Singapore, Singapore--(Newsfile Corp. - November 29, 2021) - MetaversePro, a fork of Olympus DAO, is launching a metaverse reserve currency. It is built to operate on BSC.
The Value Proposition of MetaversePro
Over the past year, numerous projects took off on BSC, covering everything from NFT sales to GameFi and DeFi solutions. As the developers of MetaversePro see it, GameFi offers the most natural entry point for a metaverse reserve currency.
For that reason, one of the key goals of the project is to provide GameFi developers with the support they need to build and launch new projects. It plans to offer itself as a platform for launching new assets, purchasing necessary GameFi infrastructure (like NFTs, NPCs, and Tokens), and securing startup funding.
By building relationships with GameFi projects at their inception, MetaversePro hopes to gain a foothold within the worlds they create. The idea is to speed the adoption of the META token across as many GameFi projects as possible, thus uniting them all together into a single coherent metaverse economy. And to get there, MetaversePro is already beginning to lay the necessary financial groundwork.
How MetaversePro Works
Because MetaversePro is a fork of Olympus DAO, it shares many of its core tokenomics. These include:
Each META token is backed by a deposit of $1 worth of BUSD, which is the predominant stablecoin on BSC today.
Only the protocol itself may mint new META, and the process is autonomous.
The protocol will act to maintain price parity by issuing new META or repurchasing and burning META as needed.
META has no rebase mechanism, and all new tokens go straight into circulation and repurchases come directly from the open market.
By putting those mechanisms to work, MetaversePro maintains the stability of META. But that's not all it has in common with Olympus DAO.
MetaversePro also makes use of protocol-owned liquidity (POL), which is one of the major innovations introduced by Olympus DAO. It's a mechanism whereby the platform owns the assets that guarantee its liquidity. Because those assets earn liquidity pool fees, the platform's liquidity is self-perpetuating.
On top of that, MetaversePro also functions as an investment vehicle through its staking system. In it, holders of META can stake their assets to generate long-term passive income. And those investments receive protection from the automatic rebalancing of the currency's value.
Connecting to the Metaverse
There's one more major function of MetaversePro that it shares with Olympus DAO. It features a bond issuing system that serves as the main income source for its treasury. And in MetaversePro's case, it's the way the platform will integrate with existing and upcoming metaverse projects. The platform is capable of issuing flexible-term bonds to meet the needs of individual projects, all while delivering profits back to the treasury.
Because MetaversePro is a community-driven project, the bond rates are set by the platform's stakeholders. That means that participants have an active say in how the bond issuance system works and how much profit it will produce for the platform as a whole. To start, MetaversePro will offer two primary bond types, which are:
Together, the two bond types make it possible for users to secure the capital needed to meet launchpad requirements, carry out NFT drops, or satisfy MetaversePro Whitelist roles.
The Road to Launch
MetaversePro has already published a roadmap that puts it on track to complete its launch next year. And it has a substantial head start over any potential competitors. Because it's based on the smart contracts that power Olympus DAO, the developers didn't have to build the platform from scratch. And that also means that the code that will power MetaversePro is already vetted and known to work as intended with no security vulnerabilities.
For that reason, the developers expect to have the platform's DAO online before the end of this year. They also expect to initiate the platform's first two long-term investments and increase the platform's bond offerings to a total of four or five types. Those milestones should lead into 2022, during which the developers intend to launch the platform's lending function and launchpad, as well as to conduct an NFT drop.
Company Name: Metaverse Pro
Contact Name: Hasan Saleem
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105567