Happening June 22nd, MahaDAO will launch the world’s first valuecoin on Polygon, called ARTH, according to the company.
ARTH, the asset, will debut on the Polygon network. The Polygon network was selected based upon three simple reasons: It fully benefits from Ethereum’s network, it is secure and it is open and powerful.
Polygon is an Ethereum-compatible protocol and architecture that builds and interconnects blockchain networks. The network brings together scalable Ethereum solutions to support a multi-chain Ethereum ecosystem.
Following the launch in the near future, ARTH, a fractional reserve stablecoin entirely backed by collateral, will be further implemented on Ethereum, Binance Smart Chain (BSC), and other blockchain networks.
MahaDAO Brings New Value to Polygon
Unlike other stablecoins like USDT and USDC, ARTH’s value is determined by the asset’s underlying buying power rather than its price.
Other than being backed by the US dollar (USD), as is the case with fiat-pegged stablecoins, ARTH is backed by a basket of uncorrelated assets that includes 5% bitcoin, 15% gold, and 80% fiat.
MahaDAO will allow users to farm its new collateral-backed stablecoin after it launches on June 22nd, paying with MAHA and ARTHX tokens in return. Top decentralized platforms like SushiSwap, DFYN, and others will offer ARTH farming.
Early miners reach higher rewards due to MahaDAO’s exponential distribution program designed to promote liquidity farming. Miners also earn interest on ARTH tokens by staking ARTH and earning an interest, through MahaDAO ARTH Savings Rate program.
ARTH and ARTHX are Coming
ARTHX is a deflationary token designed to absorb the volatility of ARTH and ensure its stability. While MAHA is the protocol’s native governance token.
Holders of MAHA tokens are entitled to redistribute ARTH’s non-correlated basket of assets – i.e. reduce the percentage of fiat while increasing that of bitcoin.
The ARTH target price is determined by a basket of stable assets…