What Is SpiritDAO Ghost (GHOST)?
SpiritDAO Ghost is a decentralized reserve currency, forked from the successful and secure Olympus DAO. Spirit will rely on the bond-and-stake methodology, in order to raise treasury funds and reward early supporters. This ensures that the Spirit retains ownership of the protocol’s liquidity, to enable consistent, unstoppable growth. To determine adequate liquidation thresholds, lending rates, and borrowing rates for each currency, IronLend will take into account 1. Smart Contract risks, 2. Counter-party risk, and 3. Market risks.
SpiritDAO Ghost Storage Key Points
|Coin Name||SpiritDAO Ghost|
|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|
Why Spirit DAO?
The Spirit is a DAO, meaning it is a community-owned venture fund. The Spirit invests in the most promising, lucrative, and long-term growth potential DeFi protocols. DeFi (Decentralized Finance) has exploded over the last two years. However, most profits have been directed to the same individuals and institutional investors. These individuals have the time, capital, and connections to identify and immediately execute on the most lucrative opportunities.
How do you secure your funds?
For the security of your funds is a priority, that’s why they have taken all the necessary measures so that you can enter your project without stress:
- The funds from the presale will be received on a 2/2 multi-sig contract with a French influencer recommended by our community Muzan. Therefore your funds are 100% secure, to execute a transaction our developer must validate as well as Muzan.
- They will publish the smart contracts’ code on GitHub for public review.
- Commission a code audit by a reputable firm after launch.
The liquidity of the protocol is the availability of the capital to face business operations borrowing amounts and redeeming Tokens. It is a key metric, as lack of liquidity will block business operations. At any point in time, the liquidity of the protocol can be assessed through the utilization rate the share of reserve that is currently borrowed for each currency.
SpiritDAO Ghost The historical utilization rate and Token valuation help assess the level of liquidity risk of the protocol. Once this risk is understood, they can put in place risk management techniques through the interest rate model and set up alternative sources of Token liquidity.
Smart Contract Risks
Smart contract risk depends on the security and robustness of the underlying code of the currency. If the currency suffers a breakdown due to smart contract vulnerability, the protocol’s solvency can be threatened, due loss of value of the underlying asset. Projects must be audited to be considered. The existence of a bug bounty program can further weight positively toward the project.
SpiritDAO Ghost How long the project has existed and how many transactions have occurred represent its use, community, and development. The more mature a project is, the lower risk it generally is considered.
Counter party Risk
Counter party risk assesses the quality of a potential collateral’s governance. How and by who the currency is governed can help identify its degree of decentralization, and to what extent the project is susceptible to various attack vectors on control of funds. SpiritDAO Ghost Counter party risk is measured by the degree of the project’s centralization, number of holders, and trust in the project’s governance.Currencies with a high counter party risk will not be considered as collateral.
Market risks are linked to the market size and fluctuations in offer and demand. These risks are particularly relevant for the assets of the protocol the collateral. If the value of the collateral decreases, it might reach the liquidation threshold and start getting liquidated. SpiritDAO Ghost The markets then need to hold sufficient volume for these liquidations – sells which tend to lower the price of the underlying asset through slippage affecting the value recovered.