Malt Protocol V2 Launch
Algorithmic stablecoin on Polygon. Malt began approximately a year ago (in other words, it’s not a generic Tomb fork), and they are launching a V2.
No contracts.
DETAILS
- Starting supply: “around 1,000,000 MALT”
- Whitelist participants purchased MALT for $1
- Liquidity will be provided on Quickswap
- MALT is pegged to $1
- When MALT is over $1, the protocol mints MALT and sells it on the open market
- Profit from minting MALT and selling it above $1 is distributed to LP providers and to the “peg defense”
- When MALT is under $1, the protocol uses capital in the “peg defense” to buyback MALT and sells “Arbitrage Tokens” (like a bonding token) via a Dutch Auction