TaiChi (TAC) is a decentralized reserve currency protocol that operates on the Binance Smart Chain (BSC). It is inspired by the mechanism developed by Olympus (OHM) to bootstrap protocol liquidity and it replicates the protocol code to create a BSC-native version. TAC is supported by a collection of assets such as BUSD, wBNB, and BUSD-TAC liquidity tokens, which provide a theoretical price floor for TAC. TaiChi strives to provide an option for users to participate in yield maximization by deploying the auto-compounding mechanism of Olympus on Binance Smart Chain. The protocol aims to prioritize the community, intending to be a comfortable place for users to participate, regardless of the size of their contribution.

TaiChi operates using the same staking and minting mechanism as Olympus. Users can acquire TAC at a lower rate from the protocol using BUSD or wBNB (minting) and can sell their TAC after a 5-day vesting period or stake it to earn yields. The staked balances of users rebase every eight hours, leading to a falling cost basis and a constant share of the expanding supply of TAC. The protocol aims to provide a price backing for the inflationary supply of TAC by acquiring valuable assets like BUSD, a stablecoin, and wrapped BNB, a wrapped version of BNB. If the price of TAC falls below its backing, the protocol intends to start paying staking rewards from its treasury while simultaneously increasing the rate for minting new TAC to encourage new liquidity.

TaiChi identifies several potential future use cases. One such use case is the creation of a wrapped currency that can be used as loan collateral. Another potential use case is deploying the treasury to earn LP fees. The protocol aims to continuously evolve based on innovative ideas proposed and governed by the community, thus moving away from imitation and towards innovation. TaiChi also aims to benefit from a potentially large pool of users on BSC, which could promote community growth.

TaiChi is a derivative of the Olympus protocol and, like Olympus and many of its derivatives, was launched by anonymous or pseudonymous founders. The TaiChi team is described as an anonymous group of talented individuals spread across the globe. While most Olympus derivatives have not been rug pulls, some have, so users are advised to exercise caution when interacting with these new protocols. Unlike Olympus and Klima DAO, the founders of TaiChi do not have a share of initially generated TAC tokens that are vested according to the protocol’s supply growth. Instead, the team receives a static, community-approved compensation from protocol revenues. TaiChi intends to undergo a dual audit through Certik and Slowmist, despite the Olympus code, which it uses, having been audited twice.

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