ImmortalDAO Finance. Price of cryptocurrency: $ 0.42292709

The IMMO token is used as a reserve currency in the Immortal protocol. The IMMO token is backed by a basket of assets, giving it an intrinsic value that it cannot fall below.
The goal of the ImmortalDAO protocol is to become a stable coin within the Celo ecosystem. Since it uses reserve assets like mcUSD to manage its price, ImmortalDAO is more akin to a central bank. The goal is to maintain a floating price. IMMO is backed but not pegged to a price, which is the biggest difference between it and stable coins. The treasury value is added to the price to make it seem like a premium. IMMO is different from other stable coins because it issues it to buy assets and maintain a treasury.