Incentives for HODLing CHIPS Stablecoins
Why should not I sell and go to Maldives? Or maybe Bali?
Our aim is to keep CHIPS coin price above peg for as long as possible.
We aim is to do this in 5 ways:
A special FISH pool which we call the ChipSwap has been added to the protocol. We noticed that in most other algorithmic stablecoins, people are selling their token for profit, which eventually kills the project. Instead, we allow you to swap your CHIPS coins for FISH shares. This will also burn the CHIPS coins thus keeping their supply low. So now you never need to sell your CHIPS coins. This is a big part of our project.
Once below peg a new pool opens up, MPEAS/CHIPS which mints FISH shares.
Using fees applied at various staking/unstaking times to allow purchasing and burning of CHIPS coins by DAO.
Addition of fees for withdrawing FISH shares from the Boardroom. For example, there is a 10% fee on withdrawal of FISH shares from the Boardroom when their price is below 1.05 ETH. Please note that an EPOCH has to start ABOVE 1.05 ETH in order for you to withdraw without the tax.
MPEAS bonds which burn the supply of CHIPS coins on purchase, on contraction only.
We also aim to have buy-pressure on some well-known vaults shortly after we go live.
More details on these new pools and staking fees to come.
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