Introduction

Democracy DAO is the first decentralized reserve currency protocol available on the KCC Network based on the DEMO token. Each DEMO token is backed by a basket of assets (similarly to how the dollar used to be backed by gold) in the Democracy DAO treasury, giving it an intrinsic value that it cannot fall below. Democracy DAO also introduces economic and game-theory dynamics into the market through staking and minting.

Democracy DAO is a fork of OlympusDAO on the Kucoin network

We are the first fork of Olympus DAO built on the KCC network we believe that DeFi should be accessible for everyone which is why we chose the KuCoin chain with gas fees as low $0.01.Our goal is to strive for financial inclusion for all and help everyone to engage in wealth creation while having a collective positive impact on the world

A 0.5% tax is imposed on each transaction to be donated at the end of each month to the Democracy DAO token holders chosen charity which will be Team sea's for the first two months as we get our platform of the ground and onboard new memebers into the community

Our goal is to build a user-controlled currency system using the DAO-governed model in which the behavior of the DEMO token is controlled at a high level by the DAO. In the short term, we intend to optimize the system to create the uptmost value for our users while growing the user base and letting our users to engage in wealth creation through auto compounding. In the long term we are extremly excited to see what creative uses the DAO puts the 0.5% tax towards

The main benefit for stakers comes from supply growth. The protocol mints new DEMO tokens from the treasury, the majority of which are distributed to the stakers who reap the benfits of our extremly high APY. The primary gain for those who stake will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

Democracy DAO is a fork of Olympus on the KCC Network. Our team is mostly anonymous going by pseudonyms with origins in the DeFi Community. We aim at becoming a Decentralized Autonomous Organisation, and we are proactively taking steps towards achieving that goal.

Currently most of the decisions are taken by the core team as we are working to build the required infrastructure, but we expect to be able to turn this into a DAO-governed model upon the token launch