Snowbank is the non pegged stablecoin of Snowbank DAO, a decentralized currency reserve protocol deployed on Avalanche network, which attemps to be less volatile than traditional cryptocurrencies without being pegged to any fiat currency. Instead, the value of the SB token is floating on the value of its underlying treasury of assets and parameters set by the DAO. This stability is achieved by minting SB when its price is higher than its intrinsic value and burning SB when it is lower. The end goal of the token is to become a stablecurrency fully backed by decentralized assets, eliminating all reliance on fiat money.