Introducing Sigma protocol, a bond based, decentralized monetary model.
A model of a competitive decentralized monetary system. In this model, the supply of the currency (SASH) is regulated by an algorithm, in consideration of the market demand, velocity, price, and exchange rate. Our model is built upon a set of economic rules, which will allow our system to always recover genuinely from recession.
SASH is bond based. The only way to mint SASH, is to deposit a stable coin into a bank contract. By doing so the investor will receive SASH bond. On the redemption date, bondholders will receive their SASH reward and their principal.
We propose a new ERC(BEP) Bonds standard. Which allows all kinds of bonds to be created and traded on a secondary market. Every single bond has their own interest rate, redemption date and conditions of redemption. Bonds are printed by depositing tokens into bank contracts. Bonds can be redeemed; the bondholder will receive their principal and interest. The interest is in the form of a token (settlement token) which is associated with the bond. The redemption date is calculated from the velocity and the market demand of the settlement token. Bonds can only be traded on Sigma bond exchange.
ERC(BEP)659 standard and Sigma bonds exchange bring innovation to the block-chain community and open a whole new market for investors and speculators alike. In this market of limitless potential, SIGMA protocol is the first standard maker.
- Fair for all, No pre-sale, no pre-mine, no team share.
- SASH(sigma cash) is a new generation algorithmic sustainable coin.
- The price of SASH has the tendencies to return to a projected price, but the price of SASH is decided by the market.
- The price of SASH will never fall under 0.5 USD. The value of SASH is backed by Stable coins like BUSD or USDC.
- The price of SASH has no upper limit. Bonds can only be traded with SASH. a blooming bonds market will multiply the market demand of SASH.
- SASH is Death Spiral resistant. SASH has his own economic cycle, it can always recover from recession.
- SASH bondholders will never suffer from permanent or impermanent loss. Because of the stable token pledged, the total value of SASH redeemed will always be higher than the principal invested.
- The minting of SASH applies Fisher‘s quantity theory of money (MV=PT). Which means the protocol is able to balance the circulating speed and inflation rate of SASH and SGM. In simple words, SASH will be mint when the market demands more, and vice versa.
- ERC659(BEP659) is an universal standard for any kind of bond based tokens or existing tokens who want to issue their bond.
- Even during a recession, investors will never lose their principal, if they wait for the self-recovery of SASH economic cycle. And SASH will always recover from recession.
- Any token on the market can issue their bond with Sigma protocol and ERC659(BEP659) standard.
- ERC659(BEP659) standard bonds can only be traded on Sigma bonds exchange, using SASH as the settlement currency.
- Fair for all, No pre-sale, no pre-mine, no team share.
- SGM is the community governance token of Sigma protocol and other projects built with Sigma DAO.
- Staking SGM for votes can generate SASH reward. By providing liquidity for SGM LP, investors will receive SGM bonds. Investors can then stake SGM bonds to a governance contract. On the redemption date, voters will receive their SASH reward and their principal.
- providing liquidity for SGM has no permanent loss. When the SGM bond is redeemed, the value of the reward in SASH will always be higher than their principal.
- The price of SGM will never fall under their average minting cost. The minting of SGM is based on POS. The value of SGM is pledged by SASH, and SASH in turn is backed by other USD-based stable tokens.
- Investors of SGM will have no permanent loss, The minting cost of SGM gradually increases as new SGM are mined. A nonlinear function applies with Fisher’s QTM, ensuring that the minting of SGM is always slightly below the market demand. In other term, it means that the future price of SGM will always be higher than its earlier price
- The listing of a token on Sigma Swap requires a community vote and community experts examination of the smart contract.
- Sigma SWAP LPs provides liquidity for Bonds redemption and loans.
- The value of bonds is backed by Sigma Swap LPs.
- Using pledge oracle to insure rapid and safe cross chain token transactions.
- Bridge factory contract automatically creates bridge smart contracts for every token using SIGMA Bridge.
- Every token can create his own lending contract on Sigma SWAP.
- Sigma Loan introduces a reactive interest model, which will calculate the interest rate from market demand and its velocity of circulation.
- Issuing and redemption of ERC(BEP)659 bonds.
- Loan and deposit of Tokens listed on Sigma SWAP.
- There are no master private keys. The team doesn’t have any permanent posts in this project. All posts, even the contract creator’s architecture post can be filled by any one through a community vote.
- Sigma protocol governance is completely decentralized. Every single proposal needs to be converted to a smart contract. Any modification, update and the spending of community treasury is on the block chain.
- A community treasury is created from stamp duties of the redemption and exchange of ERC(BEP)659 bonds.
- Stamp duties will not decrease Bond investor’s reward. It’s been mint apart from the transaction. If Alice reclaimed 200 SASH as a reward, the Treasury budget will increase 20 SASH.
- If no spending proposal is approved by the community, the stamp duties will not be reclaimed.
- There are no permanent dev or team rewards. Any team reward needs to pass the community vote.
- The community treasury will be principally used as a promotion budget. Every spending of the treasury needs the approval of the community.
- Users, who helped the development of the community will receive a part of the Stamp duties as their promotion reward.
- Every Sigma or ERC(BEP)659 based project’s community vote needs the staking of SGM.
- Sigma bonds exchange only recognizes SASH as circulating currency.
- ERC(BEP)659 bonds can only be traded on bond exchange with dutch auction methods (Auction begins with an asking price higher than the
- Bonds from different tokens, with different redemption date, can be packed into packing loans.
- Every one can propose their own projects of tokens and other nature on Sigma DAO.
- Community experts will give their voice on the reliability of those projects.
- Through a fundraising campaign, Sigma DAO community will raise SASH to provide liquidity for the LPs.
- All SASH raised will be injected to the token’s LP
- The project’s ICOs, which were successfully launched with Sigma DAO will be automatically listed on Sigma SWAP.
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