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What is SpiritDAO Ghost?

Spirit is a decentralized reserve currency protocol available on the Avalanche Ecosystem based on the GHOST token.

Full description of SpiritDAO Ghost

Spirit is a Decentralized (?) reserve currency protocol available on the Avalanche Ecosystem based on the GHOST token. Each GHOST Token (?) is backed by a basket of assets (e.g., MIM, GHOST-AVAX LP Tokens etc.) in the Spirit treasury, giving it a minimum value (a value limit it cannot go below). Spirit is part of the projects which introduce economic and game-theoretic dynamics into the market through Staking (?) and bonding. We aim at creating a policy-controlled currency system on the AVAX network thanks to our GHOST token. In the long run, we believe this system can be used to optimize for stability and consistency so that GHOST can work as a global unit-of-account and medium-of-exchange currency. In the short run, we care about optimizing the system for growth and wealth creation. We intend to achieve price flatness for a representative basket of goods without the use of Fiat (?) currency.
  • Exchange symbol (?): GHOST
  • Cryptocurrency type (?): Token (?)

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 Source: NOMICS

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