REAPER

Reaper Protocol is a decentralized reserve currency platform on Polygon Network. Unlike DAI or USDC, which are pegged to the value of the U.S. dollar, Reaper's reserves are crypto assets held by the Reaper Protocol Treasury. REAPER is a free-floating currency backed by our treasury supply of the stablecoin DAI/WMATIC. REAPER tokens can’t be minted or burned by anyone except the protocol. The protocol only does so in response to price. Each REAPER is backed by at at least 100 DAI. If REAPER ever trades below 100 DAI, the protocol buys back and burns REAPER, pushing the price back up to 100 DAI. There is no upper limit imposed by the protocol to the potential trading price of REAPER. REAPER is backed by DAI, not pegged to it. This allows the REAPER token to achieve a stable floating value, while never falling below the value of its backed assets.