Bingo Cash Finance is the AlgoStable coin protocol built on the Binance Smart Chain for casino gaming. We are a fair launch project with no pre-sale, no investor, and no pre-mine. Ensuring that everyone is equal from the start.
Bingo Cash (BGO) is an algorithmic token that will seek to have its price stay as close to $1 as possible. Through various means built-in the system, BGO will become the next stablecoin to be widely used on Binance Smart Chain!
Bingo Shares loosely represent the value of the Bingo Cash Finance and trust in its systemic ability to maintain BGO to peg. During epoch expansions (when TWAP - time-weighted average price of BGO is above the 1 $BUSD peg), the protocol mints BGO and distributes it proportionally to all sBGO holders who have staked their tokens in the boardroom.
Additionally, sBGO are used to achieved a completely decentralized on-chain governance where sBGO holders have voting rights and the ability to create proposals to improve the protocol.
Bingo Bonds (bBGO) help to incentivize changes in BGO supply during both epoch expansion and contraction periods. When BGO's TWAP falls below 1 $BUSD peg, bBGO gets issued and can be bought with BGO at its prevailing price. Doing so takes BGO out of its circulating supply. Users can claim bBGO under $1 and redeem them when the BGO higher than $1 to earn profit.