Piggybank Finance

PIGGYBANK DAO Documentation

What is Piggybank?

Piggybank is a decentralized reserve currency protocol available on the Avalanche Network based on the PB token. Each PB token is backed by a basket of assets (e.g., PB-MIM LP Tokens etc) in the Piggybank treasury, giving it an intrinsic value that it cannot fall below. Piggybank also introduces economic and game-theoretic dynamics into the market through staking and minting.

What is the aim of Piggybank?

Piggybank aims to become the de-facto reserve currency of the Avalanche Network. Our goal is for $PB to be a common trading pair which is backed by real assets

How can I benefit from Piggybank?

The main benefit for stakers comes from supply growth. The protocol mints new SB tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit. The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in PB; that return is given in PB tokens and thus the minter's profit would depend on PB price when the minted PB matures. Taking this into consideration, minters benefit from a rising or static price for the PB token!

Who created Piggybank?

Piggybank is a fork of Olympus. Our team is mostly anonymous. We aim at becoming a Decentralized Autonomous Organization (DAO).

Who runs Piggybank?

Currently most of the decisions are taken by the developer team, but we expect to be able to turn this into a DAO-governed model as soon as possible!