The Mamba Buy & Burn Pool
The Mamba Buy & Burn Pool is a powerful mechanism designed to keep both Mamba and DRIPX thriving by ensuring price stability and driving continuous burning of tokens. Here’s how it works:
A Large ICE Reserve: The pool consists of a large reserve of ICE tokens, with its primary goal being to maintain a stable Mamba price. Stability in Mamba’s price is crucial to keeping the rewards attractive for participants and ensuring the ecosystem functions smoothly.
Triggering Liquidity Injections: Every 10 minutes, a miner claim can trigger an injection of liquidity into the Mamba/ICE liquidity pool. These injections help strengthen the price floor of Mamba and ICE over time, making the tokens more resilient to price fluctuations.
Maintaining Attractive APRs: A stable Mamba price ensures that APRs (Annual Percentage Rates) for both miners and liquidity providers (via the Pit) remain attractive. High APRs encourage more participation, which leads to more activity in the ecosystem, increasing the demand for Mamba and, in turn, burning more DRIPX.
Driving ICE Burns: As more miners are created and liquidity is provided, the buy and burn pool plays a critical role in maintaining a healthy balance. This ongoing burning of ICe helps reduce the total supply, which drives up scarcity and strengthens the overall price floor of ICE.
Last updated