TL;DR
- The Gensokishi team has launched the ROND BOND program to address the price volatility of ROND, the in-game currency of the Gensokishi Metaverse, providing a more stable and rewarding experience for users.
- The program offers principal-protected bond NFTs with a face value of $100 equivalent in ROND, a 30-day lock-up period, and dual guarantees: $10,000 in USDC collateral and a ROND token redemption pool with a 10% APY reward.
- Benefits include avoiding slippage losses on DEX, fixed-rate redemptions, and dual revenue options, enhancing market stability, and providing a reliable revenue stream for users.
The Gensokishi team has announced the launch of the ROND BOND program, a strategic initiative aimed at addressing the price volatility of ROND, the in-game currency of the Gensokishi Metaverse.
The GENSO team has introduced the ROND BOND program to address $ROND token price volatility caused by concentrated withdrawals and arbitrage activities. This initiative offers a dual guarantee:
1. USDC Collateral: $10,000 in CIRCLE USDC stablecoin deposited in the AAVE… pic.twitter.com/7sCEbs66KQ
— GENSO Meta (@genso_meta) November 15, 2024
This move comes after a period of market observation, during which the team identified key factors contributing to ROND’s price fluctuations, including concentrated withdrawal times and arbitrage activities. By introducing the ROND BOND program, Gensokishi aims to provide a more stable and rewarding experience for its users.
The ROND BOND Solution
The ROND BOND program offers a principal-protected bond NFT with a face value of $100 equivalent in ROND. These bonds can be purchased from a dedicated shop NPC and come with a 30-day lock-up period.
The first phase of the program will issue 100 pieces of ROND BOND. To ensure the redemption capability of ROND BOND, Gensokishi has prepared a dual guarantee: a $10,000 equivalent of CIRCLE USDC stablecoin deposited in the AAVE protocol as collateral, and an equivalent ROND token redemption pool with a 10% APY reward.
Benefits for Users
The ROND BOND program provides several benefits for users, including the ability to avoid significant slippage losses on decentralized exchanges (DEX). Users can redeem their bonds at a fixed rate of $100 equivalent, saving on gas fees during peak times.
Additionally, the program offers dual revenue options: users can choose to redeem USDC using the collateral, enjoying stable interest from the AAVE protocol, or redeem from the ROND token pool, receiving an additional 10% APY reward.
Enhancing Market Stability
By offering a principal-protected bond with flexible redemption options, the ROND BOND program aims to enhance market stability and provide users with a reliable revenue stream.
The program also helps mitigate the impact of arbitrage activities and price differences between DEX and centralized exchanges (CEX), ensuring a fairer redemption price for users. Furthermore, ROND BOND holders will have the opportunity to participate in a secret project reward plan, with specific details to be announced in the future.
Future Prospects
The Gensokishi team believes that the ROND BOND program will not only provide users with stable revenue options but also improve the overall market environment. As the program rolls out, the team will continue to monitor market conditions and provide better solutions for the community.
