What is Mynos Metaverse DAO?
Mynos Metaverse DAO is the decentralized reserve currency protocol available on the Ethereum Network based on the MYNOS token. Each MYNOS token is backed by a basket of assets (e.g., FRAX, MYNOS-FRAX LP Tokens etc etc) in the Mynos Metaverse DAO treasury, giving it an intrinsic value that it cannot fall below. Mynos Metaverse DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.
Token IDO Sale will be in two parts:
1. “Whitelisted” Settlers into a Faction (11/25/12021–0:00 CET) — (11/25/2021–23:59 CET) During this phase Settlers that have been whitelisted (joined to a Faction) will be eligible to purchase up to their maximum allocated $MYNOS — (400 $MYNOS) * Any remaining allocations will go to the “Public” Settlers phase .
2. “Public” Settlers (11/26/2021–0:00 CET) — (11/26/2021–23:59 UTC) During this phase all will be eligible to purchase $MYNOS. The $MYNOS will follow the same lockup details as above.
3. The first epoch starts at (11/27/2021–0:00 UTC) — Mynos Staking App will host staking and bonds (You will be able to purchase: — FRAX bonds — FRAX MYNOS lp bonds from the time of initial release). You will be able to claim 50% of purchased tokens. 50% Locked in auto-compound staking for 2 weeks.
4. The Initial APY — 91,723% — UniSwap will host $MYNOS at $6 with $234,000 FRAX initial liquidity. (11/27/2021–0:00 CET)
If you get tagged with Builder you are accepted into a Faction, therefore, you are whitelisted.
Why do we need Mynos in the first place?
Dollar-pegged stablecoins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether. Users are comfortable with transacting using stablecoins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is a fallacy. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stablecoins.
Mynos aims to solve this by creating a non-pegged stablecoin called MYNOS. By focusing on supply growth rather than price appreciation, Mynos Metaverse hopes that MYNOS can function as a currency that is able to hold its purchasing power regardless of market volatility.
Twitter：https://twitter.com/MynosDAO
Discord：https://discord.gg/mynosdao
Website：https://mynos.space/
