Similarly to Olympus, KANDY is backed by MIM and other assets owned by the reserve treasury, and will function in a very similar way: when KANDY trades below MIM, the protocol will buy back and burn KANDY, increasing its price to at least 1 MIM. This means that KANDY will always be worth equal to, or more than MIM.
Kandyland DAO aims to become a relevant reserve currency on the AVAX network, one which is truly owned and maintained by a decentralized protocol that serves the majority. Our goal is for $KANDY to be a common trading pair that is backed by real assets.
Additionally, Kandyland DAO will focus on empowering the Gaming and Music industries within crypto through the crowd-voted, smart allocation of the treasury funds in said industries.