Supra Dollar — an algorithmic stablecoin, powered by the Binance Smart Chain. It is an innovative solution that can deterministically adjust its supply in order to move the token price towards the target price in order to ensure programmability and compatibility with DeFi.
Contents:
Description of the project
Inspired by Basis and its predecessors (Empty Set Dollar and bDollar), Supra Dollar is a protocol that consists of three tokens: SDO (Algorithmic Stable Coin), Supra Dollar Shares (or SSO, whose holders can demand SDO inflation as the network expands) and overdollar bonds (or SBOs, which can be purchased at a 1: 1 rate).
SDO tokens:
| 1 | SDO tokens are intended to be used as a medium of exchange. |
| 2 | The protocol's built-in stability mechanism expands and shrinks the SDO supply to support the SDO peg to the $ 1 BUSD token. |
Supra-dollar stocks (SSO) represent the value of the protocol and the confidence in its systemic ability to keep SDOs pegged. During epoch extensions, the protocol generates SDO and distributes it proportionally to all SSO holders. The project has a maximum total volume of 21,000 tokens. 1,750 SSO goes to Treasury. Above-dollar bonds (SBOs) help to drive changes in SDO supply during both expansion and contraction periods. Firstly, the exchange rate for SDO to SBO is 1: 1, but the SBO to SDO ratio depends on the mechanism, described below.
Unlike the early algorithmic stablecoin protocols, SBO has no expiration date. All holders can exchange their SBOs for SDO tokens if the Treasury has a positive SDO balance, which usually happens when the protocol is in an era of expansion.
Additional platform details
So far, there is no WhitePaper document on the site. Instead, developers blog on Medium. Articles and news will appear there regularly.
The community is actively promoting social networks:
Subscribe to chat with other members and stay updated on updates. The smart contract has not been audited.