Snowbank (SB) is the decentralized reserve currency protocol powered by the Avalanche Network based on the SB token. A basket of assets aims to support every SB token in the Snowbank DAO treasury, giving it an intrinsic value that it cannot fall below. Snowbank DAO is a fork of Olympuson the Avalanche Network. The platform also aims to introduce economic and game-theoretic dynamics into the market through staking and minting. According to its whitepaper, Snowbank DAO seeks to present economic and game-theoretic dynamics into the market via minting and staking. 

The Snowbank platform aims to create a policy-regulated currency system native to the Avalanche Network in which the behavior of the SB token is controlled at a high level by the DAO. The platform can be utilized to optimize for stability and consistency so that SB can function as a global unit-of-account and medium-of-exchange currency. The platform seeks to optimize the system for growth and wealth creation in the short term. The network aims to achieve price flatness for a representative basket of goods without traditional currency to allow the cryptocurrency industry to detach from the conventional finance world.

Further, the protocol is building a community-owned decentralized financial infrastructure to seek to bring more stability and transparency to the world. By seeking to render less risk and liquidity-providing for everyone, Snowbank aims to create new manners for decentralized finance (DeFi) users and be a potent tool to generate liquidity for protocols. 

Furthermore, the two main methods to participate in the market are staking and minting. Minting refers to validating and recording information into the blockchain. Stakers stake their SB tokens in recovery for more SB tokens, whereas minters deliver LP tokens in exchange for discounted SB tokens. 

Dave Rosso is the founder of Snowbank DAO.

We update our Snowbank to USD currency in real-time. Get the live price of Snowbank on Coinbase.

The current market cap of Snowbank is $36.04M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Snowbank is $3,468.88. This all-time high is highest price paid for Snowbank since it was launched.

Over the last 24 hours, the trading volume of Snowbank is $32.66.

Assets that have a similar market cap to Snowbank include Stronger, Molten, BeeZee, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Snowbank is 160 thousand.