Crypto

Meet Persia DAO – The Decentralized Reserve Currency On a Mission to Overhaul Stablecoins 

persia dao is building a olympus-inspired reserve currency for the binance smart chainpersia dao is building a olympus-inspired reserve currency for the binance smart chain

 

In the realm of cryptocurrencies, volatility is part of the game. Bitcoin is downright notorious for massive value swings.

An alternative is offered by stablecoins – though they may as well be called dollar coins. These currencies are some of the most popular assets in DeFi. Even though they boil down to being a digitized version of the USD. 

In November, crypto investors were circulating a whopping $89 billion USD in stablecoins. 

However, this type of cryptocurrency has several glaring weak spots – inflation being the most problematic of them. Just like regular savings in a bank, the value of stablecoins changes in tune with the US economy. And that in turn depends on the Federal Reserve and US government policies.

Persia DAO sets out to tackle this problem, by providing stability. At the same time, it seeks to maintain a market-driven, floating price that offers room for flexible investments and gains.  

What is Persia DAO? 

Persia DAO is a decentralized reserve currency protocol based on the Binance Smart Chain (BSC).  

Its developers drew inspiration from Olympus DAO and its OHM token, which operate as a reserve currency. Rather than keeping the token at $1 artificially (essentially backing each token with dollars), OHM-style reserve currency tokens have a treasury – a basket of stablecoins that backs them. 

The important bit about this is that the tokens can easily become worth more than this backing value, but never less. Unlike other reserve currencies currently making their debut, though, Persia DAO is not a simple OHM fork, but a separate project. 

BSC forms a great a basis for Persia since it provides a solid intermediary between DeFi needs and real-world financial operations. The project’s developers work in partnership with FRAX Finance, a well-established stable coin. 

Community-Driven Power

One of Persia DAO’s strongest suits in comparison to many alternative currencies is its thorough grounding in a close-knit community. 

Its protocol is entirely community-owned and the opinions of community members factor into any major decisions. 

Overall, Persia has almost 3000 active Discord members, as well as 2000 followers on Twitter. This is particularly impressive since the development of the currency is very recent, with its app, platform, and community taking roots within the last month. 

Part of the driving force between Persia’s massive growth spurt was its community building Airdrop that offered incentives for community-building supporters across Telegram, Twitter, Discord, and Medium. 

Persia DAO Tokenomics and Presale 

On December 8, Persia DAO is launching its pre-sale, pricing 1 PERSIA at 50 FRAX. Overall, 20,000 PERSIA will become available, which translates to a cap at $1,000,000. 

The launch is taking place on ANYPAD, a certified Crypto incubator platform. Not only does this minimize the risk of rug pulls. It also allows select users to buy 20% of the tokens, with the rest available for purchase by whitelisted Persia DAO members. 

As for the Persia team, they will have the option of buying up to 6000 PERSIA in total. And: they must hold it for at least 6 months. 

The backing assets are locked in, making treasury withdrawals impossible. Currently, they include include FRAX and BUSD and may later expand to USDT, DAI, and other stablecoins.

Conclusion 

With stablecoins holding steady in terms of popularity but offering little room for profit and even less flexibility, decentralized reserve currencies are an exciting alternative. 

They combine security and flexibility, and provide investors with opportunities for growth. 

Community-based projects like Persia DAO can be great investment options for circumspect early investors. 

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