Goldma rebrands to Goldma DAO!

What is GOLDMA DAO?

GOLDMA DAO is a decentralized reserve currency protocol based on the GMA token. But, what is a DAO? A decentralized autonomous organization, or DAO, is a blockchain-based form of organization or company that is often governed by a native crypto token. Anyone who purchases and holds these tokens gains the ability to vote on important matters directly related to the DAO. They typically use smart contracts in place of traditional corporate structures to coordinate the efforts and resources of many towards common aims. These are self-executing computer programs that carry out a particular function when certain conditions are met.

What is the aim of Goldma DAO?

The native currency of Goldma, GMA will serve as a reserve currency backed by assets owned and maintained by it’s truly decentralized, autonomous protocol. GMA token is backed by a basket of assets (e.g. USDC, DAI, FRAX, and etc) in the GMA treasury, giving it an intrinsic value that it cannot fall below. Goldma is a fork of the Olympus Dao and Hector Dao whose smart contract is deployed on the Polygon platform introducing a unique economic and game-theoretic dynamics into the market through staking and bonding. This also enables Goldma to own almost all its own liquidity which is known as “POL” or Protocol-Owned-Liquidity

In addition, Goldma DAO proposes to align its goals, principles and values with The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries — developed and developing — in a global partnership. Goldma also recognizes that ending poverty and other deprivations must go hand-in-hand with Goldma’s wealth building strategies which simultaneously improves health and education, reduce inequality, and spur economic growth — all while tackling climate change and working to preserve our oceans and forests.

Uniquely, GMA which is backed by USDC, DAI, and other digital and real assets owned by the reserve treasury; will function in a manner, so as to incentivize those who are interested in aligning with The UN 2030 Agenda for Sustainable Development.

Operating in a very similar way as Olympus DAO and Hector DAO: when GMA trades below DAI or, the protocol will buy back and burn GMA, increasing its price to at least 1 DAI. This means that GMA will always be worth equal to, or more, than DAI.

Goldma DAO aims to become the de-facto reserve currency of the Polygon platform and other blockchain platforms, one which is truly owned and maintained by a decentralized protocol which serves the majority and aligns with The UN 2030 Agenda for Sustainable Development.

How to participate in Goldma DAO

There are two main strategies for investors: staking and bonding. Stakers stake their GMA tokens in return for more GMA tokens, while bonders provide LP or DAI tokens in exchange for discounted GMA tokens after a fixed vesting period.

Decisions will be made via snapshot, using sGMA as a voting token. Holders of sGMA can vote on proposals brought forward by the team, or bring their own proposals to a vote. Goldma’s ambitions can only be reached with the help of each member of the community

Creating Value

The protocol generates value through Bonds and Staking.

Bonding

Bonding is one of the ways in which GOLDMA DAO generates profits while also tackling climate change by offering bonding with BCT tokens, in the official launch. The protocol will sell bonds of other tokens like DAI for discounted GMA tokens, which will then be vested for gradual release to the bonding party. This allows full-time investors to actively manage their GMA portfolio and generate significant rewards over time whilst also supporting the growth of the GOLDMA DAO by financing its liquidity and facilitating more upwards price movement.

Staking

Staking is an integral part of the GOLDMA DAO. Investors will stake their GMA, locking it into the ecosystem and receiving compounding rewards in sGMA (which will always be exchangeable for GMA at a 1:1 ratio) generated by bond sales. Over time, the amount of GMA owned by stakers will increase, bringing more profit and reducing exposure risk. Staking GMA becomes less risky and more profitable over time since an increasing share of GMA will protect investors from negative price action, and given that the protocol ensures a price floor of 1 GMA per USDC, staking for long enough will guarantee profit.

Staking locks your GMA and gives you an equal balance of sGMA, which compounds automatically. To unstake, sGMA is burned for an equal balance of GMA.

How will Goldma DAO launch?

GOLDMA DAO will officially be launched on Feb 2, 2022 on Polygon.

Is GMA still worth buying after initial growth?

Once GMA is staked, your balance will increase with the circulating supply, meaning, even if you miss out on a lower price, your GMA balance will increase due to the staking protocol. Therefore, you will be generating a staking income, reducing your risk, even at a higher price.

Has GOLDMA been audited?

GOLDMA will be audited by Certik. More updates will come soon!

What is the relationship between OHM, HEC and GMA?

GMA is a ‘spoon’ (a fork which develops into its own unique system, and prefers cooperation over competition) of OHM and HEC built on the Polygon network, allowing it to utilize the speed, security, scalability and low gas fees that Polygon offers.

Goldma.io an ICO backed by a fully functional Gold Mine