What Is Snow Thrive?

Welcome to Snow Thrive, home to the first deflationary algorithmic token fork pegged to $GMX on the Avalanche network with innovative new features!

The Big Picture

The $THRIVE algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Avalanche network and the GMX Protocol. The protocol's underlying mechanism dynamically adjusts $THRIVE's supply, pushing its price up or down relative to the price of $GMX.

Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), Snow Thrive is a multi-token protocol which consists of the following two tokens: -Thrive ($THRIVE). -Thrive Shares ($POWDER)

What differentiates $THRIVE from other algorithmic tokens?

Unlike previous algorithmic tokens, $THRIVE is not pegged to a stable coin— it is instead pegged to $GMX. Why is this? Snow Thrive believes in the potential of GMX, and has chosen to align its mission to both provide value to and derive value from $GMX future growth. We are proud to build on top of the largest and most innovative decentralized derivatives platform.

One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Snow Thrive team will maintain a focus on innovation around enhanced functionality and use cases.

Another short coming we hope to solve is the "bank run" scenario if algorithmic stable coins. Snow Thrive hopes to solve this problem by issuing transaction taxes and protocol owned liquidity (POL) which will make the Snow Thrive peg and protocol robust.