Hello everybody. Right into subject since I am very excited.
I was reading How To DeFi Advanced by Coingecko and came across to this project. After reading the Lite Whitepaper(if my understanding is correct) I instantly fell in love.
I think people should understand the long term vision of this project and how an informed community plays an extremely crucial part to its success.
“The diamond hands” of $BANK token stores value from multiple sources.
Easy one to see: the volatility and demand stores cryptocurrencies to the basket over time and raises the value of the basket.
Meanwhile if you held throughout the ups and downs for the sake of keeping project stable, this adds direct community value to the project by keeping FLOAT value stable which presents a convincing demonstration that it works and the holders of the project are incentivized towards keeping the project “aFLOAT :)” instead of going for a quick buck.
The overall value added to the basket as along with price appreciation of $BANK tokens derived from demand to $FLOAT is a really strong spiral loop if community is after fulfilling the projects’ vision instead of prioritizing flipping the tokens.
This is a really integral game theoritical aspect of this project where I think it wasn’t well emphasized enough on the lite paper.
It has a possibility to turn into something that could become a transparent market driven DAO FED created by people have incentives aligned towards creating one.
Note: I don’t know if these are all obvious. Just wanted to share my perspective and maybe informed by other community members.