Divine Creatures DAO developed a decentralized reserve currency protocol based on the $EGIS token. Each $EGIS is backed by FTM-denominated assets (e.g. FTM) in the Divine treasury, giving the token an intrinsic value that it should not fall below. With persistent volatility in the market, $EGIS purchasing power will be constant.
Divine Creatures DAO has two main visions.
First is to innovate project launches. We will employ auction of NFTs that carry IDO allocations, combined with a lottery. The NFT auctions will be spread out over several days, spanning all time zones, so that everyone anywhere could take part.
Secondly, Divine Creatures DAO aims to create the ultimate ‘treasury of treasuries’ by backing in part by other treasury tokens, e.g wMEMO. Plethora of treasuries we trust, why not combine them?
EGIS aspires to become an algorithmic reserve currency backed by other decentralised assets and other reserve currencies. Similar to the idea of the gold standard, EGIS provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves EGIS draws its intrinsic value from.
EGIS token can be purchased from a presale via NFT auction and from SpiritSwap on FTM chain.
We will be conducting an NFT auction. We will be selling over 500 NFTs of three tiers. Each NFT will carry a pre-sale allocation of our token. Each NFT will also enter into an automatic intra-tier lottery. The lottery prizes range from 25% allocation size increase up to free allocation (i.e. airdrop, which will be 10% of all NFT purchasers). Proceeds from the auction and our pre-sale will be used to cover the launch costs and for initial liquidity that is going to be locked.
We will be launching on other chains as well, which will be accompanied by other auctions and will carry a different functionality than INO(Initial NFT Offering).
Staking is the primary value accrual strategy of Divine Creatures DAO. Stakers stake their EGIS tokens on Divine Creatures DAO to earn rebase rewards. The rebase rewards come from the proceed from bond sales, and can vary based on the number of EGIS staked in the protocol and the reward rate set by monetary policy.
Bonding is the secondary value accrual strategy of Divine Creatures DAO. When users purchase EGIS tokens, they are actually selling their assets in order to buy a bond from the protocol. Bonding Actions are a cross between a fixed income product, a futures contract, and an option. The protocol quotes the bonder with terms for a trade at a future date. These terms include a predefined amount of EGIS the minter will bond and the time when vesting is complete. The bond becomes redeemable as it vests. I.e. in a 5-day term, after 2 days into the term 40% of the rewards can be claimed.
Divine Creatures was created by 7 anonymous users and developers of DeFi 1.0 and DeFi 2.0. We have diverse backgrounds ranging from bankers, scientists, and lawyers to experienced blockchain developers that built bridge projects and created money accruing strategies for professional trading desks.