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