Place/Date: - June 10th, 2021 at 1:00 pm UTC · 2 min read
Contact: MahaDAO, Source: MahaDAO
MahaDAO is preparing to launch what it calls the world’s first valuecoin on June 22nd. The asset, ARTH, will initially go live on the Polygon network.
A fractional reserve stablecoin fully backed by collateral, ARTH is also set to be deployed on Ethereum, Binance Smart Chain (BSC), and other blockchain networks in the near future.
Distinct from common stablecoins such as USDT and USDC, ARTH’s value is reflected by the underlying buying power of the asset rather than the price. Instead of being backed by the US dollar (USD) as is common with fiat-pegged stablecoins, for example, ARTH is pegged to a basket of uncorrelated assets as follows: 5% bitcoin, 15% gold, 80% fiat.
After launching on June 22nd, MahaDAO will enable users to farm its new collateral-backed stablecoin, with rewards paid in MAHA and ARTHX tokens. Farming will be available on SushiSwap, DFYN, and other leading decentralized platforms.
MAHA is the protocol’s native governance token while ARTHX is a deflationary token designed to absorb the volatility of ARTH and guarantee its stability.
Holders of MAHA tokens have authority on whether to redistribute ARTH’s non-correlated basket of assets – i.e. reduce the percentage of fiat while increasing that of bitcoin.
Users keen to participate in the MahaDAO Genesis launch can pledge collateral in the form of USDT, USDC, DAI, ETH, and MATIC in exchange for ARTHX tokens. Users who participate in the Genesis will also receive lottery tickets to win a NFT by the MahaDAO team.
With US national debt having exceeded $27 trillion for the first time in 2020 and inflation currently sitting at 4.5%, the MahaDAO team firmly believes that the time is right for a new kind of hedge that is not overdependent on the value of the US dollar.
Several projects have already set up integrations for ARTH, including three projects incubated by MahaDAO itself. These are set to go live alongside the launch of the platform on June 22nd.
MahaDAO is the DeFi project behind algorithmic valuecoin ARTH. The valuecoin gives holders’ financial freedom with zero volatility, as it is value-stable and controlled by its community via a separate governance token, with holders able to vote on savings rates, stability fees, direction, strategy and future developments for the ARTH token.