Like the hot algorithmic stablecoin projects Ampleforth, Basis, ESD, Mith Cash, etc., SMAC is a stable token project with an algorithmic banking mechanism, but unlike all previous projects, SMAC is the first to invent a unique deflation model, creating A completely unsecured stable token. This mechanism has made an attempt to break away from the collateral, allowing the idea of an internal anchor to stabilize the token to truly land.
As Bitcoin has snowballed into being adopted by financial institutions, the decentralized financial DeFi market is on the rise, coupled with the upcoming network upgrade of Ethereum, stablecoins have also become popular recently, with a total market value of more than 25 billion US dollars. This parabolic growth has attracted the enthusiastic attention of bigwigs outside the cryptography circle, and recently even attracted the attention of a group of US congressmen.
In the blockchain world, some people have borrowed Hayek’s genius ideas and created SMAC (SmartCash) on Ethereum, the world’s largest public chain with the largest amount of funds and the largest number of users. Star project.
SMAC has a strong technical team and Ethereum's core technical team to provide complete and mature technical support. Compared with previous centralized projects, SMAC is based on real blockchain technology, developed on the world's top-level enthusiasm and ecological prosperity of the Ethereum public chain, and successfully settled in the global project of the Ethereum ecology.
In a world of decentralized encryption, people have a strong uncertainty about their trust in centralized stablecoins that anchor secure assets. The SMAC system code is open source, has no backdoors, and is decentralized, creating a completely unsecured stable token. On the other hand, SMAC's algorithmic banking model draws on the monetary system of the real economy and establishes a mechanism for regulating the issuance of stable tokens based on market demand. The SMAC system has stable token SMAC, stock token SMAS and warrant token SMAW.
SMAC is a core token pegged to the value of the U.S. dollar.
Pledge SMAS to the board of directors to fulfill the obligations of directors can enjoy the powers of directors; the powers of directors include enjoying inflation gains when SMAC is greater than $1.03, and issuing SMAW when SMAC is less than $0.97.
When SMAC is less than $0.97, paying 1SMAC will consume 1SMAW at the same time, and you can get a stock token (token) SMAS worth 1 US dollar.
SMAC is against USD-based stablecoins. In theory, 1SMAC=1 USD, and the total amount released is not fixed. During the cold start period, the SMAC Fund directly supplied 50,000 SMACs to the USDT/SMAC liquidity pool on Uniswap.
SMAS is used to pledge to the board of directors, thereby fulfilling the obligations of the directors and thus obtaining the rights of directors.
SMAS released a total of 1 million pieces. Obtained by staking the LP of the two liquidity pools of SMAC/USDT, SMAC/SMAS (Uniswap) and SMAC+SMAW exchange.
Pledge SMAS on the board of directors, become a director, and obtain director rights. When SMAC is less than US$0.97, the distribution of stock warrants for the holding directors will be initiated (automatic issuance of warrant tokens based on the total amount and price of SMAC), and users with SMAW can pay SMAC and consume SMAW, which can be obtained at a low price The stock token SMAS.
Under the new wave of blockchain innovation, Ethereum, the pioneer of public chain, and Polkadot, the pioneer of cross-chain, have distinguished themselves in their respective fields. However, something like this is happening in 2021. The U.S. dollar, as an international currency, is accelerating its depreciation, the centralised international central bank and the Federal Reserve are still accelerating the overprinting of the U.S. dollar, and people’s monetary assets are passively shrinking.
The old and new created by technological progress are like the wheels of history, unstoppable. In such a magnificent wave, SMAC, the pioneer of algorithmic stablecoins, will lead Rebase to 3.0, creating a victory for those who are brave to innovate and pioneer.
SMAC aims to become an algorithmic stable currency recognized by mainstream circles within one year, and to create a virtuous cycle of self-incentive system. This system can resist hyperinflation, is not subject to centralized control, and is more stable and powerful than the previous monetary system. If we achieve this goal, we believe that great value can be created for society, and we have the conditions to achieve this goal.