Dank Protocol
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Dank Protocol

Dank DAO | A New Crypto Tribe

Come for the tribe, stay for the tribe

Dank DAO
Dank DAO

Since the launch of Dank Protocol last October, we met many crypto enthusiasts from various countries and regions across the world. Everyone gathered because of the common beliefs. We saw different cultures and ideas collide with each other, as well as the spark of innovation. We have gained wisdom and friendship, while Dank is also becoming more and more like a tribe that spans nations. At present, the crypto world grows steadily as usual, in the meanwhile, we are promoting a new crypto order to benefit the world. This new order is a more fair, free and democratic new financial system. Although conflict is inevitable, we remain optimistic about the future!

Chapter Alpha: Cultural Order

Mission

Dank DAO is a stable return and income hedging DAO based on Ethereum, which aims to enable more people to obtain stable value and deterministic benefits from the crypto world.

Vision

  • Promote true crypto financial applications through the power of the community
  • Decentralization, transparency, collaboration, new forms of incentives
  • Get rid of the constraints of traditions and welcome the talents from all over the world.

With the arrival of the trend of Web3, we arrived in the crypto world by coincidence, adhering to a common philosophy and creating a truly community-inspired financial system.

As a crypto tribe, we hope to form our tribal culture, including totems, stories, symbolic systems and crypto narratives. Meanwhile, we hope to make people have more fun in new ways. Therefore, we focus on the following directions as the primary work of community:

  1. Build a community identity system and incentive system to achieve community self-operation
  2. More narrative with games and memes
  3. To build totems, symbols and narrative systems, we have to speak for ourselves
  4. No damn REGULATIONS, everyone has fun, we’re going to do something meaningful

Dank Tribe is made by four major tribes & Tribal Round Table, which the four tribes are Tribe of Growth, Tribe of Production, Tribe of Logic, and Tribe of Guard. Order is the new social structure of managing tribes. Each order will adhere to certain principles and manage different areas of the tribe. Members will need to choose the order that resonates with them. These four orders are the founding structure of the tribe and the early core of the community will be built around these four orders!

The construction of the tribe will be divided into four stages:

  • Construction
    This stage is the initial stage, which the server will be reconstructed and organized to ensure the promotion of tribal governance. Basically, building the initial tribal framework is the foundamental work.
  • Soaring
    The will focus on cultural construction, including the construction of totems, the construction of tribal culture, the formation of crypto narrative and the large-scale expansion of the tribe!
  • Order
    The tribe will begin to perfect the stable order to stabilized the community and optimize in all aspects according to tribal feedback!
  • Flywheel
    Start building the sea of mysteries.

Each tribe has different functions and responsibilities, covering major projects and operations of the tribe. For more details about roles and functions, please read Dank Tribe Discord Roles

Dank DAO Discord Server

Chapter Bravo: Monetary Order

We think DeFi 3.0 is a self-motivation model, which can release capital efficiency to promote decentralized governance of DeFi. Therefore, we are now promoting the next version of Dank — — Dank 2.0

The core change of Dank 2.0 is the innovation of enhancing the capital utilization, by expanding the utilization to achieve arbitrage loops and improve leverage effect. Meanwhile, establish new incentives to capture and retain users. Through Dank itself to support the financial applications, and guide liquidity to maximize its capital efficiency!

Floating Rate Market

Dank is a permission-free open-source lending protocol based on Ethereum smart contract. As a decentralized bank, Dank precipitates the retained funds of users through the protocol and bring more financial benefits.

For more details, please visit: Docs

Fixed Rate Market

Dank’s Fixed Rate Market is an open source fixed interest rate protocol based on the Dank lending protocol. On the basis of the floating rate of Dank protocol, it innovatively adopts a fixed interest rate controlled by an algorithm mechanism. Users will have a more diversified profit portfolio.

Dank’s Fixed Rate Market is the best tool for users to obtain stable risk exposure. In the Market, holders with interest-bearing tokens will have chances to gain additional profit and lock in their future earnings in advance. Meanwhile, it allows trader directly access to the future profit without using underlying collateral.

Full Routing of Fixed Rate Market

For more details, please visit: Docs — Fixed Rate Market

The financial model of Dank is a self-motivation model, which consists of:

  1. Underlying Market:
    Floating Rate Market + Fixed Rate Market
  2. Protocol Self-driven Incentive Model:
    The incentive token is DANK, which is generated by protocol mining. Most of the DANK will supply for users as incentives. A small portion of DANK will be deposited into Dank DAO’s vault as a reserve, which will be used to adjust the supply and value of DANK.
  3. Dank DAO’s Vault:
    The protocol will charge a portion of transaction fees and mining fees as protocol’s income, when user uses the underlying protocols and tools for arbitrage. This income will be stored in the vault and provide a supply of value to Dank.

