# Introduction
## What is Traverse?
**Traverse** is the first of its kind Interoperable Reserve Currency protocol currently available on the **Avalanche Network** based on the **VERSE** token. Each **VERSE** token is backed by a basket of assets (e.g., DAI.e, VERSE-AVAX LP Tokens etc) in the Traverse treasury, giving it an intrinsic value that it cannot fall below. **Traverse** also introduces economic and game-theoretic dynamics into the market through staking and minting.
## What is the point of Traverse?
Our goal is to build a policy-controlled currency system, native on the **Avalanche** network & beyond, in which the behavior of the **VERSE** token! In the long term, we believe this system can be used to optimize for stability and consistency so that **VERSE** 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 Traverse?
There are two main strategies for market participants: staking and minting. Stakers stake their **VERSE** tokens in return for more **VERSE** tokens, while minters provide LP tokens or MIM tokens in exchange for discounted **VERSE** tokens after a fixed vesting period.
## How can I benefit from Traverse?
The main benefit for stakers comes from supply growth. The protocol mints new **VERSE** 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 **VERSE** tokens and thus the minter's profit would depend on **VERSE** price when the minted VERSE matures. Taking this into consideration, minters benefit from a rising or static price for the **VERSE** token!
## Who created Traverse?
Traverse a **spoon** of wonderland on the Avalanche Network. 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.
Further down the line we aim to reveal some of our key developers identities & Share our stories with you!
## Who runs Traverse?
Currently most of the decisions are taken by the core team & administered by Lydia finance through a multisig, but we expect to be able to turn this into a DAO-governed model as soon as possible!
## Why Traverse and not other OHM forks?
Traverse is more than just a reserve currency protocol; It aims to enhance the protocols use of Treasury funds through an extra **Cross-chain Optimization** Layer. This will be done through a unique approach of bridging **Liquid** assets over its multiple chains in order to provide an even more discounted bond prices, higher staking rewards & stabilizing prices when it's doomsday (❌, ❌). Simultaneously, this will have little to no effect on outperforming Chains.
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