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$0.0123
9/28/2022, 6:32:30 AM
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PAPA DAO price is unchanged in the past week.

The current price is $0.012275 per PAPA. The new price represents a new all time high of $0.012275.

About

What Is PAPA DAO (PAPA)?

PAPA DAO (PAPA) functions as a reserve currency protocol operating on Avalanche Network. Avalanche Network is a smart contract-based blockchain capable of delivering high scalability, decentralization, and security. Further, smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

The network token, called PAPA, is the primary currency of the PAPA DAO platform. The main goal behind the creation of PAPA DAO is to develop a policy-controlled currency system, wherein the PAPA token functions as the medium of exchange for metaverse and the gaming universe. Thus, in simple words, the platform aims to develop a network that represents systematic growth for the users.

Furthermore, the PAPA token can also be used to aim to create incentives for network contributors. Each PAPA token is backed by a bunch of assets, including PAPA-AVAX LP tokens, metaverse infrastructure projects, play-to-earn projects, and MIM (Magic Internet Money). Magic Internet Money is a stablecoin, and each PAPA token is backed by 1 MIM. This means that one PAPA token is equivalent to at least 1 MIM. As a result, the token seeks to become more stable and secure by being backed up by a pool of assets.

The PAPA DAO platform seeks to generate value through bonding and staking:

  • Bonding: PAPA DAO uses a bonding system to seek to generate profits. The bonding system works by selling bonds of other tokens in exchange for PAPA tokens at a discounted rate. This allows full-time traders of the network to keep their PAPA tokens organized along with earning rewards over time. The growth of the PAPA DAO ecosystem runs parallel with the growth of network users.

  • Staking: Staking plays a vital role in the PAPA DAO ecosystem. The network allows traders to stake their PAPA tokens in return for compounding rewards received in the form of sPAPA. sPAPA is generated by bond sales and can be exchanged anytime for PAPA at a 1:1 ratio. This staking process aims to accelerate the amount of PAPA owned by stakers and bring continuous profit and minimized risk environment.

History of PAPA DAO (PAPA)

PAPA DAO is a fork of Olympus on Avalanche Network and follows the rules of a decentralized autonomous organization. Olympus is a community-owned cryptocurrency that aims to provide stability and transparency to the world. The PAPA DAO team is a group of anonymous contributors.

PAPA DAO is under process for its PHASE 2 changes in features like Decentralized Voting System and PAPA Workshop has already been launched. However, a few more changes, such as Lending and Borrowing protocol, Audit, and Accelerator Launchpad, are in the pipeline.

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FAQ

What is the current price of PAPA DAO?

The price of 1 PAPA DAO currently costs $0.0123.

What other assets are similar to PAPA DAO?

Assets that have a similar market cap to PAPA DAO include Ethereum 2, Ethereum, Tether, and many others. To see a full list, see our comparable market cap assets.

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