*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
RugDoc Review
AbachiDAO is a fork of OlympusDAO and is launching in Polygon mainnet. The platform follows a very complex system which involves multiple interconnected smart contracts that aim to build its reserve thru its platform profits to give its native token an intrinsic value that can support its unique approach on being an algorithmic reserve currency backed by decentralized assets.
AbachiDAO offers two options for users on its platform: Staking — the platform allows you to deposit the native token where it gives out a token receipt that recalculates on every certain period (rebase) for your percentage share of Abachi tokens in the pool which were collected from the platform fees and reward rates; and Bonding — lend your LP tokens to the platform to gain discounted native tokens that is vested over a certain period. This method allows the platform to gain revenue from LP rewards to further reinforce its reserves and ensure exit liquidity.
Having said the above, we are classifying this as Not Eligible as we recommend these kind of projects to pass reputable audits and KYC verifications as there is a risk of governance mishandling. Before investing, we also recommend users to conduct their own due diligence checks.
More Details
RugDoc KYC:
A call between one of our admins, one of our reviewers, and the dev/owner was arranged by our team. The dev/owner introduced himself and said that he’s the person behind the project. We asked him to confirm his identity with a passport, and he produced it. The image on the license bears a strong resemblance to his person.
We asked him to confirm that he is the only person who has access to the developer wallet that deployed the contracts, and he confirmed it verbally and also by sending a transaction to the brand from the wallet. All of this was recorded and the developer also shared his screen during the entire transaction process.
*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.
Project Type
Links
Social Links
Related Events
Popular Links
For Farm Owners
Disclaimer: This is done with our best knowledge and effort, nothing can be known for certain – always DYOR and risk management. This is NOT financial advice. Use the information presented here to inform your own decisions. Referral links may be included on any outbound link.