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Ditto Money ... Like Ampleforth but on Binance Smart Chain
Some will say... oh no.. another elastic token.. but this is cool! Ladies and gentlemen ... I present Ditto Finance, the first elastic supply token on Binance Smart-Chain.
When you open the website, is love at first sight, with a fresh, uncluttered and colorful layout. Also, tiny dittos are jumping all over the screen when clicking! Pure magic!
Did you watched the adventures of Ash Ketchum? If yes, you will know that Ditto is a shapeshifter, and can take many forms. The eyes are always the same, being the only aspect that can give away Ditto's disguise. Talking now with Pokemon experts, and we know that this is not 100% correct, as in the 35th episode of Indigo League, Ditto's Mysterious Mansion, it was a Ditto that mastered the transformation. Ditto aims to maintain a stable price of 1$, and in order to achieve this, the supply will adapt to changes in demand. Holders will always have the same percentage of the total supply, no matter the value or number of rebases.
Coming back to $Ditto, this token has the same ability, being able to rearrange its entire cell structure according to the current price. Therefore Ditto can translate price-volatility into supply-volatility, and the number of $Ditto automatically increases or decreases based on the price, creating dynamic rebases. If Ampleforth rebase was triggered daily, Ditto can rebase up to six times a day, making the token maintain it's peg.
Let's have a look at the Ditto play card, which is a great addition in every deck. With 50 Health Points and the ability to transform, this basic Tokemon will use the rearranging ability to adapt to the price. The multiple rebase prevents long periods of negative values. Morphing so often makes Ditto to have a stable store of value, unaffected by volatility. Running on Binance Smart-Chain makes Ditto fast and cheap, not as the Ethereum Chain elastic tokens, and because it uses time-weighted average price (TWAP)feeds generated by on-chain AMMs, doesn't depend on external oracles. Being such an unique Tokemon, Ditto is community led, and the trainers (holders) can vote on all important decisions.
Let's do a quick security check ... anonymous team, no whitepapers available and an non-audited code! But who cares? Chad is a Ditto trainer and as a humble farmer... in Chad I trust! Take my money now!
The rebase can be followed on the dashboard, in a user friendly way, which is simple and easy to understand.
Ditto public sale took place directly on Ditto.Money and as a Initial Farm Offering (IFO) on PancakeSwap.
The January updates inclued the implementation of the snapshot strategy to enable voting for token holders and LPs and the launch of the first batch of DITTO NFTs. The DITTO NFTs will make holders eligible for perks and rewards.
The formal launch of multisig governance plus NFTs and gamification features are planned for February.