Asgard DAO AMA Transcript

“Decentralized Currency Reserve Protocol built on Binance Smart chain”

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with Asgard Dao!

Asgard DAO is doing $500 giveaway for 50 people today🤩

Today we have @spaceav joining us to talk about their exciting new project. Great to have you here, Kevin 🙂

Kevin

✋hello everyone, great to be here today

Stephanie (BSC.News)

Happy to have you here Kevin 😃

Alright, so we will dive into the questions!

Kevin

yeha sure, am excited

1. Please introduce yourself and the team behind Asgard Dao.

Kevin

I am the founder of Asgard Dao. We are a community project built by a team of engineers, researchers, and marketing professionals who have participated in Olympus and other OHM forks. By combining the best traits of these DAOs and our team’s past experience, we aim higher and plan to build something even bigger.

Stephanie (BSC.News)

Okay awesome! Thank you for that introduction, Kevin.

2. What is Asgard Dao and what are you trying to accomplish with your project?

Kevin

Asgard’s aim is to offer a new class asset token that can be a part of any portfolio. It can be used to hedge risky assets while offering safer and better incentives than stable coins.

Stephanie (BSC.News)

Very cool!

3. Can you briefly list the features that you offer on Asgard Dao?

Kevin

It is a decentralized treasury-backed currency on BSC that maintains a value of at least 1$ USD. However, Asgard is not pegged to anything and therefore can have a value worth more than 1$ USD providing its holders with a potential for great upside.

We are in the early phase of the project and put its early adopters in a unique position, where they can capitalize on their contribution to incentivizing the currency. 

We have currently staking and  bonding .

Stephanie (BSC.News)

Neat. Thank you for that information. So now to unpack a bit

4. Why is Asgard Dao safer than stable coins?

Kevin

I like this question.

First of all, Asgard is not a stable coin. Rather, Asgard aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, Asgard provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves Asgard draws its intrinsic value form.

Furthermore, Each Asgard is backed by 1 USDT, not pegged to it. Because the treasury backs every Asgard with at least 1 USDT, the protocol would buy back and burn Asgard when it trades below 1 USDT. This has the effect of pushing Asgard price back up to 1 USDT. Asgard could always trade above 1 USDT because there is no upper limit imposed by the protocol. Think pegged == 1, while backed >= 1

You might say that the Asgard floor price or intrinsic value is 1 USDT. We believe that the actual price will always be 1 USDT + premium, but in the end that is up to the market to decide.

Stephanie (BSC.News)

Gotcha! Thank you for the detailed example.

5. How can users hedge risks using Asgard Dao? Can you please give an example?

Kevin

let’s break down the basics

Each Asgard token is backed by 1 BUSD (i.e. USDT, DAI, BUSD, USDC) in the treasury. We will initially start with BUSD as our treasury asset. After launch, we will be adding other stable coins to balance our treasury. This will include BUSD, USDC etc.

Tokens cannot be minted or burned by anyone except the protocol. The protocol only mints or burns in response to price. Asgard does not rebase. Instead, a new supply is created via direct sales into the market and burned via direct purchases from the market. This way, Asgard remains backed by real assets in the treasury, i.e., BUSD.

When Asgard trades below ↓ 1 USDT, the protocol buys it back and burns Asgard.

When Asgard trades above ↑ 1 USDT, the protocol mints and sells new Asgard.

This is because the treasury must hold 1 USDT and only 1 USDT for each Asgard every time it is bought or sold so it makes a profit. That means the protocol either gets more than 1 USDT for the sale side or spends less than 1 USDT on the purchase side.

The fact that the protocol holds USDT for each token allows us to say with certainty that Asgard will not trade below its intrinsic value in the long term.

Investments can then be made with defined risk because 1 USDT is the guaranteed long-term price floor. And because of this, the protocol can (and will) buy indefinitely below 1 USDT until no sellers remain, even if the supply is reduced to 0. In this example this event would reward those who did not sell immensely because they would end up with a chunk of every token that was burned..

