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Immortal DAO

ImmortalDAO is the First Decentralized Reserve Currency Protocol Built on Celo Blockchain

Immortal has been introduced as a new decentralized reserve currency protocol on the Celo blockchain, and this is the first one to do so on the Celo chain. Immortal is based on the IMMO token, each of which is going to be backed by a basket of assets including mcUSD in the treasury, and this helps in keeping it at an intrinsic value that will ensure that it won’t fall below the given value.

Immortal boasts to be the first DeFi 2.0 protocol on the Celo blockchain and ever since its launch, the price of each IMMO token definitely gives you an idea of how well it is backed and is being adopted. Since it is backed by stablecoins, it cannot fall below the backing price and the team behind Immortal has ensured everything that gives it long-term sustainable growth.

To give a quick glance at what Immortal DAO is looking at is to build a policy-controlled currency system. What is reassuring, unlike how the scenario with other DAO projects, is the fact that the behavior of the IMMO token is largely controlled by the DAO, and this, taken forward in the longer term, will help in optimizing for stability and consistency that will help IMMO become a unit-of-account and a medium-of-exchange currency. So far, everything seems right on the path.

I had a word with the co-founder of Immortal, Josh, and the confidence shows with the final line from him that was ‘We are here to stay.’

At the time of writing this story, the APY is set at 218,090.9% and the rebasing is set at 8-hour intervals. While this is a huge APY and it gives the IMMO holders who stake them to get more IMMO tokens in return, it isn’t like those heavy APYs that only deceive investors into staking their tokens and then dumping the big rewards that they get in return. In the longer run, Immortal DAO also has plans to propose more utilities to projects in the Celoverse and become more integrated with the blockchain.

One of the best things one can easily find about Immortal is the transparency since the community started building up. The documentation was pretty clear about the goals, roadmap, and tokenomics that were detailed in there, and nothing has changed since the inception of the project, giving an idea of how strong the ideas and implementations are.

The trust build-up with Ubeswap

Ubeswap, the DeFi exchange for Celo blockchain has partnered with Immortal and that helps in building the trust in the current DAO scenario where investments are siphoned off and the developers are nowhere to be seen otherwise after the pre-sale rounds. On 17 December 2021, the founders of ImmortalDAO Finance have been KYC-ed by the Chief Technology Officer (CTO) of Ubeswap, named Brian Li (@brianvli). On 30 December 2021, the contracts of ImmortalDAO Finance have been officially audited by Brian Li (@brianvli) and Diwu (@diwu1989) from Ubeswap.

Roadmap of Immortal DAO

The team at Immortal has laid out a roadmap that they have been following from point to point, and positively the planned steps on the roadmap are being taken based on the mentioned time. The future roadmap also includes Celo Grant Applications, Listing on Centralised Exchanges, Cross Chain liquidity, NFT drop, NFT marketplace backed by IMMO tokens, and a lot more.

How to buy IMMO tokens

To buy IMMO tokens, you will have to visit Ubeswap by clicking on this particular link, which would open up the pair of IMMO with mcUSD, which is the stable token. To get these to your Metamask wallet, the easiest method is by buying Celo tokens on Binance and sending them to your Metamask wallet over Celo blockchain.

Metamask by default has only 2-3 networks added and you will have to manually add Celo network on your Metamask wallet. Go to Chainlist and just search for Celo and the Celo Mainnet network is what you have to add.

Celo Search Chainlist

Celo Add to Metamask

Once you have sent Celo to your address, open Ubeswap and you can swap Celo to mcUSD, which will help with buying IMMO tokens with a clearer understanding as you end up paying in the equivalent of USD. For the first time, you will need to approve IMMO purchase before hitting the swap button, as that is the case with any new token purchase on the DeFi exchanges.

mcUSD to IMMO buy

If you are investing for the first time, this is a good chain, in fact given that Celo has a very less transaction fee for anything you do. Also, the transaction speed is quite good here with most of the transactions happening in a few seconds.

Immortal DAO Dashboard

IMMO Dashboard

A quick look at the dashboard of Immortal gives you a clear picture of almost everything you as an investor needs to know. The price of IMMO token, Market cap, current APY, Staked and Total Supply of IMMO, Total value locked, Percentage of IMMO staked, Market value of treasury assets, RFV of treasury assets, Backing per IMMO, Protocol-owned liquidity, Current index, and Runway.

Earning Passive Income by Staking and Bonding

Staking is the basic passive income earning strategy anyone can adopt if you are here for long-term earning from Immortal. Stakers who stake their IMMO on the Immortal website would receive rebase rewards and these rewards depend on the number of IMMO staked in the protocol and the reward rate set by monetary policy.

IMMO Stake

Whenever you stake IMMO, the rewards you receive are sIMMO and when you unstake, these get converted to IMMO at the 1:1 ratio.

Bonding, on the other side, allows Immortal to acquire its own liquidity and other reserve assets such as mcUSD by selling IMMO at a discount in exchange for these assets. The bonder can claim some of the rewards (IMMO tokens) as they vest, and at the end of the vesting term, the full amount will be claimable.


When you visit the Immortal interface, you will easily be able to calculate how much IMMO you will be getting for a certain number of tokens, which is a rough estimate based on the current token pricing, if you stake them, or are getting into bonding.

To learn more about Immortal DAO, visit the following links.

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