# Introduction

## What is Uroboros Finance?

[**Uroboros.Finance**](https://uroboros.finance/) is the first decentralized reserve currency protocol available on the **Binance Smart Chain** (**BSC**) based on the **SNAKE** token. Each **SNAKE** token is backed by a basket of assets (e.g., BUSD, SNAKE-BUSD LP Tokens etc.) in the Uroboros Finance treasury, giving it an intrinsic value that it cannot fall below. **Uroboros Finance** also introduces economic and game-theoretic dynamics into the market through staking and minting.

## What is the point of Uroboros Finance?

Our goal is to build a policy-controlled currency system, native on the **BSC** network, in which the behavior of the **SNAKE** token! In the long term, we believe this system can be used to optimize for stability and consistency so that **SNAKE** 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!

## How do I participate in Uroboros Finance? <a href="#how-do-i-participate-in-olympus" id="how-do-i-participate-in-olympus"></a>

There are two main strategies for market participants: **Staking** and **Minting**. Stakers stake their **SNAKE** tokens in return for more **SNAKE** tokens, while minters provide LP tokens or DAI tokens in exchange for discounted **SNAKE** tokens after a fixed vesting period.

## How can I benefit from Uroboros Finance? <a href="#how-can-i-benefit-from-olympus" id="how-can-i-benefit-from-olympus"></a>

The main benefit for stakers comes from supply growth. The protocol mints new **SNAKE** tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.

The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in **SNAKE** tokens and thus the minter's profit would depend on **SNAKE** price when the minted SNAKE matures. Taking this into consideration, minters benefit from a rising or static price for the **SNAKE** token.

## Who created Uroboros Finance? <a href="#who-created-olympus" id="who-created-olympus"></a>

Uroboros Finance is a fork of [**Olympus**](https://www.olympusdao.finance/) on the **Binance Smart Chain** (**BSC**). Our team is mostly anonymous, born from the DeFi Community. We aim at becoming a Decentralized Autonomous Organization, and we are actively working towards that goal.

## Who runs Uroboros Finance?

Currently most of the decisions are taken by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible.