What Is Papa Dao (PAPA)?
Papa Dao is decentralized reserve currency protocol on the Avalanche Network based on the PAPA token. This develops infrastructure incentives that fulfill its objectives with the PAPA token as the currency of the metaverse and the gaming universe. As a matter of course, PAPA will back and help build the future of metaverse and gaming.
Each PAPA token is backed by a basket of assets (e.g, MIM, PAPA-AVAX LP Tokens, Metaverse Infrastructure Projects, Play-to-earn projects, Digital Land etc etc) in the PAPA DAO treasury, giving it an intrinsic value that it cannot fall below. PAPA also introduces economic and game-theoretic dynamics into the market through staking and bonding.
Papa Dao Storage Key Points
|Coin Name||Papa Dao|
|Circulating Supply||5,917,971.00 PAPA|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
What is the point of PAPA DAO?
This goal is to build a policy-controlled currency system, native on the AVAX network. The PAPA ecosystem and monetary policy are managed by the PAPA. This way guarantee transparent decision making and long -term stability. In the long run, they believe this system can be used to optimize for stability and consistency so that PAPA can function as a global unit-of-account and medium-of-exchange currency – both in real-life and in the Metaverse.
In the short term, intend to optimize the system for growth and wealth creation.The point is to create a new monetary system backed by metaverse & gaming infrastructure, and to build an economy around it.
How do I participate in PAPA DAO?
There are two main strategies for market participants: Staking and Bonding. Stakers stake their PAPA tokens in return for more PAPA tokens, while Bonders provide LP tokens or MIM tokens in exchange for discounted PAPA tokens after a fixed vesting period. As PAPA grows, its objectives is to have a variety of LP tokens from Metaverse and Gaming Projects available for bonding.
How can I benefit from PAPA DAO?
Stakers benefit from supply growth. The protocol mints new PAPA tokens from the treasury, the majority of which are distributed to the stakers. Therefore, the gain for stakers will come from their auto-compounding balances, though price exposure is also an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. Bonders benefit from price consistency.
Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is given in PAPA tokens and thus the Bonder’s profit would depend on PAPA price when the minted PAPA matures – i.e. when the fixed vesting finish. So, Bonders benefit from a rising or static price for the PAPA token.
Who created PAPA DAO?
Papa Dao is a fork of Olympus on the Avalanche Network. Your team is mostly anonymous, born from the DeFi Community as well as the startup scene. They are a group of serial entrepreneurs, DeFi farmers, blockchain developers, and growth hackers. PAPA is working actively at becoming a Decentralized Autonomous Organization — creating a new monetary system backed by metaverse & gaming infrastructure, and to build an economy around it.
Who runs PAPA DAO?
At the moment, most of the decisions are taken by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible! There is a demand for a decentralized reserve currency. Dollar-pegged stable coins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether.
Bonding is one of the ways in which PAPA generates profits. The protocol will sell bonds of other tokens like MIM for discounted PAPA tokens, which will then be vested for gradual release to the bonding party. This allows full-time investors to actively manage their PAPA portfolio and generate significant rewards over time whilst also supporting the growth of the PAPA by financing its liquidity and facilitating more upwards price movement.