Happening June 22nd, MahaDAO will launch the world’s first valuecoin on Polygon, called ARTH, according to the company.
ARTH, the asset, will debut on the Polygon network. The Polygon network was selected based upon three simple reasons: It fully benefits from Ethereum’s network, it is secure and it is open and powerful.
Polygon is an Ethereum-compatible protocol and architecture that builds and interconnects blockchain networks. The network brings together scalable Ethereum solutions to support a multi-chain Ethereum ecosystem.
Following the launch in the near future, ARTH, a fractional reserve stablecoin entirely backed by collateral, will be further implemented on Ethereum, Binance Smart Chain (BSC), and other blockchain networks.
MahaDAO Brings New Value to Polygon
Unlike other stablecoins like USDT and USDC, ARTH’s value is determined by the asset’s underlying buying power rather than its price.
Other than being backed by the US dollar (USD), as is the case with fiat-pegged stablecoins, ARTH is backed by a basket of uncorrelated assets that includes 5% bitcoin, 15% gold, and 80% fiat.
MahaDAO will allow users to farm its new collateral-backed stablecoin after it launches on June 22nd, paying with MAHA and ARTHX tokens in return. Top decentralized platforms like SushiSwap, DFYN, and others will offer ARTH farming.
Early miners reach higher rewards due to MahaDAO’s exponential distribution program designed to promote liquidity farming. Miners also earn interest on ARTH tokens by staking ARTH and earning an interest, through MahaDAO ARTH Savings Rate program.
ARTH and ARTHX are Coming
ARTHX is a deflationary token designed to absorb the volatility of ARTH and ensure its stability. While MAHA is the protocol’s native governance token.
Holders of MAHA tokens are entitled to redistribute ARTH’s non-correlated basket of assets – i.e. reduce the percentage of fiat while increasing that of bitcoin.
The ARTH target price is determined by a basket of stable assets calculated using a Maha proprietary index dubbed the “Global Measurement Unit.” Additional solid measures including seigniorage shares, automated rebalancing, and trusted oracle price feeds will help to keep the price of ARTH stable.
Early adopters interested in participating in the MahaDAO Genesis launch can trade USDT, USDC, DAI, ETH, and MATIC tokens for ARTHX tokens. Also, these users taking part in the Genesis will participate in a raffle to win an NFT from the MahaDAO team.
A Great Way to Enter Crypto
MahaDao with its ARTH token is targeted at students, shoppers, tourists, businessmen, employees, passengers, institutions & governments; basically anyone needing to exchange value.
MahaDAO is ready to deploy cross-chain liquidity, since ARTH is compatible with tokens and currencies from other blockchains.
This token compatibility allows a massive liquidity pool across chains. Very soon ARTH holders will be able to stake, lend, borrow and trade ARTH across chains. Also, MahaDAO is developing products, built and managed by the community itself, that will fuel the entire ecosystem.
Huge Debts May Drive Cryptos Higher
For the first time in 2021 the United States reached over $27 trillion of national debt excess, and current inflation sits at 4.5%. The management team at MahaDAO strongly believes that a new kind of hedge, independent of the value of the US dollar, is badly needed.
As expected within the crypto ecosystem, several projects are undergoing integration processes to include ARTH within its operations, three particular ones were chosen to be incubated by MahaDAO itself. Most of these projects will be ready to go live in parallel to the MahaDAO platform release on June 22nd.
The DeFi initiative behind algorithmic valuecoin ARTH is MahaDAO, a Decentralized Autonomous Organization (or DAO) operating on rules encoded in smart contracts.
Because the valuecoin is value-stable and governed by its community via a separate governance token, holders can vote on savings rates, stability fees, direction, strategy, and future advancements for the ARTH token.
For more information on MahaDAO, and the new ARTH valuecoin, please click here.
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Source: MahaDAO to Launch ARTH: World’s First Valuecoin on Polygon