanics, but to create a token that holds more real purchasing power and appreciates against USD over the long term, without suffering from too much volatility.
Last modified 1yr ago