ArkadikoDAO is a DAO inspired by Ethereum’s MakerDAO and implements a stablecoin called Arkadiko ($DIKO) and a governance token called Somos ($ARE). In order to mint $DIKO, you need to over-collateralise Stacks ($STX) tokens into the Arkadiko Stacks Reserve. The collateralisation ratio will be defined by a risk parameter decided upon by the community.
We’re beginning to see exceptionally robust decentralized finance (DeFi) applications be built on Stacks, and the connection to the Bitcoin network gives developers even more power in the platforms they create. There are also two ground-breaking innovations implemented in ArkadikoDAO: a stablecoin
, and market-making
. Stablecoins are absolutely paramount in crypto as a creative way to mitigate risk and volatility of crypto assets. Establishing stablecoin standards on Stacks will only grow the ecosystem and encourage stability. Additionally, having the ability for STX holders to market make, and put their crypto to work, provides even more opportunities for value creation and passive income.
If anything signals the Stacks developer ecosystem is leveling-up, it’s production-grade smart contracts like ArkadikoDAO. We’re transitioning away from lil’ code snippets demonstrating the power of Clarity, to complex contract suites enabling entire use cases like CDPs or price-stable assets.→ View on Github