Description
Sapphire aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, Sapphire provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves Sapphire draws its intrinsic value from.
Each Sapphire is backed by 1 BUSD, not pegged to it. Because the treasury backs every Sapphire with at least 1 BUSD, the protocol would buy back and burn Sapphire when it trades below 1 BUSD. This has the effect of pushing Sapphire price back up to 1 BUSD. Sapphire could always trade above 1 BUSD because there is no upper limit imposed by the protocol. Think pegged == 1, while backed >= 1.
You might say that the Sapphire floor price or intrinsic value is 1 Sapphire. We believe that the actual price will always be 1 BUSD + premium, but in the end that is up to the market to decide.
Sapphire products, DEX(Sapphireswap) and Protocol controlled liquidity(Sapphiredao) to our exciting future projects will be based on SAPPHIRE tokens.
Market Rank
In the dynamic and ever-changing landscape of cryptocurrencies, Sapphire has established itself as a formidable player. It is currently ranked #23,808 in the cryptocurrency market based on its market cap. This ranking reflects the trust and confidence that the market has in Sapphire as a viable digital asset.
Wallet Support
In order to securely store your Sapphire tokens, you can use a variety of wallets such as Trust Wallet, MetaMask, SafePal, Coin98. These wallets provide a safe environment for managing and storing your digital assets. It's essential to select a wallet that supports the specific cryptocurrency and offers a high level of security, user-friendliness, and compatibility with your preferred devices.
Popular Exchanges
To buy, sell, or trade Sapphire, you can use various popular exchanges such as ArkenSwap, Trader Joe. These platforms offer a seamless experience and allow you to manage your investments in Sapphire with ease. Always remember to conduct thorough research before choosing an exchange, as the security and reliability of the platform are crucial for your digitalassets.
