ImmortalDAO Finance is an algorithmic currency protocol on the Celo blockchain that aims to be a stable, crypto-native currency. Its IMMO token is backed by a basket of reserve assets such as mcUSD, mcEUR, and CELO held in the Immortal treasury, giving it an intrinsic floor value. The protocol uses staking (users stake IMMO for more IMMO) and bonding (users provide liquidity or mcUSD in exchange for discounted IMMO after a vesting period) to manage token supply and incentivize participation, drawing on economic and game-theoretic mechanisms similar to other DeFi reserve currency protocols.
