IMMO

ImmortalDAO Finance price 
IMMO

$0.4052  

1.27% (1d)

ImmortalDAO Finance to USD Chart

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ImmortalDAO Finance statistics
Market cap
 

0.00%

$5,389
#6989
Volume (24h)
 

555.48%

$15
#6768
Volume/Market cap (24h)
 
0.27%
Self-reported circulating supply
 
13,301 IMMO
Total supply
 
13,301 IMMO
Max. supply
 
--
Fully diluted market cap
 
$5,389
IMMO to USD Converter
IMMO
USD
Price performance
24h 
Low
$0.4038
High
$0.4145
All-time high
Jan 21, 2022 (2 years ago)
$177.44
-99.77%
All-time low
Jun 11, 2023 (8 months ago)
$0.1692
+139.47%
See historical data
Popularity
In watchlists731x
6254th / 8.8K
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About ImmortalDAO Finance

Immortal is a decentralized reserve currency protocol on Celo blockchain based on the IMMO token. Each IMMO token is backed by a basket of assets (e.g. mcUSD) in the Immortal treasury, giving it an intrinsic value that it cannot fall below. Immortal also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.

ImmortalDAO is also considered an algorithmic currency protocol with the goal of becoming a stable crypto-native currency within the Celo ecosystem. Though sometimes called an algorithmic stablecoin, ImmortalDAO is more akin to a central bank since it uses reserve assets like mcUSD to manage its price. The goal is to achieve price stability while maintaining a floating market-driven price. The biggest difference between IMMO and stablecoins like USDC is that IMMO is backed but not pegged to a particular price. Technically, the price floor for IMMO is 1 mcUSD, but practically a premium and the treasury value is added to the price. IMMO differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues IMMO to buy mcUSD and other assets and maintain a treasury. This mechanism is similar to FEI; the key difference is that FEI keeps a dollar peg, and ImmortalDAO Finance allows its token to float.