Polygon (MATIC) to Host First-Ever Valuecoin by MahaDAO

Forum 2 years ago

Polygon (MATIC) to Host First-Ever Valuecoin by MahaDAO

The tam at MahaDAO is going to release its pioneering stablecoin-like product valuecoin, ARTH, on Polygon (MATIC), rapidly expanding the smart contract environment.

Introducing pioneering valuecoin, ARTH

According to a press release shared with U.Today, MahaDAO announces the launch of its first-ever valuecoin on top of the Polygon Network (previously Matic).

On June 22, ARTH valuecoin will launch on Polygon, while Ethereum-based, BSC-based and other versions will be unveiled in the near future.

ARTH is a one-of-a-kind asset backed by the bucket of uncorrelated assets: namely, 5% Bitcoin, 15% gold, 80% fiat. That is why the ARTH price will not be exposed to inflation-driven moves.

The governance model of the new product will be decentralized. Holders of MAHA (MahaDAO's core governance asset) will be able to redistribute ARTH’s non-correlated portfoilo of assets. For instance, the share of Bitcoins (BTC) can be reduced while fiat's exposure can increase.

Approaching MahaDAO's "yield farming" launch

Also, starting from June 22, 2021, MahaDAO will introduce "yield farming" with MAHA and ARTHX tokens as rewards. ARTHX is another token by MahaDAO designed to ensure the stability of ARTH token by absorbing liquidity.

Then, all participants in the MahaDAO genesis launch can collateralize their USDT, USDC, DAI, ETH and MATIC tokens to obtain a loan in ARTHX tokens.

Finally, early supporters of the June 22 launch event will be eligible for participation in a lottery. Winners will receive exclusive non-fungible tokens (NFTs) by MahaDAO.