CARDAO is the first decentralized reserve currency protocol designed on Cardano chain. The reserve currency is CADA token. The CADA token is backed by a basket of assets in the CARDAO treasury so that its value cannot fall below. Through staking and bonding, users can experience the virtuous cycle of economics and game theory.
What is the point of CARDAO?
As DeFi protocol, CARDAO's goal is to build a new currency system based on the DAO. In the short term, we would prove that the currency system can make CADA general currency for any account and any exchange. It’s just our first goal. If you are curious about the next plan and take advantage of it, please join the CARDAO ecosystem early.
Since DeFi deals with financial assets, ensuring safety is of the utmost importance. Cardano is the only public blockchain with a “scientific philosophy and research-driven approach.” In practical terms, this means that its open-source blockchain undergoes a rigorous peer-review process by scientists and programmers in academia. Also, while observing the activation of Dapps on Ethereum, we discovered that the network fee required to use the services was excessive. This is a problem directly related to the scalability of the network. Cardano aims to maintain the scalability and speed of the network while supporting the creation of fungible tokens, non-fungible tokens (NFTs), semi-fungible tokens and decentralized applications.
That’s why we believe we can realize our grand vision on Cardano.
How do I participate in CARDAO?
The participants of CARDAO have two choices in this system, staking and bonding. They can stake their CADA tokens in return for more CADA tokens. The longer the deposit, the greater the effect of compound interest. Also, they can provide LP or other tokens then get CADA tokens for discounted price. It is a kind of CADA bonding process.
How can I benefit from CARDAO?
As a staker, you can benefit from compounding in CARDAO ecosystem. Your CADA token count is increased while CADA token is backed upon the specific price. The main benefit for bonding comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is given in CADA tokens and thus the bonder's profit would depend on CADA price when the CADA matures. So, the participants bonding the CADA can benefit from a rising or static CADA price.
Who created CARDAO?
CARDAO is created by a pseudo-anonymous team, which consists of the DeFi builders. The team wants to achieve their ambitious goals one by one in the Cardano ecosystem.
Who runs CARDAO?
At first, most of the decisions are taken by the core team. But it will be DAO-governed soon.