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Introduction

Malt is an algorithmically collateralized stablecoin pegged to $1 with a single core guiding principal:
Be as fair as possible
This guides every decision we make throughout the project:
  1. 1.
    The mechanism design
  2. 2.
    The funding strategy
  3. 3.
    The tokenomics
  4. 4.
    The launch strategy
  5. 5.
    Much much more
But how does this actually manifest?
  1. 1.
    The protocol is designed around LPs. LPs are first class citizens with strong incentives within the protocol.
  2. 2.
    No VCs
  3. 3.
    No governance token
  4. 4.
    No discounted presale
  5. 5.
    No team allocation
  6. 6.
    Democratizing the profit usually extracted by bots
TLDR Malt is an algorithmic stablecoin protocol initially deployed on Polygon that carries out privileged arbitrage on itself to keep the price stable. Profit generated via this arbitrage is then split between directly paying LPs and bolstering peg defences.
As an LP all you have to do is create Malt LP and bond your LP tokens into the Malt contract. You will now start receiving a pro-rata share of all the profit made via the protocol arbitrage.

Why Polygon?

Our V1 deployment was on Polygon so we have brand recognition there. Malt is still in the early stages and we wanted a chain that was cheap for us and our users to experiment with the protocol. Our intention is to deploy on many other chains and exist as a true cross-chain native stablecoin.