Welcome to Themis DAO
As newcomers arrive, this may seem overwhelming and often have questions about Themis DAO’ intricate mechanics, ambitious mission, and passionate culture. More often than not, they are new to blockchain projects entirely and pose broader questions about how this new decentralized economy fits together.
In this foundational piece, we’ll help guide you to an understanding of the basics of Themis DAO by answering some simple questions, which we’ll call the Who, What, Why, and How of Themis DAO. We’ll then review the three supporting structures of this foundation; The Reserve, Liquidity, and Utility Pillars.
Let’s jump in.
Take one look at the world and you’ll quickly realize that the financial system as we know it could use vast improvement. Centralized governments have a tyrannical hold on banks that dictate local currencies. Their irresponsible fiscal policies and regulations have been a detriment to a majority of the population and have even left some completely unbanked, without hope for a secure future.
We will never be free unless we declare our independence from traditional finance systems.
We are building a global, community-owned, and decentralized economy to introduce stability & transparency back into financial markets, while creating financial inclusion for all. Themis DAO is giving everyone with internet access a chance to adopt a decentralized reserve currency that’s independent of nation state politics. It is the gateway to an open financial technology that can tackle world-wide challenges like banking, inflation, and even climate change. We’re providing access to a global network filled with like-minded individuals with mutual goals and aligned incentives.
Best of all, it’s also an incredibly fun community! When you join Themis DAO, you join in a quest to secure a new financial future for your fellow stakeholders that preserves wealth, embraces stability, and fosters greater economic cooperation in Web3.
The first step towards decentralization was to create Themis DAO, the decentralized autonomous Themis DAO that manages the Themis protocol. A DAO is an organizational structure where control can be distributed rather than hierarchical. DAOs are organized using smart contracts, with members using governance tokens to vote on topics such as allocations, partnerships, treasury functions, or other matters of community importance.
Themis DAO aims to install THS as crypto’s decentralized reserve currency. As ambitious as that sounds, what do we mean by this?
A reserve currency is one that market participants use as a stable form of value, with the ability to facilitate large volume transactions. Whereas USD’s stability hinges on the whims of the federal reserve, THS’s stability is maintained by autonomous market operations incentivized by the protocol. Stability is also preserved by backing tokens with a basket of decentralized assets, both risk-free and risk-on. Staking keeps supply off-market. Bonding grows treasury reserves. Economic policy creates conditions for sustainable growth. Partnerships bring in more assets to the treasury. And the flywheel continues to rotate.
Of course, a reserve currency must be tradeable. Price slippage must be minimal and liquidity must be deep enough to accommodate trades in hundreds of millions. This requires THS to be a common liquidity pair.
A reserve currency must be accepted as the unit of account everywhere. Whether you’re on bnb smart chain or any future chains, THS must denominate all trading pairs and be available on all chains.
Lastly, a reserve currency must have utility. In DeFi, this means utility as superfluid collateral to work in the variety of money LEGOs. In the real world, utility means funding for everyday tasks where THS will be, like buying groceries, paying rent and/or donating to charitable causes. Where utility is needed, is where Themis DAO will be.
So how does Themis DAO plan to achieve these ambitious goals?
How: The Pillars of Themis DAO
After outlining the necessary conditions to become a reserve currency, we’ve come up with an approach that achieves these conditions by building three core pillars:
Reserve Pillar to establish Purchasing Power
Liquidity Pillar to foster Universal Acceptance
Utility Pillar to encourage High Usability
Each of these pillars support the protocol with numerous initiatives being carried out by our dedicated team of contributors. For example, projects that comprise the Reserve Pillar will focus on preserving THS’s purchasing power and add to its reputation as a trusted backing. The Liquidity Pillar will have campaigns to bootstrap deep THS liquidity with wide acceptance in DeFi on all layers and chains. Finally, the Utility Pillar will drive the usage and adoption of THS in Web3 as the reserve currency that can be easily exchanged for other assets, products and services.