Moonbird would like to introduce ‘Smartbird’, an algorithmic reserve currency protocol.
The Moonbird ecosystem is about to take off with the addition of our Smartbird protocol. We are so excited to bring bonding and protocol-owned liquidity into the Moonbird world. This will be achieved by our new algorithmic reserve currency protocol Smartbird.
What is Smartbird?
Smartbird is a decentralized infrastructure, building a reserve currency (SBIRD) backed by prominent stablecoins and safe assets.
Smartbird is essentially a fork of ‘OlympusDAO’ protocol on Ethereum but with a few Moonbird twists. After seeing the great success of other OHM forks on other chains and noticing that there is a lack of quality OHM forks on BSC we’ve decided to establish our own version Smartbird.
Smartbird’s native token will be SBIRD and this will be used for interacting with our staking and bonding features.
How does Smartbird work?
Each SBIRD token will be backed by 1 BUSD in the treasury. It is backed not pegged, this means that the SBIRD price can fluctuate way above 1 BUSD. When SBIRD falls below 1 BUSD the protocol is programmed to not mint any new SBIRD tokens to allow it to return to the backing. Every time there is a buy, sell, or bonding the protocol will receive profits into the treasury. The treasury will be used for yield farming and profits from the yield farming will be divided into two, 50% of the profits will return to the treasury and the other 50% will be used to buyback and burn MBIRD.
What does Smartbird aim to achieve?
- A fully decentralized reserve currency protocol.
- Bring high yields through staking and bonding.
- Add depth to the Moonbird ecosystem and add value to MBIRD token.
- Fully decentralized DAO leaving future decisions of the protocol left to the community.
- Increase our charity donations.
- To grow consistently regardless of any external factors or current market conditions.
- Buyback and burn MBIRD with the SBIRD treasury through yield farming rewards.
Should you hold SBIRD, bonds, or sell SBIRD?
The best thing for Smartbird is for investors to hold and stake. This will produce the greatest gain for everyone. The effects of the user’s action can be shown in the (3,3) and (1,1) dilemmas. Currently, there are three actions an investor can take: Staking/Buy (+2), Bonding (+1), and Selling (-2) and when combined with other investors’ actions the effects are amplified. This makes HODLing the primary focus!
The graph below demonstrates the positive-sum environment created by community cooperation.
We envision Moonbird and Smartbird to have everlasting success and want to work in coercion with the community to create profitable outcomes for all. It falls into a will that needs strong support from the community, beneficial governance proposals, relies on investors to stake and remain staked, trust what the protocol is designed to do which is own its own liquidity and return consistently high yields.
SmartBird follows the OMH tokenomics closely
- Each SBIRD is backed by 1 $BUSD
- 50% of the treasury profit generated through yield farming will be used to do a buyback and burn of MBIRD
- The remaining 50% of the generated profits from yield farming will be added to the treasury
How will Moonbird and Smartbird interact?
The MBIRD will act as the governance token for the whole Moonbird ecosystem. The MBIRD governance will choose how to allocate SBIRD bonds and where to focus our treasury yield farming. Proposals and changes can be made through governance voting. So basically MBIRD holders will be able to pick the best yield farming strategies and assets for the treasury through governance. As well as determining which charity will receive our donation every 3 weeks. Smartbird will essentially make MBIRD a hyper deflationary token through its treasury buyback and burns as well as the combination MBIRDs token economics (1% of every transaction will be burned)
What will follow?
The future will be full of opportunities for the Moonbird ecosystem. The addition of Smartbird will bring in new investors and wealth into Moonbird and we will start to open up to community proposals through our DAO system. Proposal topics might focus on what developments we should make next with the treasury funds, should we change the focus of the treasury, or if we should use it to yield somewhere and distribute profits. The options are really endless.
Launch details of our Smartbird protocol will be provided soon. Stay tuned on all our socials to keep informed.