SamoDAO is a decentralized reserve currency platform on Binance Smart Chain. Unlike DAI or USDC, which are pegged to the value of the U.S. dollar, SamoDAO's reserves are held by the SamoDAO Treasury.
SamoDAO is a part of DeFizer.io ecosystem.
SamoDAO is a free-floating currency backed by our treasury supply of the stablecoin BUSD. samoDAO tokens can’t be minted or burned by anyone except the protocol. The protocol only does so in response to price. Each samoDAO token is backed by at at least 1 BUSD. If samoDAO Token ever trades below 1 BUSD, the protocol buys back and burns samoDAO tokens, pushing the price back up to 1 BUSD. There is no upper limit imposed by the protocol to the potential trading price of samoDAO token.
The samoDAO token is backed by BUSD, not pegged to it. This allows the samoDAO token to achieve a stable floating value, while never falling below the value of its backed assets. The token price is designed to equal (1 BUSD + Premium), with "premium" reflecting market value.
The samoDAO token also expands its treasury through bonds. Bonds are sold by the protocol for different assets, and in return the buyer receives samoDAO token at a significantly discounted price. This increases the treasury and enables us to produce incredible yields for our users.
