Djinn Gold is an algorithmic stable coin on the binance smart chain designed to peg to 1g of gold.
Similar to bDollar, BoltDollar, SOUP, and others, DJINN uses supply expansion and contraction to stabilize its value.
The protocol makes use of three tokens to achieve price stability:
- DJINN: the algorithmic stable coin.
- DJINNS: Shares which can be staked to receive DJINN when the price is above the peg.
- DJINNB: Bonds which can be redeemed for DJINN at 1:1. These are issued at a discount when the price is below the peg.