Manifesto

The Augmint Project is a free association of stakeholder individuals, groups, and organizations with the common cause of creating and maintaining an open, decentralised, and distributed ledger-based stable cryptocurrency system.

The goal of this manifesto is to lay out the fundamental principles that will ensure Augmint’s vision is sustainable towards the long term.

Augmint mission

1. Augmint’s goal is to create new digital utility tokens; stable cryptocurrencies which are Independent, Transparent, Open source, Decentralized, and used Worldwide.
2. Each Augmint digital utility token’s value is targeted to one or more fiat currencies or other real-world indices.
3. Supply of Augmint utility tokens is flexible according to the economic demand. Augmint tokens may only be minted when backed by, at minimum, an equivalent value deposited in a smart contract, or in the form of a loan created by independent economic actors.
4. An Augmint utility token is for means of exchange, store of value, and unit of account.
5. Augmint must not discriminate against any person or group of people.

Role of DAO

6. Augmint operates as Digital Autonomous Organisation (DAO).
7. Operation of the DAO is fully transparent.
8. The primary role of the DAO is to ensure the stability of each Augmint digital token by managing operations, Augmint reserves, foundation budget, and technical architecture.
9. The Stakeholder must endeavour to prevent any party to monopolise decision making, and should aim to gradually delegate its own decision-making power to decentralised algorithms.
10. Augmint DAO is supervised by Augmint Stability Board (ASB) - members of which are elected by Augmint stakeholders.

Stakeholder community

11. Stakeholders hold the power to vote in Augmint matters, to practice control over the DAO and participate in decision making.
12. Open governance structure – anyone can join at any time, incumbent users have no particular precedence.
13. Free earnings from the Augmint systems are to be distributed among the Stakeholders.