Snowbank (SB) is a decentralized reserve currency protocol on the Avalanche Network. More
| Fully Diluted Valuation | $41.00M |
|---|---|
| 24H Trading Volume | $92 |
| 24H Low / High | $255.70 / $ 262.20 |
| Circulating Supply | 159.64K |
| Total Supply | 159.64K |
| Max Supply | ∞ |
| Categories | Ohm Fork 3 more |
|---|---|
| Founder | Dave Rosso |
| Website | snowbank.finance |
| Socials | |
| Chains | Avalanche Ecosystem |
| Explorer | Snowtrace 4 more |
| Contracts |
0x7d1....8942f
|
| Name | Pair | OG Score |
|---|
Snowbank (SB) is a decentralized reserve currency protocol operating on the Avalanche Network, founded by Dave Rosso. This platform introduces economic dynamics through staking and minting, aiming to provide stability and reliability to its users.
About Snowbank:
Snowbank DAO, a fork of Olympus on the Avalanche Network, secures each SB token with a basket of assets within its treasury, ensuring a baseline intrinsic value. The platform seeks to establish a policy-regulated currency system on Avalanche, allowing the DAO to exert control over the SB token's behavior.
Objectives and Vision:
Snowbank's primary objectives include optimizing for stability and consistency, envisioning SB as a global unit-of-account and medium-of-exchange currency. The platform aims to detach from traditional finance, achieving price flatness for a representative basket of goods within the cryptocurrency industry.
Building a Community-Owned Infrastructure:
Beyond functionality, the protocol aspires to create a community-owned decentralized financial infrastructure, aiming to bring stability and transparency to the decentralized finance (DeFi) space. Snowbank seeks to mitigate risks and provide liquidity for all users in the ecosystem.
Participation Strategies:
Snowbank provides two primary participation methods: staking and minting. Stakers contribute SB tokens to receive more SB tokens, fostering a cycle of participation. Minters play a role by providing LP tokens or MIM tokens in exchange for discounted SB tokens after a fixed vesting period.
Conclusion:
Snowbank (SB) positions itself at the forefront of the decentralized finance landscape, focusing on stability, transparency, and community ownership. With its innovative reserve currency model and economic dynamics, Snowbank DAO offers users tools and opportunities to shape the future of finance on the Avalanche Network.
Snowbank (SB) distinguishes itself by being a decentralized reserve currency protocol on the Avalanche Network, offering stability through intrinsic value backed by a diverse asset basket within the Snowbank DAO treasury. Its economic dynamics, driven by staking and minting, set it apart in the cryptocurrency landscape.
Dave Rosso is the founder of Snowbank DAO, providing leadership and vision for the platform's innovative approach to decentralized finance on the Avalanche Network.
You can buy Snowbank (SB) on Trader Joe cryptocurrency exchanges.
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