Description
Kermit Finance is a crypto project that revolves around the provision of a decentralized reserve currency protocol available on the Avalanche blockchain. It utilizes KERMIT as its native token, which is backed by a basket of assets (e.g., AVAX, MIM, etc.) in the Kermit Finance treasury, offering an intrinsic value that it cannot fall below. Kermit Finance aims to introduce various economic and game-theoretic dynamics into the market through staking and minting. Staking allows KERMIT token holders to earn rebase rewards, reflecting in their balance growth over time, while minting involves the creation of new KERMIT tokens by locking up collateral into the treasury, which in turn backs the value of KERMIT. This approach is designed to create a financial ecosystem that encourages stability and growth, leveraging DeFi strategies and mechanisms to ensure the protocol's sustainability and encourage user participation. The project underscores features such as high APY rewards for stakers and a decentralized governance model, where KERMIT holders can vote on proposals affecting the protocol's future direction, thereby embodying the principles of decentralized finance within its core fu...
Kermit Finance is a crypto project that revolves around the provision of a decentralized reserve currency protocol available on the Avalanche blockchain. It utilizes KERMIT as its native token, which is backed by a basket of assets (e.g., AVAX, MIM, etc.) in the Kermit Finance treasury, offering an intrinsic value that it cannot fall below. Kermit Finance aims to introduce various economic and game-theoretic dynamics into the market through staking and minting. Staking allows KERMIT token holders to earn rebase rewards, reflecting in their balance growth over time, while minting involves the creation of new KERMIT tokens by locking up collateral into the treasury, which in turn backs the value of KERMIT. This approach is designed to create a financial ecosystem that encourages stability and growth, leveraging DeFi strategies and mechanisms to ensure the protocol's sustainability and encourage user participation. The project underscores features such as high APY rewards for stakers and a decentralized governance model, where KERMIT holders can vote on proposals affecting the protocol's future direction, thereby embodying the principles of decentralized finance within its core fu...
