> For the complete documentation index, see [llms.txt](https://meta-dao.gitbook.io/meta-dao-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://meta-dao.gitbook.io/meta-dao-docs/meta-tokenomics/meta-backing.md).

# META Backing

Each META is backed by 1 MIM, not pegged to it.  The Meta DAO treasury backs every META with at least 1 MIM.  This means the Meta DAO protocol can buy back and burn META when it trades below 1 MIM.  This has the effect of pushing META price back up to 1 MIM.  META could always trade above 1 MIM because there is no upper limit imposed by the protocol. Think pegged == 1, while backed >= 1.

You might think of the META floor price or intrinsic value is 1 MIM.  However, the community will likely view the actual price as 1 MIM + premium, but in the end that is up to the market to decide.  The premium would be how the market values META and the potential future rebase reward potential.

META aspires to become an algorithmic reserve currency backed by other decentralized assets within the Metaverse. Similar to the idea of the gold standard, META provides free floating value its users can always fall back on, simply because of the fractional treasury reserves META draws its intrinsic value from.


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