bDollar is the first Algorithmic Stablecoin on Binance Smart Chain

bDollar is the first Algorithmic Stablecoin on Binance Smart Chain


 

What is Algorithmic Stablecoin

 

Seigniorage or Algorithmic StableCoins are the stable coins that are designed to Expand or Contract their supply according to the Demand & Supply of the market. 

Before getting into Algo Stablecoins, let's understand what are stablecoins in short, 

Stablecoins are acting the same as a fiat currency in Crypto Space, you can say it a Fiat Currency of Crypto Space in Digital Form. These coins are generally backed by the Fiat Currency of the particular country like (USDT by Dollars) or other Cryptocurrencies or Some Precious Metals. 

USDT (Tether) is one of the most popular Stablecoin in #Crypto Space, One unit of a #Stablecoin equals $1.

Algo-StableCoins method uses ‘Smart Contracts’ that automatically expand and contract the supply using algorithms to maintain value.

Said StableCoin has a $1 value. The price drops to $0.80, indicating the supply of StableCoins is higher than the demand. The algorithm uses seigniorage to buy ‘said’ StableCoin, thereby decreasing supply and pushing the price back to $1.

Users are essentially investing in the coins. When said StableCoin trades above $1, the algorithm issues additional tokens increasing supply until the price returns to $1.

 

What is bDollar?

 

bDollar is the first algorithmic stablecoin on Binance Smart Chain with an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.

Inspired by Basis and its predecessors, bDollar is a multi-token protocol that consists of three tokens: BDO (the algorithmic stablecoin), bDollar Shares (or sBDO, which holders can claim BDO inflation when the network expands), and bDollar Bonds (or bBDO, which can be purchased at a discount rate when the network is in contraction and can be redeemed for BDO when the network comes to its deflationary phase and price goes below 1$).

Unique algorithm

Epoch Duration: 6 hours

Rebase/Expansion Amount: Up to 3%

Supply/Reward Mechanism: All parameters will be votable on-chain by governance

No expiry for Bonds

Community vote’s pool — new pools will be open based on the community’s vote

bDollar token distribution

Max supply: 210,000 BD)

Distribution period: 3 weeks

First week: 80,000 BDO

Second week: 60,000 BDO

Third week: 40,000 BDO

Airdrop: 30,000 BDO (BNB, BUSD, CAKE, BFI, BFIE, ESD, BAC, and VALUE) #hodlers can claim BDO by connecting your wallet at bdollar.fi/claim.The airdrop is organized on a first come — first serve basis, until the whole 30k BDO is fully distributed. Each wallet can claim a maximum of 2 BDO while upNdown’s users will be entitled to claim 5 BDO.

bDollar Shares distribution

sBDO has a maximum total supply of 100,000 tokens. 15,000 sBDO are allocated to the team and DAO (7,500 each) and vested linearly over 12 months. The remaining 85,000 sBDO are allocated for incentivizing Liquidity Providers in 2 pools, as follows:

Pancakeswap LPs BDO/BUSD: 50,000

Pancakeswap LPs sBDO/BUSD: 35,000

Duration: 12 months

 

Why should you hold bDollar, sBDO

 

  1. bDollar is the first algorithmic stablecoin on BSC
  2. DAO FUND: after verify mutisign, DAO FUND belongs to the Community. This Fund can help control price BDO better, buy back BDO when price lower 1 $
  3. Expansion total BDO supply up 3%. It is a huge profit with sBDO holders
  4. BDO, sBDO is a part of BEARN FINANCE with: Cross Chain Yield farming, Vault, Game, algorithmic stable coin
  5. Building on BSC is a good way to spread this project over the world. BSC has supported by Binance, cheap gas, very fast speed.Project run on BSC is hot trend right now
  6. Everything is decentralize. 

 

Useful links:

Telegram: https://t.me/Bearn_Fi

Discord: https://discord.gg/j2TRcSHRe3

Twitter: https://twitter.com/bDollar_Fi

Medium: https://bearn-defi.medium.com

Github: https://github.com/bearn-defi/bdollar-smartcontracts

Coingecko: https://www.coingecko.com/en/coins/bdollar

https://www.coingecko.com/en/coins/bdollar-share




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Crypto HunterX
Crypto HunterX

I am Crypto investor. I love Crypto and Blockchain. I have researched blockchain and crypto sine 2017. I am supporting Midas Protocol Project, Mcashchain and Vinex Exchange. I am an admin of Crypto Group on facebook with 77k members.


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