Gate Opening State

ImpDAO's goal is to provide consistent returns by deploying treasury funds – it is not a stable price. Compared to fractional reserve currencies, ImpDAO will more closely resemble an investment fund whose tokens have currency-like characteristics. The main tradeoff is volatility and profitability versus stability and consistency. With volatility and profit comes growth – this is what ImpDAO targets.

Upward and downward pressures should stabilize at some non-intrinsic value encompassing both historical returns and expectations on discounted future returns. Given that treasury assets are owned by the protocol and actively invested to generate returns, ImpDAO is likely to trade at a market premium of its backing. The market premium of the token thereby measures the positive sum of the game as all extrinsic value is new wealth created.

Gate Opening State

The initial network features a one-way treasury (money goes in, none comes out), the bonding contract (through which supply increases and profits are produced), and the staking contract (where profits are distributed).

The following are the initial policy states:

• BCV - BCV varies based on different bond types. It is prudently adjusted by the Policy team during the Gate Opening State as well as afterwards to meet the protocol goals.

• Bond vesting term - It is set to a fixed number of Fantom blocks or approximately five days for all Bond Asset types.

DAO Allocation

3% of the circulating supply of IMP tokens is reserved as a DAO war chest for audits, marketing, graphic designers or other project-related cost positions.