Chapter Charlie: Future Narration

The core development team of Ethereum is currently working on a major upgrade to ETH 2.0. It involves redesigning the entire Ethereum platform and effectively launching a more scalable version. The version is scheduled to begin in the summer of 2020 and may take one to two years to run until all three phases are completed. Part of the content of ETH 2.0 involves the conversion of Ethereum from PoW to PoS.

In essence, the stakings will encourage the node to hold as much ETH as possible and use it to verify the transaction. The more nodes, the faster and more secure of the network will run. For investors, the motivation of staking comes from systematic incentives, which is similar to earn interest from bank saving. The return on investment varies depending on network performance and usage, which is expected to be up to 10%.

In the environment of low interest rates around the world, the interest-bearing mechanism of holding ETH will definitely attract the crowd to participate in staking without doubt. The staking could become world class application, making Ethereum an “Positive Arbitrage Asset”. Unlike the storage cost of owning gold, owning Ethereum will obtain positive returns. In the long run, this will stimulate the market demand of Ethereum and attract investors to borrow assets to buy in order to earn interest difference. In other words, positive returns will improve the stability of Ethereum prices and expand the base of long-term holders and investors.

However, the staked assets can not release the maximum asset efficiency. In Dank, users obtain Staking Token (sETH) by depositing collateral in various staking protocols. Those tokens represent the future redemption rights of principal and revenue. Lido, Rocket and other staking protocols are based on variable staking revenue protocols, which can not guarantee the exact future returns. In order to hedge against the revenue fluctuations and maintain the expectations of stable income, Dank’s Fixed Rate Market Protocol is created.

Dank’s Fixed Rate Market is becoming a perfect capital diversification solution. Releasing the financial efficiency of the underlying assets through income differentiation, allowing protocols, DAOs and organizations to obtain fixed rate income from capitals. Meanwhile, keeping the margin of capital safety and the ability to exit if necessary. It will bring more diversified fund managing solutions and composability to protocols and DAO communities.

Metaverse Infrastructure

DeFi provides an open finance that fits the shared characteristics of the metaverse. It can provide financial services, including transactions, loans and insurance, to help reduce the creation costs and work realization costs of metaverse’s player.

Based on the lending protocol and fixed rate protocol, DANK strives to build the basic financial services facilities of metaverse. Working to provide permission-free services for metaverse’s crypto user, expand the asset boundaries of metaverse, and maintain the positive operation of metaverse economy!

Bankless inclusive facilities

The DeFi of social innovation needs to really improve society and people’s lives. The lending function itself usually succeeds in lifting people out of poverty. However, many third World banks do not have the infrastructure, or banks are not open to everyone. Some of them do not have their own accounts, and many banks do not even have access to banks that can authorize loans. So there are still many people in the world who cannot access to convenient financial facilities.

For example, sub-Saharan does not have pre-deposit infrastructure banks. This is why microcredit has not yet become popular in many third world countries. But in these countries, many people has a mobile phone, and through Dank they can create their own crypto accounts without permission, lend crypto assets, protect their property and expand their productivity tools to help them get out of poverty. Let’s imagine, Dank will be able to provide microcredit to people living in third world countries in the future. This will be a great social innovation.

Come for the tribe, stay for the tribe

Sum-up

Blockchain technology is transcending the technology itself and forming its own unique political, cultural, and economical system. In this industry, we have seen lots of unimaginable innovations. A brand-new system is emerging and thriving. As a participant, we saw it goes from desolation to prosperity, and now we will build together! In 2022, Dank started small and gathered everyone’s strength to build a great future together! To build an interesting crypto tribe, and a permissionless and more democratic future of financial innovation! This is the shared vision of all members of Dank DAO!

Dank is a permission-free open-source lending protocol based on Ethereum smart contract, which aims to solve the problem of inefficiency of funds in the DeFi market and build a fixed income market. It allows any user who uses the protocol to obtain variable interest rates. It is the first to propose a forward interest rate contract swap model based on the variable interest rate market. Users can also release the forward income of d-token at any time to obtain instant fixed income. The fundamental goal of Dank is to allow all valuable crypto assets to obtain multi diversified financial services, and to create a sustainable development for scientific and financial foundation.

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