OtterClam is the first decentralized reserve memecoin protocol on Polygon Network based on the CLAM token. Each CLAM token is backed by a basket of assets (e.g. MAI/QUICK/MATIC) in the Otter's treasury, giving it an intrinsic value that it cannot fall below. OtterClam also introduces economic and game-theoretic dynamics into the market through staking and bonding.
OtterClam is a fork of OlympusDAO on Polygon network.
Most memecoins do not have any tokenomics built inside. Investors will suffer from large volatility and have a significant chance toward zero. The Otter King (or the world?) noticed that the OlympusDAO creates the strongest tokenomics of the DeFi world. We decide to bring the bonding and protocol-owned liquidity to the otter’s kingdom!
Our goal is to build a policy-controlled memecoin system, in which the behavior of the CLAM token is controlled at a high level by the DAO. In the long term, we believe this system can be used to optimize for stability and consistency so that CLAM can function as a global unit-of-account and medium-of-exchange memecoin. In the short term, we intend to optimize the system for growth and wealth creation.
There are two main ways for otter lovers: staking and bonding. Stakers stake their CLAM tokens to otters in return for more CLAM tokens, while bonders provide LP or MAI tokens in exchange for discounted CLAM tokens after a fixed vesting period.
The main benefit for stakers comes from supply growth. The otter harvests new CLAM tokens from the treasury, the majority of which are distributed to the stakers thanks for the CLAM tokens they offered. Thus, the gain for stakers 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.
The main benefit for bonders comes from price consistency. Bonders commit a capital upfront and are promised a fixed return at a set point in time; that return is in CLAM and thus the bonder's profit would depend on CLAM price when the bond matures. Bonders benefit from a rising or static CLAM price.
OtterClam is a fork of OlympusDAO on the Polygon Network. Our team is mostly anonymous, born from the habitat of otters. We aim at becoming a Decentralized Autonomous Organization.
Currently, most of the decisions are taken by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible!