Snowbank

Snowbank

Created using Figma
Created using Figma
$SB is a decentralized reserve currency that remains unbound by a peg. Solving liquidity ownership. Vanilla OHM with a twist.
  • Market
    Pair
    Price
    Volume 24H
    24H (price)
    24H (volume)
  • Trader Joe
    SB/0XB31F66AA3C1E785363F0875A1B74E27B85FD66C7 one day ago
    $ 224.68
    $ 3.562 K
    2.33%
    -12.26%
  • Trader Joe
    SB/0XD586E7F844CEA2F87F50152665BCBC2C279D8D70 5 months ago
    $ 316.87
    -
    -
    -
  • Trader Joe
    SB/0XB54F16FB19478766A268F172C9480F8DA1A7C9C3 5 months ago
    $ 573.01
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    -
    -
To be announced
Token Details
Ticker
SB
Additional Details
Categories
Platform

About Snowbank

Snowbank DAO is the decentralized reserve currency protocol available on the Avalanche Network based on the SB token. Each SB token is backed by a basket of assets (e.g., MIM, SB-AVAX LP Tokens etc etc) in the Snowbank DAO treasury, giving it an intrinsic value that it cannot fall below. Snowbank DAO also introduces economic and game-theoretic dynamics into the market through staking and minting.

Our goal is to build a policy-controlled currency system, native on the AVAX network, in which the behavior of the SB token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that SB can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation. We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world!   There are two main strategies for market participants: staking and minting. Stakers stake their SB tokens in return for more SB tokens, while minters provide LP tokens or MIM tokens in exchange for discounted SB tokens after a fixed vesting period.   The main benefit for stakers comes from supply growth. The protocol mints new SB tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in SB tokens and thus the minter's profit would depend on SB price when the minted SB matures. Taking this into consideration, minters benefit from a rising or static price for the SB token!   Snowbank DAO is a fork of Olympus on the Avalanche Network. Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.

Activity

Followers:
31 239
VERY HIGH
Tweets:
174
MEDIUM
30 Days Growth:
-352
Members:
2 061
MEDIUM
30 Days Growth:
-94
Year commits:
110
Watchers:
1
Stars:
14
Forks:
41
Open issues:
2
$ 223.01
-0.81%
Crypto Stats
Daily, %:
-0.81%
Weekly, %:
1.44%
Monthly, %:
3.50%
Market Info
Market Cap:
$ 35.651 M
Volume 24h:
$ 1.783 K
Circ. Supply:
159.64 K SB
Ticker:
SB
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