MiniVerse Dollar was created to be used as a stable coin for things such as exchange, nft gamefi, and more.
The protocol's algorithm aims to maintain MvDOLLAR's peg of 1:1 MvDOLLAR:USDC in the long run.
Note that MvDOLLAR actively pegs via an algorithm, it does not mean it will be valued at 1 MvDOLLAR: 1 USDC at all times as it is not collateralized. MvDOLLAR is not to be confused for a crypto or fiat-backed stable coin.
MiniVerse Shares (MSHARE) are one of the ways to measure the value of the MvDOLLAR Protocol and shareholder trust in its ability to maintain MvDOLLAR close to peg. During epoch expansions the protocol mints MvDOLLAR and distributes it proportionally to all MSHARE holders who have staked their tokens in the boardroom.
MSHARE has a maximum total supply of 67,012 tokens distributed as follows:
- 1.Future LP Reward/Dev Allocation: 25000 MSHARE vested linearly 300 days
- 2.Rewards: 41000 MSHARE are allocated for incentivizing Liquidity Providers in share pools for the next year
These MvBONDs can be redeemed for MvDOLLAR when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for MvDOLLAR when it is above peg, helping to push it back toward 1 MvDOLLAR to 1 USDC ratio. Contrary to early algorithmic protocols, MvBONDs do not have expiration dates. If your MvDOLLAR is below peg exchange, it for MvBOND and redeem after peg is above 1.1 to receive bonus MvDOLLAR! All holders are able to redeem their MvBOND for MvDOLLAR tokens as long as the Treasury has a positive MvDOLLAR
balance, which typically happens when the protocol is in epoch expansion periods.
MvBONDs do not have expiration dates.