For more in-depth knowledge

Stephanie (BSC.News)

That’s pretty amazing.

6. What is $Asgard and how are they utilized on your platform?

Kevin

It is a currency backed by multi-asset stable coins. It is a currency of which the treasury and reserve are protocol controlled. It is a currency driven by a community-governed protocol.

Buying Asgard as close to or just below 1 USDT as you can.

Remember the distance from 1 is the risk you take on (actually it is negative below 1!).

Regardless of where you buy you can then stake your Asgard or provide it to the Pancake swap pool as liquidity and bond the LP token.

In both cases, you will earn more Asgard over time!..

Stephanie (BSC.News)

Awesome! 😎

7. Why should I stake Asgard?

Kevin,

Staking Asgard will be profitable for investors.. For Example your Asgard balance will grow exponentially over time thanks to the power of compounding in staking in our platform.

Let’s say you buy a Asgard for $400 now and the market decides that in 1 year time, the intrinsic value of Asgard will be $2. Assuming a daily compound interest rate of 2% in staking, your balance would grow to about 1377 Asgard’s by the end of the year, which is worth around $2754. That is a cool $2354 profit! By now, you should understand that you are paying a premium for Asgard now in exchange for a long-term benefit. Thus, you should have a long time horizon to allow your Asgard balance to grow exponentially and make this a worthwhile investment.

Stephanie (BSC.News)

Wow, amazing profit! I should check that out!!

8. Tell us about how funds are controlled with rebase mechanism

Kevin

As the protocol controls the funds in its treasury, Asgard can only be minted or burned by the protocol. This also guarantees that the protocol can always back 1 Asgard with 1 USDT. You can easily define the risk of your investment because you can be confident that the protocol will indefinitely buy Asgard below 1 USDT with the treasury assets until no one is left to sell. You can’t trust the FED but you can trust the code.

As the protocol accumulates more liquidity, more runway is guaranteed for the stakers. This means the stakers can be confident that the current staking APY can be sustained for a longer term because more funds are available in the treasury.

Rebase is a mechanism by which your staked Asgard (sAsgard) balance increases automatically. When new Asgard are minted by the protocol, a large portion of it goes to the stakers. Because stakers only see staked Asgard (sAsgard) balance instead of Asgard, the protocol utilizes the rebase mechanism to increase the staked Asgard (sAsgard) balance so that 1 staked Asgard (sAsgard) is always redeemable for 1 Asgard.

Stephanie (BSC.News)

Great!

9. Please explain some key points about bonding in your platform

Kevin

Bonds refer to the process of trading Liquidity Provider (LP) tokens for Asgard tokens at a discount (below market price).

With Asgard, the process of purchasing bonds has been simplified to a one-step process. Instead of having to purchase the LP tokens then trading them for Bonds, users only need to have the asset-pair (BUSD + Asgard) in their wallet to purchase the bonds directly.

Bonds are vested for 5 days and are paid out per block height. For example, if you were to purchase a bond, after the first day you would have received 20% of the vested amount; then 40% after the second day, etc….

Stephanie (BSC.News)

Purchasing a bond is very easy and simple with the Asgard platform!

Last but not least

10. Any exciting news you would like to announce here today?

Kevin

Presale will be live at 3Pm UTC, we invite community members to give 200 white list spots on first come first basis . 

please fill the form in order to participate in the presale . 

YouTube

Introduction Asgard Dao – The Most advance OHM fork built On Binance smartchain

The Most advanced OHM fork built on Binance Smartchain .

Asgard DAO

Decentralized currency Reserve Protocol built on Binance smart chain. A community-owned decentralized financial infrastructure designed to facilitate growth and transparency .

Official links 

Telegram Chat Group :

Telegram Ann. Channel:

Website :

Discord:

Whitepaper:

Twitter :

Medium :

Stephanie (BSC.News)

Wonderful! If you haven’t already, make sure to go and check out Asgard Dao everyone! Super exciting project that you don’t want to miss out on 🙂

‍This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.

Source : bsc.news