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HomeCOINSWhat Is Algomint (GOMINT) Coin Review ? Complete Guide...

What Is Algomint (GOMINT) Coin Review ? Complete Guide Review About Algomint

What Is Algomint (GOMINT) Coin Review ?

Algomint is the next generation blockchain infrastructure that solves the interoperability challenge. We bring popular assets to Algorand where you can enjoy high speed and low fees in its flourishing DeFi scene. Holders can join the party too. You can now store your BTC and ETH in the secure vault of Copper.co, mint goBTC and goETH on a 1:1 ratio, and redeem later on demand.

Algorand, founded by cryptography pioneer and Turing award winner Silvio Micali, is a future-proof blockchain that has solved the trilemma of security, scalability, and decentralization. Check out its rich ecosystem to learn more. Algomint is a cross-chain liquidity network, with a focus on maintaining liquid interoperability while safely and securely optimising capital efficiency and cross chain transactions.

At its core, Algomint is a bridge but bridges have traditionally sacrifi ced capital efficiency for certainty of interoperability. Algomint solves this by combining bridging, native stable swaps and multichain DEX aggregation allowing anyone to bridge at low cost as well as access a truly dynamic and efficient market aggregator.

Algomint utilises the native aggregator to arbitrage assets it holds, keeping the market stable and increasing the utility of DEXes. It aggregates by recentring pricing across markets via the range of assets the protocol holds. The protocol will eventually be governed by goMINT token holders through the Algomint DAO. All fees and arbitrage generated by the platform will be delivered to the DAO treasury and controlled through the DAO governance

Algomint (GOMINT)Storage Key Points

Coin BasicInformation
Coin NameAlgomint
Short Name(GOMINT)
Circulating Supply73,057,850.00 GOMINT
Max Supply1,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Governance Staking

By staking $goMINT and participating in governance, users will be eligible for rewards. Rewards are distributed proportionally to eligible stakers based on a combination of the quantity staked and the amount of time the stake is locked. By locking for longer periods, stakers will receive increased voting power and increased rewards for their commitment to the protocol.

How Does Work

Take $goUSD, which will be the Algomint standard representing a USD stable coin basket accepting $PAX, $DAI, $sUSD, $GUSD, $UST, $FEI, $USDC, $USDT, $BUSD, $TUSD and others. Users can bring any of the accepted USD tokens from any accepted chain and deposit in order to receive $goUSD or swap to any of the other tokens within the basket. The example below, shows the value gained for stable coins that are accepted into the basket. $GUSD (Gemini USD$ Token) which is an ERC-20 wants to bridge and have utility in the Algorand ecosystem, but faces the issue of acceptance, building liquidity in the token

Basket

Bridging won’t just be mapped from one asset to a $goASSET equivalent, where possible liquidity will be consolidated when there are multiple like-for-like assets accepted by the bridge (see How does the basket work?). This feature creates the opportunity for reduced fragmentation in liquidity across a range of assets. This provides additional bridging style options (swapping within the baskets) and provides an easy path to utility for basket assets to gain instant access anywhere the basket $goASSET is accepted.

Summary

Over the coming months and years Algomint will strive to create interoperability that doesn’t just allow the movement of assets between chains but also: 1. Turn dead equity into a value generating resource. 2. Create asset efficiency through consolidation of like-for-like assets. 3. Deliver on effective (time and pricing) cross-chain swaps. Still to come from the team in the later additions of the litepapers / whitepaper will include how basket balancing will be structured. How cross-chain swaps are achieved and the technology/ies to be used for the decentralisation of Algomint