With the creation of The Logical DAO on Polygon, which is meant to be a development and marketing fund for all of the projects that are coming out of The Logical Labs, came a new investment token, the $LOGIC token!
Being that the DAO was created to be a stablecoin based investment engine for project development and marketing costs, the decision was made to activate the investment token for the DAO, built on the XDAO platform, for a completely different purpose!
The Purpose of The $LOGIC Token
The Logical NFTs were created to serve the purpose of filling the pHBD-USDC farm on Polycub.com which acts as the main income driver. The $LOGIC token will serve as a type of stable investment, or a bond if you will. The funds used to purchase $LOGIC tokens will be invested via the DAO into the Aave platform to earn interest on lending. This fund can also be used to act as a business credit line that can be used for either significant development costs, or to use as leverage to build add more funds to the pHBD-USDC farm. Loans will be paid back from the farming rewards.
So think of it as a saving account that earns interest, that also helps support your favorite Web 3 dev dude and the efforts of The Logical Labs!
Minting and Supply of the $LOGIC Token
The $LOGIC token is only minted when purchased from the DAO and then it can be burned to acquire your share of the AUM in the DAO wallet, more on this later...
So the supply of the token is variable and is always backed by equal or greater value due to interest earned from lending through Aave and the portion of the xPOLYCUB staked rewards from the farm.
How to Invest in the $LOGIC token
Investing in the $LOGIC token is extremely easy! The hardest part is getting your USDC on Polygon! After that is done, you go to:
https://thelogicaldude.com/dao/#tab-daodashboard
Then click on the Public Offer button and you can purchase as many $LOGIC tokens as you wish with USDC.
That's it! It's that easy!
Burning $LOGIC Tokens And Receiving Value
To extract your share of value from the DAO, you have to burn the $LOGIC token. You have your choice of what tokens you can extract. You will be able to extract any choice of tokens from the treasury wallet. Generally those choices will be amUSDC or xPOLYCUB as this will be staked from the pHBD-USDC farm rewards, or a combination of both. Both of these tokens are interest bearing tokens so holding them long term gives you additional passive income!
You just put in how many $LOGIC tokens you want to burn, and put a check next to the token you want to receive and that's it! This way there is no 3rd party exchanges or KYC needed!
When NOT to Burn $LOGIC
If you are wanting to burn $LOGIC tokens, it will be best to make sure that there are no loans taken out at the time. If $LOGIC is burned during this time, it can effect the loan collateral in Aave. If you burn you burn, but you may not actually extract the amount of value as you should be able to if there isn't a loan against the collateral. Loans are paid back as soon as possible, but the idea is that with the xPOLYCUB tokens, it should balance out.
$LOGIC Is Trackable and Transaparent
The DAO Dashboard as well as the contract on Debank can insure that the $LOGIC token's supply and backing can be as transparent as inhumanly possible, unlike the other top stablecoins in the industry , cough cough, USDT... So does this make $LOGIC the newest stablecoin on the block? We soon shall see!
$LOGIC token contract address:
0x98354463Cc1b03d8FCf1B673c1EC305dB4806564
In Conclusion
If you want to help support me and my projects, think about checking out The Logical DAO and The The Logical NFTs!
Hint...
Logical NFT holders will soon have DAO voting privileges on top of all kind of awesome benefits to come in the future, like a portion of the farming rewards from the pHBD-USDC farm on Polycub!!!
Until next time...
Be Cool, Be Real, and always Abide!
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Posted Using LeoFinance Beta
I'm already got my $Logic tokens with what little liquid usdc I have atm.
Shame about the current hive price and market situation, if Hive was work more post rewards would pay a larger amount of HBD.
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Dude you are awesome! Thanks for being one of the loyals and believing in the vision! Every little bit helps, but really this is more of a service for holders as I don’t plan on using the credit line much, unless the NFT holders vote to use it to build the farm.
Yeah I would love to incorporate pHIVE as well, but yeah prices need to stabilize
But yeah my spare change in my polygon wallet was what I started everything with, lol. Only like $34 worth, but it was enough to approve and get the foundation started.
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