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ImmortalDAO Finance news
About ImmortalDAO Finance
Immortal is a decentralized reserve currency protocol on Celo blockchain based on the IMMO token. Each IMMO token is backed by a basket of assets (e.g. mcUSD) in the Immortal treasury, giving it an intrinsic value that it cannot fall below. Immortal also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.
ImmortalDAO is also considered an algorithmic currency protocol with the goal of becoming a stable crypto-native currency within the Celo ecosystem. Though sometimes called an algorithmic stablecoin, ImmortalDAO is more akin to a central bank since it uses reserve assets like mcUSD to manage its price. The goal is to achieve price stability while maintaining a floating market-driven price. The biggest difference between IMMO and stablecoins like USDC is that IMMO is backed but not pegged to a particular price. Technically, the price floor for IMMO is 1 mcUSD, but practically a premium and the treasury value is added to the price. IMMO differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues IMMO to buy mcUSD and other assets and maintain a treasury. This mechanism is similar to FEI; the key difference is that FEI keeps a dollar peg, and ImmortalDAO Finance allows its token to float.
The live ImmortalDAO Finance price today is $0.499384 USD with a 24-hour trading volume of $4.06 USD. We update our IMMO to USD price in real-time. ImmortalDAO Finance is down 0.01% in the last 24 hours. The current CoinMarketCap ranking is #8305, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
If you would like to know where to buy ImmortalDAO Finance at the current rate, the top cryptocurrency exchange for trading in ImmortalDAO Finance stock is currently Ubeswap. You can find others listed on our crypto exchanges page.