This brings me back to the halcyon days.. Fond memories of AMPL, DSD, ESD, OHM and TIME doing interesting algorithmic on-chain experimentation.
TLDR of the Standard Reserve:
Net ETH inflows increase issuance and build hard reserves like tokenized gold and outflows can cut issuance + redirect revenue toward buybacks and burns.
Charter NFTs act like banking licenses, with branches earning a shares of new issuance.
Expansion requires burning STANDARD while cashing out means permanently closing Branches?
The most interesting part is probably this and it's where the game theory and metagame probably comes into play the most..
The protocol tracks withdrawal/exit pressure over the previous seven days and dynamically adjusts the "Resolution Fee," e.g., more people trying to leave relative to balances have higher exit fees and half gets burned and the other half gets redistributed to Bankers who stay. This reminds me a little bit of the Jaypeggers mechanics.
Pretty cool concept.. Down to run this back.
🎉 $3,000 PC Giveaway 🎉
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Introducing Project Genie: An experimental research prototype powered by Genie 3, our world model, that lets you prompt an interactive world into existence — and then step inside 🌎