📄️ CREED Token
The CREED token is a governance and utility token backed by crypto assets held in the capital pool contract. When someone contributes ETH, USDC or cbBTC to the Capital Pool in the Creed Crypto user interface, CREED is minted and transferred to their wallet.
📄️ Token Model
The Creed Crypto protocol has a mechanism that allows members to freely mint and redeem CREED and ensures all claims can be confidently paid should a major loss event occur. This mechanism is referred to as the Ratcheting Automated Market Maker (RAMM), a two-pool system built on top of the Capital Pool that allows members to redeem and mint CREED.
📄️ History of Capitalisation Controls
The following information below is the documentation that outlined how the original bonding curve worked; how the CREED token was priced; certain bonding curve parameters; how the Minimum Capital Requirement (MCR) was previously implemented; and the history of the MCR Floor.