CurioDAO is a open-sourced multideefi chain project which is efficiently handled by different individual around the globe who are in possession of CGT tokens, which is the governance token. By process of scientific authority, which includes administrative selection and governance survey, $CGT token holders can handle the Creator Protocol and economic risks posed to the Curio Stablecoin in order to maintain its solidity, clarity, and efficiency. The voting weight of CGT is synonymous with the number of CGT each individual puts into the voting contract i.e the higher tokens the CGT possessors are able to contribute into the contract, the higher the power of said voter to make decisions. The Creator Protocol, which was developed on Polkadot as well as ETH blockchain, allows users to develop a new coin. New segments of this Protocol include the Curio Chainlink Oracles, Stablecoin, Voting, and the Creator Security Vaults. CurioDAO controls the Protocol by determining the major limitations across the selecting power of those in possession of CGT.
Why do we need the CGT token
The CGT token which is also referred to as the governance token of CurioDao Protocol enables the investors and holders to possess it to cast votes on alterations to be made on the Creator Protocol.
It is noteworthy that anyone can bring up a proposal for a CGT vote even without possessing any CGT tokens. The process of Governance creation usually encompasses proposals and executive voting. The proposal selection is carried out to initiate a preliminary agreement of the group’s opinion before Executive voting begins which guarantee that decisions related to governance are considered, and an agreement is reached before the actual process of voting. The voting process is usually helps to confirm (or cancel) adjustments to the position of the system.
Therefore, there can be different kinds of votes which can all be handled by smart contracts such as
*Proposals that help improve the ecosystem by maintaining the integrity of the Creator Protocol,
*Service polls, which affect other less-critical proposals regarding the protocol.
A Proposal contract is a type of smart contract that is integrated with a governance action or more but can only be used once. When it is finished, it quickly enacts the changes being voted on into the variables affecting the internal governance of the Protocol. Once used, the Proposal Contract becomes void.
Note that - You don’t even have to own CGT token to submit proposal which mean everyone has the right to submit there proposal on the CurioDao protocol
CURIO STABLECOIN (CSC)
The curio stable coin is known as CSC which is another digital token on the Curio ecosystem. It can be generated by holders of the security tokens that are tied to real-world classic cars. Any security token holder can swap his tokens for CSCs by dropping assets into the creator vault present in the Creator Protocol.
Investors can convert their cryptos into stablecoins through the CSC token and then redeem them later.After the deposit is made, the value of the security is then decided with the use of Curio Chainlink Oracles, and depending on the information gotten about the security; the stable coin is then issued by CurioDAO. The CSC can also be used for the long-term savings of any user since it is a stable coin and CSC holders will enjoy considerable rewards for staking their stablecoins . All CSC transactions are publicly available for increased transparency.
One of the many features of the Creator Protocol is that it allows users to use the Curio Stablecoin as savings. All Stablecoins currently in circulation is supported by surplus security, which entails that the security’s worth is greater than the debt of the stable coin. Every transaction made with the Stablecoin is made public on the blockchain.