Immortal is a decentralized reserve currency protocol on Celo blockchain based on the IMMO token. Each IMMO token is backed by a basket of assets (e.g. mcUSD) in the Immortal treasury, giving it an intrinsic value that it cannot fall below. Immortal also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.
ImmortalDAO is also considered an algorithmic currency protocol with the goal of becoming a stable crypto-native currency within the Celo ecosystem. Though sometimes called an algorithmic stablecoin, ImmortalDAO is more akin to a central bank since it uses reserve assets like mcUSD to manage its price. The goal is to achieve price stability while maintaining a floating market-driven price. The biggest difference between IMMO and stablecoins like USDC is that IMMO is backed but not pegged to a particular price. Technically, the price floor for IMMO is 1 mcUSD, but practically a premium and the treasury value is added to the price. IMMO differs from other algorithmic stablecoins like Ampleforth (AMPL) because it issues IMMO to buy mcUSD and other assets and maintain a treasury. This mechanism is similar to FEI; the key difference is that FEI keeps a dollar peg, and ImmortalDAO Finance allows its token to float.
IMMO is the native utility token that is used for staking and bonding on our decentralised Application (https://www.immortaldao.finance/) as well as governance votes to determine how network resources are allocated.
Where is ImmortalDAO available for purchase?
You can exchange IMMO tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading ImmortalDAO is Ubeswap V2, notably the IMMO/MCUSD pair, which saw a trading volume of $ 29.36 in the past day.
What is the highest value ImmortalDAO (IMMO) has ever reached?
ImmortalDAO (IMMO) reached its peak price at 175.25 $ on 21 January 2022, approximately 4 years ago ago. Presently, the current price is -99.34% lower than this all-time high.
What is the historical minimum price for ImmortalDAO (IMMO)?
The minimum price reached for ImmortalDAO (IMMO) was 0.006103 $, documented on 03 March 2024, more than 2 years ago. In comparison, the current price is 18,577.71%, it above this historical low.
What is the fully diluted valuation of ImmortalDAO (IMMO)?
The fully diluted valuation (FDV) of ImmortalDAO (IMMO) stands at $ 10,542.37. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of 9,235 IMMO tokens. The realization of this FDV might take several years depending on the emission schedule of IMMO tokens.