Introduction
$MAMA token is the reserve currency built on the Polygon Network, with each token backed by a basket of stable coins.
Our vision is to develop infrastructure incentives that back and contribute to building the future of the MAMAVERSE where $MAMA token becomes the legal tender across the MAMAVERSE.
MAMA also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.
Metaverse is the next evolution of the internet - one that empowers anyone to freely express themselves and immerse in the digital world. We believe the Polygon network will become the key backbone to the metaverse and Defi gaming as it offers cheaper and more efficient scaling solutions in the ecosystem. And MAMAVERSE is here to capitalise on this opportunity by backing the Metaverse infrastructure projects and play-to-earn gaming projects in the future.
Our goal is to build a policy-controlled currency on the Polygon network, in which the behaviour of the MAMA token is controlled at a high level by the DAO. In the long run, we believe this system can be used to optimize for stability and consistency so that MAMA can function as a global unit-of-account and medium-of-exchange currency (including in Metaverse). In the short run, we intend to optimize the system for growth and wealth creation.
Eventually, MAMA will have proof of value from its backing by metaverse and gaming infrastructure on top of the stable coins as the treasury grows over time.
There are two main approaches for market participants: staking and bonding. Stakers stake their MAMA tokens in return for more MAMA tokens, while bonders provide LP or DAI tokens in exchange for discounted MAMA tokens after a fixed vesting period.
As we grow our treasury reserve over time, we aim to add different Metaverse and Defi Gaming LP tokens for bonding.
The main benefit for stakers comes from supply growth. The protocol mints new MAMA tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in MAMA and thus the bonder's profit would depend on MAMA price when the bond matures. Bonders benefit from a rising or static MAMA price.
MAMAVERSE was ideated by a group of crypto and digital art enthusiasts to pay tribute to all the loving Mamas around the world for their unconditional love.
Our team consists of blockchain wizards, real estate professionals, startup founders, tech consultants, engineers, artists, and architects.
MAMAVERSE is currently working actively at becoming a Decentralized Autonomous Organisation. Decisions are initially taken by the core team first, but we expect to transition into a DAO-governed model ASAP whereby decisions are formed by community members on the forum and made by token holders through snapshot voting.
Last modified 1yr ago