What is Nash Equilibrium
The Nash equilibrium, also known as non-cooperative game equilibrium, is an important term in game theory named after its inventor, John Nash. The dominant strategy is the chosen strategy of a player in a game regardless of the strategy that the opponent uses. If two players in a game each adopt their respective dominant strategy, the combination of their strategies is defined as a Nash equilibrium.
Historical story – The Cuban Missile Crisis
During the Cold War, both the Soviet Union and the United States were busy developing their own military technologies, including nuclear weapons, space technology and so on. The Cuban Missile Crisis unfolded in the early stage of the arms race, when both countries possessed a second-strike capability, and each had a missile base built in Turkey and Cuba respectively to keep each other in check. In this case, the odds of defeat are much higher for the side that strikes first as it will be retaliated with a devastating nuclear strike. On the other hand, however, without initiating a war, one of them is bound to lose out in the arms race to the other with a greater capacity for scientific research. The two countries restricted each other, taking tentative actions but never the initiative to strike, thus finding a Nash equilibrium. Eventually, the crisis was resolved through the dismantling of their missile bases
What is Nashcash Finance
Based on the concept of the Nash equilibrium in game theory and the Decentralized Finance (DeFi) protocol, NashCash.finance tries to seek a stable price range in the game of market economy among players of different identities, so as to provide a next-generation stablecoin without collateral for the DeFi field.
NashCash.finance acquires enough players to participate in the game from various blockchains such as the Binance Smart Chain (BSC), Ethereum and Polkador through the fair and equitable DeFi protocol. Each player can obtain the Nash token to participate in the game by pledging single asset in an equitable manner. And by providing liquidity for Nash tokens, they can acquire NashCash tokens, a game stablecoin. Over the course of the game, players can choose to buy, sell, pledge, destroy by burning, mine, or mine at multiple times of base speed, according to their own opinions. When enough players of different identities join the game process, the NashCash token will arrive at a stable price range which reflects its value.
What are our aims
- NashCash aims to solve one of the biggest economic problems: inflation. Due to advancements in Smart Contract technology, we’ve created a currency that can be used as its own product to create 24/7 global market demand. In essense, we’re trying to create on-chain demand through a NashCash burning mechanism. When more than 50% of NashCash supply is burned, the demand outweighs the supply, indicating excess market demand.
- NashCash also hopes to create a game process by allowing players with different identities to make such decisions as buying, selling, pledging, burning and burning at multiple times the base speed according to different market sentiments. In addition, after acquiring as many users as possible from various smart chains, it hopes to seek a stable price range through the game process that truly reflects the value of the stablecoin.
What happens next?
As for now, we will be continuing to build partnerships and the official version will be launched in two weeks after finishing the audit process.
