Traverse

What is Traverse? What is the point of Traverse?

Traverse is the first Multi-Chain Decentralized Reserve Currency protocol currently available on the Avalanche Network based on the VERSE token. Each VERSE token is backed by a basket of assets (e.g., DAI.e, VERSE-AVAX LP Tokens etc) in the Traverse treasury, giving it an intrinsic value that it cannot fall below. Traverse also introduces economic and game-theoretic dynamics into the market through staking and minting.

Our goal is to build a policy-controlled currency system, native on the Avalanche network & beyond, in which the behavior of the VERSE token! In the long term, we believe this system can be used to optimize for stability and consistency so that VERSE can function as a global unit-of-account and medium-of-exchange currency. In the short term, we intend to optimize the system for growth and wealth creation.

We intend to achieve price flatness for a representative basket of goods without the use of fiat currency, in order to allow the cryptocurrency industry to detach once and for all from the traditional finance world!