The purpose of COLD [Banking Suite] is to create the web3 infrastructure for community members to integrate custom financial instruments / defi tokens to serve as interest/reward options on term-locked $XFG deposit yield.
Making $XFG a yield-bearing asset with a multitude of off-chain community-based tokens to function as interest- while simultaneously preserving Fuego's hard money principals & fixed supply of 8M8.
All steps for certificate of ledger deposits relating to $XFG are completed using the Fuego Desktop Wallet, while all $COLD interest (and all other tokens created &/or approved by DAO) redemption steps are to be completed using your web3 wallet of choice.
Below is the current list of asset options available for interest thru COLD [Banking Suite].
Asset #01
Contract: TLGm9Z8ajK4hNvnCX9vQ44bYt2yffw9PN1
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)
Current Circulating Supply: 19.262603971250
DAO Governance (project) : Any amount of $COLD
DAO Governance (monetary) : 0.1 $COLD required
DAO Governance (add new asset) : burning of 1.0 $COLD required (See goverance section)
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 )
Foe each time XFG doubles/halves in price, interest rates in Red Mercury rise/fall by half.
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
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
Initial offering of 69 available for purchase thru smart contract @ fixed base price of 1 TRX = 0.000625 $COLD
A 'premine' of 11 $COLD were sent to a development wallet- using six (6) $COLD for network stewardship rewards to Fuego Elder Node operators, as well as, five (5) $COLD reserved for interest payment option on XFG deposits.
Fixed price offering will end after either 1) all 69 tokens are sold or 2) Fuego deposits are successfully implemented, whichever arrives first. In the event of unsold tokens, any remaining $COLD will be either a) added to reserve and used as interest option for XFG deposit yield or b) burned.
(*) limited by fixed supply & ultimately we want a full distribution of tokens, so as to be in the hands of DAO members for governance.
Token : https://tronscan.io/#/token20/TLGm9Z8ajK4hNvnCX9vQ44bYt2yffw9PN1
Contract: https://tronscan.io/#/contract/TLGm9Z8ajK4hNvnCX9vQ44bYt2yffw9PN1
See "Write Contract" section under Contract tab, and access 'buyToken' function for asset purchase using your TronLink or Ledger wallet.
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 yield rewards in COLD Banking Suite™️, simply, by acting as a COLD DAO member (@role) - excercising perhaps your most important new perpetual 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... they say everything IRL is eventually going to be tokenized, so....plenty of options;)
Proposals: Using the holding requirements below, 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)
- 1st Governance session (3/20/21) : The holding amount required for monetary policy has been lowered from 1 $COLD to now, a minimum of 0.1 $COLD; whilst holding ANY amount of $COLD affords the owner / member a vote on all project governance decisions.