- A reserve currency protocol on Klaytn
Neverland is a decentralized reserve currency protocol based on the HOOK token. Each HOOK token is backed by a basket of assets (e.g. KUSDT, KDAI) in the Neverland treasury, giving it an intrinsic value that it cannot fall below. Neverland also introduces unique economic and game-theoretic dynamics into the market through staking and minting.
Neverland receives LP tokens for minting assets which makes superior point over other similar projects. LP tokens have more advantages in most cases over single token.
In case of stable LP, the value of the asset is same as single token but it can be used for farming on other yield farming project. This prevents the protocol to sell the native tokens for marketing and development budget.
With the same aspect of stable LP, Neverland will mint HOOK for 50% of the asset value when assets consist of major + stable token LP such as KETH - KUSDT deposited to the treasury.
It has 2 points to focus, better price resistence and higher APY
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