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3 years ago

What is bDollar (BDO) | What is bDollar token | What is BDO token

Presented by Bearn.fi, 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$).

Below is the explanation of how bDollar mechanisms works:

BDO trades below the $1 target price

When the BDO price is below the target price of $1, token holders can purchase bDollar Bonds with an extra discount and Bonds will be burnt to reduce the circulating supply when users redeem bDollar with a 1:1 ratio.

In case of redemption, an amount of BDO will be minted to equal the bDollar Bonds that have been redeemed. Important to note is that Bonds have no expiry after purchase.

BDO trades above the $1 target price

When BDO price is above the 1$ peg, the token supply will have to expand to push it back down to 1$ and the contract will allow the redemption of the bDollar Bonds.

When the price of bDollar continues trading above the $1 target price after bond redemption, the contract mints an appropriate amount of new BDO and this will be distributed to the Boardroom Stakers.

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

  1. Max supply: 210,000 BDO
  2. 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.

Reward rate for Seed pools from Day 1

  • BUSD: 4x
  • DAI: 2x
  • BFI: 2x
  • CAKE: 1x
  • 3 tokens voted by Community — 1x

Reward rate for Liquidity pools from Day 3

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:

Participate in bDollar farming

To participate in the protocol, visit the bDollar Banks dashboard here, and select your preferred pool:

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Participate in the Boardroom

Boardroom opens 7 days after the launch: 01/01/2021 00:00 UTC

The first segniorage will happen 12 hours after that.

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bDollar is the latest product of the Bearn.Fi ecosystem as we are strong supporters of algorithmic stablecoins in particular and DeFi in general. However, bDollar is an experiment, and participants should take great caution and learn more about the seigniorage concept and supply expansion and contraction mechanism to avoid any potential loss.

Read more ☞ What is bDollar Share (SBDO) | What is SBDO token

Would you like to earn many tokens and cryptocurrencies right now! ☞ CLICK HERE

How and Where to Buy bDollar (BDO)?

BDO has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BDO

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since BDO is an altcoin we need to transfer our coins to an exchange that BDO can be traded. Below is a list of exchanges that offers to trade BDO in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase BDO from the exchange.

Exchange: PancakeSwap and OpenOcean

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BDO gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com

Find more information BDO

☞ Website
☞ Explorer
☞ Source Code
☞ Social Channel
☞ Message Board
☞ Coinmarketcap

Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

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#bitcoin #crypto #bdollar #bdo

What is bDollar (BDO) | What is bDollar token | What is BDO token
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