For all you scotch drinkers out there, this might be the first opportunity to try something new on Polygon and in the algorithmic stablecoin space. Malt.money has a unique model that attempts to keep the $1 peg by adding liquidity to the AMM each positive rebase (when the price is above the peg the supply expands), and incentivizing users in a non-native asset ($DAI). This will attempt to prevent massive amounts of dumping of the native token and the dreaded death spiral.
Here’s an excellent Twitter thread about the mechanisms at play:
The launch is today: Launch Medium Post and Yield Farming Instructions. The first week will provide double rewards for anyone that reinvests their earned DAI into the MALT-DAI pool on Quickswap.
I am familiar with two members of Fisher8 Capital that are excited about this project, and although it’s not 100% safe (audit TBD), it may be worth throwing a few DAI at it to LP the MALT-DAI pool on Quickswap.