An SVN algorithmic pegged token with features that seek to enhance our ecosystem The mechanics of Hakuna Matata is similar to that of [Savanna Finance](https://svn.finance/) except the underlying pegged token is different. On Savanna Finance, the $SVN is pegged to $MMF. On Hakuna Matata, the token $HKN is pegged to $SVN. Hakuna Matata project was voted by the community, for the community, by the MMF team. Vote: <https://snapshot.org/#/mmfinance.eth/proposal/0xc40f7c854044ba2596fcfe0e0ef68c2d6b1ee8b7329a1322a511fb1efa47b75c> Hakuna Matata is an algorithmic stable coin platform with our token **$HAKUNA** pegged to the value of 1 **SVN**. An Algorithmic Stable Coin (ASC) is a non-collateralized stablecoin tailored for improving price stability. The key differentiators are as follows 1. Incorporation of layer 1 MMF-CRO liquidity yield farms to promote and deepen MMF-CRO liquidity for better price stability not just for $HAKUNA but also entire MM Ecosystem. 2. Addition of NFT boosting which would act as the best form of reward to the true believers of our ecosystem. We will be the first Algorithmic Pegged Token platform with such an unique feature. 3. There will be a portion of the DAO allocation to be distributed to the METF AUM to allow METF to grow its backing. 4. Rate of inflation for this project will be lowered as compared to SVN, so as to allow a slower but stronger value growth over time. Any increment of supply by 25% after 8,000,000 $HKN, we will decrease emission by 5%. This is to ensure that $HKN will not be inflated and become unsustainable. 5. Dev team will take 0% allocation from Hakuna Matata. There will be allocation only to the community and to the DAO. Also, 100% of all the SVN tokens raised are used for liquidity, locked up in DAO or burnt. None is being sold to the market or sent to the team. This development is our way of giving back to the community that has believed in us all along.
Categories: Algorithmically Pegged
Tags: Algorithmically Pegged