The MetaBank will be introduced at a later stage of Meta TownShip
The MetaBank is the decentralized Treasury System backing the $TOWNSHIP token that will support the complex economy fueling the WORLD ecosystem. The rationale behind having a Treasury in the form of a DAO is twofold.
First, we want the Treasury to grow at the same time as the CityVerse and its population growth, compensating for the minting of more in-game NFTs and creating a scalable, stable, and functional monetary system.
The second reason is to have a decentralized Reserve. National central banks around the world use a system of Treasury that lets them control the supply of the currency they issue. While this has many benefits, especially in recessions, governance remains a huge challenge as subtle changes in policy can have catastrophic repercussions on the value of a currency.
For a young currency like $TOWNSHIP, a Reserve based on a DAO protocol is the best form of monetary infrastructure for the currency that won't limit opportunities for our players.