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๐ŸŽ“ Details about the IMMO cryptocurrency and its draft protocol

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IMMO Token: ImmortalDAO Finance is the first decentralized reserve currency protocol on the Celo blockchain.

ImmortalDAO is also an algorithmic currency protocol that aims to become the IMMO cryptocurrency, a stablecoin within the Celo ecosystem.

IMMO Digital Currency Project

Although sometimes called an algorithmic stablecoin, ImmortalDAO is closer to a central bank because it uses reserve assets.

The goal is to achieve price stability by maintaining a market-driven floating price. The biggest difference between IMMO and stablecoins like USDC is that the IMMO cryptocurrency is backed but not tied to a specific price.

Technically, IMMOs have a minimum price of $1 million, but in practice a premium and treasury value are added to the price.

IMMO cryptocurrency differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues IMMOs to buy mcUSD and other assets and hold treasury. This mechanism is similar to FEI; The main difference is that FEI maintains its dollar peg and ImmortalDAO Finance allows IMMO to float.

The rewards come from the proceeds of the sale of bonds and can vary depending on the number of IMMO tokens accumulated in the protocol and the reward rate set by the monetary policy.

Information about IMMO cryptocurrency

  • The total number of IMMO tokens is more than 13,000 coins
  • Highest value reached on January 20, 2022, at $177.44 (as of this writing)
  • Your smart address on Celo Network: here
  • IMMO cryptocurrency official website: here
  • The official Twitter account: here

How to buy IMMO cryptocurrencies

You can buy IMMO cryptocurrencies in various places, including Ubeswap.

IMMO coin price

Its price was $31.62 (at the time of writing this article).

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