The purpose of COLD Banking Suite is to create the web3 infrastructure for community members to integrate a multitude of custom financial instruments (DeFi tokens, NFTs, etc) to serve as interest on term-locked $XFG deposit yield; effectively making $XFG an yield-bearing asset whilst simultaneously preserving Fuego's hard money principals & fixed supply of 8M8.
All steps for certificates of ledger deposit relating to $XFG are completed using the Fuego Wallet, while all $COLD interest (and all other tokens created &/or approved by DAO) redemption steps are completed using your web3 wallet of choice.
Below is a list of available options for interest thru COLD Banking Suite.
(Coming Soon)
Asset #01
Platform: TBA
Contract: TBA
Ticker : COLD
Description: Original asset of the COLD Banking Suite + governance token of COLD DAO
Decimals : 12
Total Red Mercury Supply : 20
Total $COLD Supply: 80 total (4 defi platforms @ 20 COLD each)
Max Supply: Dynamic. After initial total of 80 is distributed, max supply will fluctuate (mint/burn based on market conditions) above/below 80, with the purpose of becoming an inverse asset of $XFG. ($COLD supply will be algorithmically managed to persuade pricing to function inversely to $XFG price)
DAO Governance (project) : Any amount of $COLD
DAO Governance (monetary) : 0.1 $COLD required
DAO Governance (list new asset) : burning of 1.0 $COLD required (See goverance section)
Wrapped XFG (wXFG) Interest Rate: Similar to liquidity pool rates. (wXFG/COLD, EVMs_Native_Coin/COLD)
XFG Interest Rate : as COLD and XFG are the same supply by atomic unit (only decimal place differs) interest is factored using a supply ratio of 1:100000 ( 1 $COLD : 100,000 $XFG or 1 $XFG : 0.00001 $COLD )
For our initial onboarding wave, each time wXFG doubles or halves in price,
interest rates in Red Mercury (COLD) shall rise/fall by half.
Such as:
XFG at $0.0015 = 0.15% APR paid in COLD
XFG at $0.0033 = 0.33% APR paid in COLD
XFG at $0.0075 = 0.75% APR paid in COLD
XFG at $0.0125 = 1.25% APR paid in COLD
XFG at $0.0250 = 2.5% APR paid in COLD
XFG at $0.05 = 5% APR paid in COLD
XFG at $0.10 = 10% APR paid in COLD
XFG at $0.20 = 20% APR paid in COLD
XFG at $0.40 = 40% APR paid in COLD
XFG at $0.80 = 80% APR paid in COLD
XFG at $1.50 = 150% APR paid in COLD
XFG at $3.00 = 300% APR paid in COLD
XFG at $4.20 = 420% APR paid in COLD
and so on and so forth.
example yield @ 80% :
800 $XFG principal @ term yields 0.0064 $COLD
8,000 $XFG principal @ term yields 0.064 $COLD
80,000 $XFG principal @ term yields 0.64 $COLD
XFG price is the combined average of both wXFG & XFG markets.
Transaction fees in COLD are burned at a rate dynamic to interest %
COLD DAO is the governing group of $COLD token owners/members stewarding the excellence of her banking suite.
Members may excercise (or delegate) their vote, according to required holding amounts, on a range of topics such as project branding, tokenomics, XFG yield rates, choosing the next smart contract platform(s) of the remaining COLD issuances, COLD treasury decisions, and the selection of new financial instruments to make available in COLD Banking Suite™️.
Add New Asset / Integrations: In order to add an new asset to be offered as interest in COLD Banking Suite™️, by acting as a COLD DAO member (@role) - excercise the right to voice your opinion by creating a DIP ( DAO Improvement Proposal )[link] briefly introducing the proposed asset. If a positive majority (51%) voting decision has been reached, DAO member(s) must burn a total of 1 $COLD token at time of integration. Community assets can be anything; from fixed supply currencies to limited-run NFT collections, infinite supply meme coins, tokenized property, etc... subscribing to the idea that everything IRL will eventually become tokenized, it gives us plenty of options;)
Proposals: Using the holding requirements above, any DAO member may form an improvement proposal on any topic upon which to vote- so long as the proposing member holds the minimum required amount, corresponding to proposal type. (project or monetary)