“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
— Satoshi Nakamoto
The core mission of Sovryn is to continue Satoshi's mission for establishing new territories of freedom by building trustless economic tools on Bitcoin. Central to accomplishing this mission is to remove the need for intermediaries or the constraints they can impose.
Bitcoin has emerged as a proven store-of-value over long time frames. However, its day-to-day volatility has limited its use as a medium of exchange or for low-risk savings. The Bitcoin whitepaper envisions BTC's use for cash and payments - Sovryn Mynt provides a path to this by overcoming the volatility problem by creating currency whose value can be reliably stable to a given peg. If the peg chosen is a fiat currency, the stablecoin can circulate as a substitute for that currency, unthreatened by need to trust intermediaries and secured by the underlying BTC value.
Each of the different systems producing stability that are part of the Mynt system produces a token. We will refer to these as "aggregates" since their primary purpose is to act as part of the collateral that will be wrapped into the B-Stable minted by the Mynt. A hypothetical example can be seen in the below diagram.
The Mynt can maintain various policies and standards regarding which aggregates are allowed to compose the Mynt pool and what weighting they should have.
Bootstrap Event Details
Bootstrap Supply: 84.25%Incentive Supply: 15.75%Bootstrap Initial MYNT/SOV ratio: 100/1
Attention. There is a risk that unverified members are not actually members of the team
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