The purpose of COLD Banking Suite is to create the web3 infrastructure for community members to integrate a multitude of custom financial instruments (DeFi tokens, NFTs, etc) to serve as interest on term-locked $XFG deposit yield; effectively making $XFG an yield-bearing asset whilst simultaneously preserving Fuego's hard money principals & fixed supply of 8M8.
All steps for certificates of ledger deposit relating to $XFG are completed using the Fuego Wallet, while all $COLD interest (and all other tokens created &/or approved by DAO) redemption steps are completed using your web3 wallet of choice.
Below is a list of available options for interest thru COLD Banking Suite.
(Available @ blockMajorVersion 10+)
Asset #00
Blockchain: C0DL3 rollup (via) /zkSync Era L2 (via) /Ethereum (L1)
Contract: TBA
Ticker : C0LD
Description: Governance token for C0LDAO voting rights. Approve/deny proposals, new asset(s) in Fuego's Certificate Of Ledger Deposit (COLD) Income Lounge*
Decimals : 12
Genesis Supply : 20
Total Supply: 80 (4 platforms / 20 C0LD each)
Max Supply: 80 Dynamic (mint/burn based on market conditions)
📬 (propose_new_asset) : requires burn total of 1.00 C0LD per proposal (See goverance section below for more)
⚖️ Monetary Governance (terms/rates) : minimum 0.1 C0LD required
🗳️ Lounge Governance** (project) : Any amount of C0LD token required. From Fuego's Chain Treasury claims, to project branding colors.
Interest Rate for (wXFG) Fuego Ξmbers (HEAT) {ie burned XFG}: Likely similar to LP rates. (HEAT/C0LD, ETH/COLD)
XFG Interest Rate : When factored using atomic units, C0LD & XFG are nearly identical in max supply (only decimal place differs) therefore, when factoring C0LD as interest on XFG principal, we begin at equal by supply ratio of 1:100,000 ( thats 1 COLD to 100,000 XFG || 1 XFG to 0.00001 C0LD )
ie
80.000000000000 COLD
8000008.8000008 XFG
the following was designed with COLD acting as inverse asset to XFG, which will likely
be reserved for a purely inverse instrument, rather than the governance token for the
entire COLD L3 ecosystem & architecture.. so, it is still applicable,
just not in the way we may have originally thought. :)
_________
For initial onboarding wave, each time wXFG doubles or halves in price,
interest rates in COLD shall rise/fall by half.
Such as:
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
XFG at $4.20 = 420% 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
XFG price is the combined average of both wXFG & XFG markets.
Transaction fees in COLD are burned at a rate dynamic to interest %
C0LDAO is the governing group of the COLD protocol and 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 interest in COLD Banking Suite™️, by acting as a COLD DAO member (@role) - excercise the 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... subscribing to the idea that everything IRL will eventually become tokenized, it gives us plenty of options;)
Proposals: Using the holding requirements above, 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)