Introduction

What is SecureDAO?

SecureDAO is the decentralized reserve currency protocol available on the Fantom Network based on the SCR token. Each SCR token is backed by a basket of assets (e.g., MIM, SCR-FTM LP Tokens etc) in the SecureDAO treasury, giving it an intrinsic value that it cannot fall below. SecureDAO also introduces economic and game-theoretic dynamics into the market through staking and minting.

What is the point of SecureDAO?

Our goal is to build a policy-controlled currency system, native to the FTM network, in which the behavior of the SCR token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that SCR can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world!

How do I participate in SecureDAO?

There are two main strategies for market participants: staking and minting. Stakers stake their SCR tokens in return for more SCR tokens, while minters provide LP tokens or MIM tokens in exchange for discounted SCR tokens after a fixed vesting period.

How can I benefit from SecureDAO?

The main benefit for stakers comes from supply growth. The protocol mints new SCR tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains 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.

The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in SCR tokens and thus the minter's profit would depend on SCR price when the minted SCR matures. Taking this into consideration, minters benefit from a rising or static price for the SCR token!

Who created SecureDAO?

SecureDAO is a fork of Wonderland on the Fantom Opera Network. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.

We also took inspiration from a few other projects, such as Olympus and Snowbank.

Who runs SecureDAO?

Currently 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!

Last updated