About Polydoge Dao
PolyDogeDAO is an innovative solution that can adjust The supply deterministically to move the price of the stable coin PolyDogeDollar (PDD) in the direction of a target price to bring programmability and interoperability to DeFi. One of the biggest issues of right now is utility.
PolyDogeDAO Ico will give one more use-cases right away. PolyDogeDollar is designed to work with the main token as additional economics. This is designed by the team as the algorithmic stablecoin which specifically uses an “algorithmic central protocol” approach to manage the supply of PolyDogeDollar tokens according to a predetermined logic.
The algorithm is in charge of balancing PolyDogeDollar supply to a fluctuating demand, ensuring that the token price remains relatively stable.
| ICO | DETAILS |
|---|---|
| Company Name | PolyDogeDAO |
| Token Symbol | POLYDOGE |
| IEO EnDed | 10 Nov — 11 Nov 2021 |
| Total Raised | $ 150,000 |
| Total Supply | 1,000,000,000,000,000 |
| Public Sale | 1,951,574,920,962 (0.20%) |
| Access | Public |
| Whitepaper | Click Here To View |
| Website | Homepage |
Components
- PolyDogeDollar PDD
Stability system in the protocol deterministically expands and contracts the PDD supply to maintain PDD‘s peg to 1 MATIC token. So in short the ideal balance is the target of 1 PDD to be peged to 1 MATIC.
PolyDogeShare PDS
PolyDogeShare represent the value of the and trust in its systemic ability to maintain PDD to peg. When time-weighted average price (TWAP) of PDD is above the 1 MATIC peg (in short epoch expansions), the protocol mints PDD and distributes it proportionally to all PDS holders who have staked their tokens in the boardroom.
Additionally, PDS are used to achieved a completely decentralized on-chain governance where PDS holders have voting rights and the ability to create proposals to improve the protocol. PDS has a maximum total supply of 100 000 tokens.
PolyDogeBonds PDB
PolyDogeBonds help to incentivize changes in supply during both epoch expansion and contraction periods. When TWAP falls below 1 MATIC peg, They gets issued and can be bought with PDD at its prevailing price. Doing this takes out of its circulating supply.
Stability system
Stability system is the main defense line of PolyDoge DAO to prevent any destructive resistance. The point is to reward The buyers for helping the protocol to stabilize the price of to it’s peg to 1 WMATIC.
Genesis
Genesis period represent the initial supply of PolyDogeDollar – PDD for the successful launch of PolyDogeDao. Initial mint of 80 001 PDD will be distributed for 4 days by 3 single asset staking pools – WMATIC, USDC and of course the Saint PolyDoge. There will be and one LP pool which is PDD-WMATIC. Each pool will have reward as follows:
9 000 PDD will be reserved for WMATIC, 9 000 PDD will be reserved for USDC, 8 000 PDD for the PolyDoge pool and 14 000 PDD for PDD-WMATIC LP pool. WMATIC and USDC staking pools have 2% deposit fee which will be used for initial liquidity with the remaining 40 000 PDD. With the remaining 1 PDD token team will create PDD-WMATIC pair creation.
Boardroom
Boardroom is the main place of the PolyDogeDAO where PolyDogeShare (PDS) are harnessed to work real hard. And like every hard work there is high reward for the most loyal Dogs. Here PDS are earning expansion rewards in form of PDD. Lets see how all this is happening. First of all there is epoch which is 6 hours during expansions and contractions. Second one is that the price feed oracle for TWAP is based on the average of PDD-WMATIC liquidity pool pair.
DAO Fund
This is a fund established to support PolyDogeDAO system controlled by the developers. Conducts buybacks and acts as a additional defense to help maintain the peg. Later it will move to a governance system to vote on using funds in certain areas of the project and outside such as investment, marketing, events, rewards to all contributors & participants, partnerships to grow PolyDogeDAO etc.
If PDD TWAP is below 1 MATIC, buybacks will be initiated by the DAO. These will be done at a time decided by the team and not publicized until after the protocol is back in expansion to prevent front running.
If PDD TWAP is extremely high, the DAO will sell some PDD to help assist bringing back to peg and prepare its reserves for buybacks below 1 MATIC. The DAO fund can hold a range of assets at the discretion of the team. The DAO fund may or may not invest in safe projects to earn yield and grow itself at the discretion of the team.