"Similarly to Olympus, KANDY is backed by MIM and other assets owned by the reserve treasury, and will function in a very similar way: when KANDY trades below MIM, the protocol will buy back and burn KANDY, increasing its price to at least 1 MIM. This means that KANDY will always be worth equal to, or more than MIM.
Kandyland DAO aims to become a relevant reserve currency on the AVAX network, one which is truly owned and maintained by a decentralized protocol that serves the majority. Our goal is for $KANDY to be a common trading pair which is backed by real assets.
Additionally, Kandyland DAO will focus on empowering the Gaming and Music industries within crypto through the crowd-voted, smart allocation of the treasury funds in said industries.
There are two main strategies for investors: staking and bonding. Stakers stake their KANDY tokens in return for more KANDY tokens, while bonders provide LP or MIM tokens in exchange for discounted KANDY tokens after a fixed vesting period.
Decisions will be made via snapshot, using sKANDY as a voting token. At this stage of the project, Kandyland does not have a snapshot page live. However, once we do, holders of sKANDY can vote on proposals brought forward by the team, or bring their own proposals to a vote. Kandyland's ambit...ions can only be reached with the help of each member of the community.
As mentioned previously, we want to build a treasury large enough to make a difference in the crypto, NFT, gaming, and music space! It is only with the help of a strong community that we can achieve truly decentralized, autonomous governance. "Read More