$CHAOS
The volatile, yield-bearing metastable token
The native store of wealth produced by ONC is the $CHAOS
token. It is a partially collateralized, volatile metastable token. The price of $CHAOS
is limited by a rising floor, backed by a diversified basket of stablecoins. The effect is that $CHAOS
can trade above the floor, but can never trade beneath the floor. It has limited downside, but unlimited upside.
$CHAOS
generates yield through staking rewards. Holders of $CHAOS
may choose to stake it with the protocol and earn regular $prCHAOS
reward tokens. These $prCHAOS
tokens are options to buy additional $CHAOS
at the current floor price. Realizing $prCHAOS
tokens to purchase more $CHAOS
that gets staked creates a compounding APY, where the rewards are re-invested into the user's principal.
What is a "metastable" token?
ONC coined the term metastable token to denote a kind of financial instrument that is better than -- or beyond -- stable. The $CHAOS
token has a floor price which it will never go beneath, but it has unlimited upside. It has at least the inherent value of a stable coin.
Secondly, the ONC protocol tunes the bandwidth of prices that the currency tends to trade within. It is "stable" to a certain degree. The $CHAOS
token is dynamic & volatile within bounds, which provides the necessary amount of dynamism to generate profit.
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