bDollar Protocol — an algorithmic stablecoin, powered by the Binance Smart Chain with fully decentralized governance within the network.
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Information about the bDollar Protocol project
bDollar has appeared with an innovative solution that can deterministically adjust its supply to move the token price towards a target price of $ 1 to ensure programmability and DeFi compatibility.
Inspired by Basis Cash and its predecessors, the bDollar Protocol is a protocol that consists of three tokens:
| 1. | $ BDO, algorithmic stablecoin. |
| 2. | bDollar Shares, or $ BDO, which holders can report BDO inflation as the network expands. |
| 3 | bDollar Bonds or $ bBDO, which can be purchased at a discount when the network shrinks and can be exchanged for BDO when the network goes into deflation and the price drops below $ 1. |
When $ BDO is trading below the target price of $ 1, token holders can purchase bDollar bonds at an additional discount and the bonds will be burned to reduce the circulating supply when users redeem bDollar at a 1: 1 ratio. If redeemed, $ BDO will be minted, equal to redeemed bDollar bonds. It is important to note that the Notes do not expire after purchase. When the $ BDO price exceeds the $ 1 peg, the token supply will have to expand to bring it down to $ 1, and the contract will allow you to redeem the bDollar bonds.
To participate in the protocol, you can visit the bDollar Banks dashboard and select your preferred pool. It currently supports: BUSD, DAI, CAKE and BFI.
Additional data
There is no WhitePaper on the site. Instead, an introductory document is available that describes all features of the project. The developers also provide a blog on the Medium site.
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You can verify the honesty of the project by checking the audit of the smart contract on Certik.