Tokens
Learn about the tokenomics of the MyBricks 2.0 ecosystem and its seigniorage protocol.
Last updated
Learn about the tokenomics of the MyBricks 2.0 ecosystem and its seigniorage protocol.
Last updated
The MyUSD token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain MyUSD's peg to $1 BUSD in the long run.
There will be 4 main use cases for the MyUSD: 1- Use MyUSD to provide liquidity in our Liquidity Pool (LP) to earn MyUSD rewards. 2- After the first 2500 ROCKS NFTs are minted, the only acceptable currency to mint ROCKS will be MyUSD. This alone will create great utility for the token and will absorb a tremendous, if not all, amount of selling pressure. 3- The only token used for buying or selling ROCKS on our NFT Marketplace once launched, will be MyUSD. 4- Use MyUSD for bookings on any property from the MyBrick's Portfolio and get up to 25% discount. Right now MyUSD can already be used in Liverpool and Manchester. The project plans to expand to other major cities around the globe, bringing even more value to the community.
Note that the MyUSD actively pegs via the algorithm, it does not mean it will be valued at 1 $USD at all times as it is not collateralised. MyUSD is not to be confused with a crypto or fiat-backed stablecoin.
Note: A 20% sell tax is applied to MyUSD to support the protocol, deter whale manipulation, and discourage scalp trading (price speculation).
MyRocks NFTs (ROCKS) are one of the ways to measure the value of the MyBricks 2.0 Protocol and tokenholder's trust in its ability to maintain MyUSDollar (MyUSD) close to peg. During epoch expansions the protocol mints MyUSD and distributes it proportionally to all NFTs holders who have staked their ROCKS in the Boardroom.
ROCKS holders have voting rights (governance) on proposals to improve the protocol and future use cases within MyBricks 2.0's ecosystem.
Our NFTs (ROCKS) have a maximum total supply of 7777 unique cryptographic tokens.
DAO Allocation: 77 ROCKS (≈1% of total supply)
Team Allocation: 777 ROCKS (≈10% of total supply)
The remaining 6923 ROCKS (≈89% of total supply) are allocated for Minting by investors at the floor price of $500 USDC.
MyBond (BOND) main job is to help incentivise changes in the MyUSD supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of MyUSD falls below $1, Bonds are issued and can be bought with MyUSD at the current price. Exchanging MyUSD for Bonds burns MyUSD tokens, taking them out of circulation (deflation) and helping to get the price back up to $1. These Bonds can be redeemed for MyUSD when the price is above peg ($1) in the future, plus an extra incentive for the longer they are held above peg.
Contrary to early algorithmic protocols, MyBond (BOND) does not have expiration dates.
All holders are able to redeem their Bonds for MyUSD tokens as long as the Treasury has a positive MyUSD balance, which typically happens when the protocol is in the epoch expansion period.
