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NoahArkDAO, what is it?

Jan 25, 2022
4.90 (667 votes)

NoahArkDAO, what is it? The decentralized reserve currency, discover its characteristics and direct access to the official website.

Noaharkdao

NoahArkDAO is a stablecoin like USDT and USDC which have become an integral part of the Crypto space.

NoahArkDAO is a fork of Olympus on multi-chain, starting from Avalanche.
Designed to provide backup for Game-Fi crypto with stablecoins and Proof of Liquidity.

Purpose and advantage:

It is used to store non-volatile value, which will keep the same amount of purchasing power from one day to the next. Unfortunately, this is not how the U.S. dollar works. The Federal Reserve controls the minting of the U.S. dollar, and its fiscal policies have consistently led to the depreciation of its currency. This means that a dollar today is worth more than a dollar tomorrow.

The goal is to build a policy-controlled currency system, in which the behavior of the NRK token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that NRK can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

NoahArkDAO, how to participate and take advantage of its benefits?

There are two main strategies for market participants: staking and bonding. Stakers stake their NRK tokens in exchange for other NRK tokens, while bonders provide LP or DAI tokens in exchange for NRK tokens at a reduced price after a fixed vesting period.

The main benefit for stakers comes from supply growth. The protocol mints new NRK 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 NRK and thus the bonder’s profit would depend on NRK price when the bond matures. Bonders benefit from a rising or static NRK price.

Direct access to the official website

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