👺Getting to Know Goblins
"Bringing DeFi 2.0 to smartBCH"
Throughout history, goblins have generally suffered a poor reputation. However, not all goblins were dim-witted or evil. Some goblins became heroes. Those goblins may have found it difficult to overcome their temper and greed, but those who did often found it could be more rewarding, in the long run, to serve good rather than to serve evil. Those that served good, often made use of their ill-gained talents as "rogues." We welcome all to join us as "rogues" in our quest to bring DeFi 2.0 to the smartBCH community.
Goblins Genesis
DeFi 2.0 began with the launch of OlympusDAO with the creation of Protocol Owned Liquidity ("POL"). DeFi 2.0 communities are formed within a chain when members bond the underlying assets into a common decentralized reserve and revenue protocol, thus creating a strong “bonding” for the whole community. Goblins is committed to bringing DeFi 2.0 to smartBCH and creating a global community that will work together to create something bigger and better for all.
DeFi 2.0
Initially, DeFi was about replicating what was in traditional finance and putting that into DeFi 1.0. DeFi 2.0 builds four additional functionalities:
There is an increased composability and capital efficiency by building on the previous layer of DeFi 1.0 applications. Developers can now come in and leverage existing code bases to be creative and create new financial tools that produce value for the economy and ecosystem at large.
Instead of relying solely on yield farming, there are alternative ways to source liquidity for protocols.
DeFi 1.0 was largely for users and DeFi 2.0 is largely for DAOs and their treasuries becoming firms in and of themselves. DAOs are starting their own markets for their coins and creating innovative applications. Incredible tools are being produced by protocol developers that allow treasuries to utilize their funds, earn yields and interoperate amongst one another.
It is a lot more collaborative than the applications that were seen previously, including building bridges between protocols. DAOs are governed by their communities allowing for significant member collaboration and DAO direction.
All of us stand strong on the shoulders of the DeFi 1.0 developers who came before us.
Goblins Business Model
Goblins is a decentralized reserve and revenue protocol, based upon the GOB token. Each GOB token is backed by a basket of assets in the Goblins treasury that will help sustain price during market downturns. Goblins also offers unique economic and game-theoretic dynamics into the market through staking and bonding.
By favoring liquidity bonds over reserve bonds, we will achieve:
1) Positive price action during the bonding process instead of inflation alone 2) Automatic buybacks of GOB via the liquidity pool during negative GOB price action 3) Reduce selling pressure by current holders trying to mint new bonds 4) Income generated for the treasury from LP trading fees
Goblins Goal
Our goal is to build a policy-controlled decentralized reserve and revenue protocol, in which the behavior of the GOB token is controlled at a high level by the DAO.
Goblins Strategy
There are two main strategies for market participants: staking and bonding. Stakers stake their GOB tokens in return for more GOB tokens, while bonders provide LP tokens in exchange for discounted GOB tokens after a fixed vesting period.
Goblins Staking & Bonding Benefits
The main benefit for stakers comes from supply growth. The protocol mints new GOB tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for bonders comes from price consistency. Bonders commit capital upfront and are promised a fixed return at a set point in time. That return is in GOB and thus the bonder's profit would depend on the GOB price when the bond matures. Bonders benefit from a rising or static GOB price.
Goblins Governance
Currently, decisions are made by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible!
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