Diatom is a decentralized currency that grows more valuable as our ocean is measurably restored and protected. Members of the DAO vote on projects that restore ocean health and expand our buying power to do so.
Diatoms are algae in oceans, lakes and waterways that are responsible for sequestering carbon and provide 50% of all the oxygen that we breathe on earth.
Each DIAT is backed by a minimum of 1 DAI. This means no matter what happens, you will always be able to sell your DIAT for at least 1 DAI. As our treasury grows, this number will also increase.
Unlike most other protocols, Diatom will own the majority of its LP’s by selling bonds of discounted DIAT in exchange for LP tokens. This prevents reliance on mercenary liquidity providers, and allows the treasury to be continually bolstered by LP fees.
As a DAO, Diatom is owned and directed pro-rata by DIAT holders. Any action or change to the DAO is discussed and voted upon by token holders. This ensures the DAO’s actions benefit all, and not just one small party.
We're launching the first ever tokenized plastic credit. Plastic Removal Credits (PRC) are tokenized representations of plastic removed frrom key ecosystems that threaten overall ocean health.
We sell bonds of discounted DIAT for ETH, DAI and other tokens in order to build up our DAO treasury. The treasury is used to back DIAT with intrinsic value (like how gold used to back the Dollar).
Having a large treasury allows us to provide and own 99%+ of our liquidity pools (LP's) on exchanges. That means every single trade of DIAT pays liquidity fees back to our treasury.
All DIAT holders can 'stake' their tokens for 3X daily compounding yield. This is good for holders, since they get an incredible interest rate for holding, and it's good for the DAO, since fewer people selling equates to increased DIAT value.
Unlike many other DAO's, we have a mission: to protect the ocean! We're using treasury funds to invest in highly-vetted ocean protection & cleanup projects. Some will be donations, and others will be high-yield investments that also serve to build up our treasury value.
