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Snowbank DAO is a decentralized reserve currency protocol running on the Avalanche Network and powered by the SB token. Every SB token is supported by a portfolio of assets (such as MIM, SB-AVAX LP Tokens, and others) held in the Snowbank DAO treasury, which provides the token with an internal floor it cannot drop beneath. Snowbank DAO also adds economic and game-theory mechanics to the market via staking and minting. Snowbank DAO is a fork of Olympus deployed on the Avalanche Network.
Network participants generally follow two core approaches: staking and minting. Those who stake lock their SB tokens to receive additional SB tokens, while minters contribute LP tokens or MIM tokens to obtain SB tokens at a discount following a set vesting period.
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