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Orbit Finance – Algorithmic Stablecoin on Fantom Opera, Pegged to the Price of 1 FTM via Seigniorage
Description: Stake your ORBIT-FTM LP in the Farm to earn sORBIT rewards. Then stake your earned sORBIT in the Boardroom to earn more ORBIT! Orbit Finance is an algorithimic stable coin protocol pegged 1:1 to FTM. Inspired by Tomb Finance and previous algorithmic stable protocols such as Basis Cash. Much like Tomb and Basis our protocol uses three tokens (ORBIT, OSHARE, OBOND) to incentivize a stable 1:1 peg to FTM.
The protocol’s underlying mechanism dynamically adjusts ORBIT’s supply, pushing its price up or down relative to the price FTM. One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Orbit team will maintain a focus on innovation around enhanced functionality and use cases.
The Big Picture
The $ORBIT algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Fantom Opera Mainnet.
The protocol’s underlying mechanism dynamically adjusts $ORBIT’s supply, pushing its price up or down relative to the price of $FTM. Inspired by the idea behind the well known project on Fantom Opera Mainnet Tomb Finance, the ORBIT protocol consists of three tokens:
1. ORBIT ($ORBIT).
2. ORBIT Share ($SORBIT).
3. ORBIT Bonds ($OBOND).
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