By Serval Finance: The lead developer rug, but the team is still here, we will think of compensation plans for affected users The team is working with MMFinance to ensure that the develop that rug will be caught and have his account frozen. The leftover serval team will do our best to compensate affected users and we will be here to stay. We are working with the MMF team to apprehend the rogue developer. The rest of the team is here to ensure that any funds we have left that is not taken by the developer will be used as refund for the SRV and SRV LP holders. Sorry to everyone affected. **Serval Finance** is the first ever DAO protocol on Cronos that unifies **metaverse, gamification and NFT's with DAO**. Serval finance is a decentralized reserve currency platform on **Cronos**. Each Serval is backed by at at least 1 USDC. If Serval ever trades below 1 USDC, the protocol buys back and burns Serval, pushing the price back up to 1 USDC. There is no upper limit imposed by the protocol to the potential trading price of Serval. Serval is backed by USDC, not pegged to it. This allows the Serval token to achieve a stable floating value, while never falling below the value of its backed assets. The token price is designed to equal (1 USDC + Premium), with "premium" reflecting market value. Bonds are sold by the protocol for different assets, and in return the buyer receives Serval at a significantly discounted price. This increases the treasury and enables us to produce incredible yields for our users. Serval expands its treasury through **bonds and fees that we will receive from Metaverse, NFT and GameFi**. This will allow Serval to build more utility around $SRV token and also increase the size and value of assets in the treasury along with the value of $SRV token.
Categories: DAO, Marketplace, GameFi, TEAM ABANDONED
Tags: DAO, Marketplace, GameFi, TEAM ABANDONED