Bitr Cash — an algorithmic stablecoin on the Binance Smart Chain with an innovative solution that can adjust its supply to move the token price towards the target price to ensure programmability and DeFi compatibility.
Contents:
About Bitr Cash
The project is a multi-token protocol that consists of three tokens: Bitr Cash, Bitr Shares and Bitr Bonds.
When the BIC price is below the $ 1 target price, token holders can purchase Bitr Bonds (BIB) at an additional discount and the bonds will be burned to reduce the circulating supply when users redeem Cash at a 1:1 ratio. If redeemed, the amount will be minted cash equal to the redeemed bonds. It is important to note that bonds do not expire after purchase.
BitrCash (BIC) distribution:
| Initial delivery | 50 000 BIC. |
| Dev сборы | 3%. |
| Distribution period | 30 days. |
| Distribution period | BUSD, USDT, USDC, DAI, WBNB. |
| Maximum bet per account: | 1,000 for WBNB and 20,000 for the other four tokens. |
When the BIC price exceeds the $ 1 peg, the token supply will have to increase to bring it down to $ 1 and the contract will allow Bitr Bonds to be redeemed. When the cash price continues to trade above the target price of $ 1 after bond redemption, the corresponding amount of new cash is minted under the contract.
Additional data
At the moment, White Paper and RoadMap are not available on the site. Developers provide a blog on the Medium platform where articles will be published. Subscribe and follow the news.
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The smart contract has not been audited.