The Binance Smart Chain Community AMA had overwhelming success with many participants and over 200+ questions asked.
Kori (Binance Angel): First question- What is the bDollar Protocol?
Tedtoshi: (Head of Business Development & Chinese Community Manager)
bDollar is the first seigniorage algorithmic stablecoin running on BSC created by the bEarn.fi Team and will be a main native token use case for the entire bEarn.fi Ecosystem.
It’s a token designed to actively peg itself to 1 $BUSD via mechanisms when the BDO is above or under 1.
For example:
- When BDO is above $1, it inflates for sBDO holders in the Boardroom as rewards.
- When BDO is below $1, inflation stops completely, and there are mechanisms in place to push the peg back to $1, namely the DAO Fund & Bonds Mechanism.
Our vision for bDollar is a true Decentralized USD-Pegged Dollar coin which follows in the inevitability of the DeFi Trend. As the bDollar Protocol is currently 3+ months old and is still very young, a certain level of volatility surrounding the peg is still there, and we should not be confused with the traditionally collateralized Fiat Stablecoins.
And, Being the first and leading algo stablecoin protocol in the Binance Smart Chain, as well as being on schedule on our roadmap since launch of the our entire bEarn.fi ecosystem.
Here we have a roadmap to share with everyone, planned for the whole year. I’m also very proud to share that we are on schedule. In fact, we are slightly ahead.
Kori: Ok so you are building a stable coin. What are BDO’s use cases ?
bEarn.Fi | bDollar | B: Hello everyone, I’m B, Operation Manager of bEarn & bDollar. There’s Many Use Cases at the moment! Here’s the list:
Single Token Farming
- FARM $BFI via bFarms at — https://bearn.fi/farm/BDO
- Farm bpDOT at bDollar MultiPegs
- Farm bpEUR at bDollar MultiPegs
- Farm bpUNI at bDollar MultiPegs
- Farm bpXAU at bDollar MultiPegs
LP Farming
- Various LP Options listed in bVaults at https://bearn.fi/bvaults
- Farm $sBDO via Shares at https://bdollar.fi/shares
- Farm Cake via BDO-BNB LP Pair — https://pancakeswap.finance/farms
- Farm VBSWAP via BDO-VBSWAP LP Pair 70/30 whitelisted at ValueDefi — https://bsc.valuedefi.io/#/vswap
Non Farm Utility
- Play bLucky games- https://blucky.games
- Used for bLottery — https://bdollar.fi/lottery
Non-Verified Farm Utility on Projects within the BSC space (that we know off)
- Carrotcake Finance
- Sishi Finance
- Ying Yang Finance
- Pollo Finance
- Swamp Finance
- Harvest Finance
More use cases to be added (very soon):
- bLending — A lending & borrowing platform powered by bEarn Fi
- bLaunch — powered by bVaults.fi
For the latest update use cases of BDO, you can visit bEarn Fi_Tokens
Kori: Is there any public date for bLending and bLaunch?
bEarn.Fi | bDollar | B: Yes, for bLending will be released in the next few days, while bPower is set to be released by end of month.
Also, we have some more products around the corner:
- bDex (DEX AGGREGATOR) (ETA — end of month)
- Fork from Uniswap v2 + multi-route improvement for better trade
- Market & Limit order
2. bPepe (NFT marketplace)
- Buy/Sell/Auction NFT item
3. bLaunch
- IDO, Vaults, Waterfall
Kori: What is sBDO?
bEarn.Fi | bDollar | B:
sBDO (bDollar Shares) is our shareholder token that loosely represents the value of the bDollar Protocol and trust in its systemic ability to maintain BDO to peg. When sBDO staked in the boardroom and the TWAP is above 1, the protocol mints BDO and the inflated BDOs are distributed proportionally to Boardroom’s Stakers.
With the recent Multi-Pegs Algo Coins system launched for the Boardroom, in an extreme bull case, Boardroom could literally get up to 20+ rewards. That would mean apr in the thousands, BDO alone when in expansion can already account for apr in 1000–1500% (factored at sBDO’s current price point). At the point of this writing, 4 new algo-coins are recently fair-launched and are live for Boardroom. More (up to 20+ in plans) will be coming as soon as our development allows.
sBDO has a max supply of 100000 linearly vested over 12 months since launch. We are now 3+ months in and have about 8+ months to be fully minted.
15% of 100000 sBDO is locked since the start of the project for Dev Team + Dao Fund (50/50) which is also linearly vested over the course of the same 12 months.
Rafael (Binance Angel): What is DAO Fund & Bonds?
bEarn.Fi | bDollar | B:
Dao Fund is a Community Fund that is grown during Expansion Phases from the Boardroom Mechanism.
Dao Fund today currently has a value of more than 25M. Grown since the start of the project Launches and is a testament to the success of the bDollar Protocol.
Our Dao Fund has also proved its ability to bring BDO to peg in the past 4 contractions. Right now, we are in a contraction and we are confident to be able to bring BDO back to peg very soon.
The Dao Fund is currently Core-Team Operated and will always find the best most strategic moments to use it when necessary to bring BDO back to Peg.
In the spirit of full transparency, our DAO Fund can be tracked easily via our DAO fund dashboard bDollar Dao Fund
Kori: When BDO is above peg users can benefit from owning sBDO as I understand?
bEarn.Fi | bDollar | B:
Yes, 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.
Kori: Great! And at the moment we can use BDO in games and for farming?
bEarn.Fi | bDollar | B:
Yes, for now users can use BDO to play many games and farming (both single stake and liquidity farming). Also, we are going to add more than 20+ games in this quarter, and there will be many more use cases for BDO.
Rafael: Our last question! What does the future hold for bEarn.fi and bDollar.fi?
bEarn.Fi | bDollar | B:
bDollar Protocol is actually just 1 product in a many of products we are currently buidl-ing for the bEarn Ecosystem & Binance Smart Chain.
We are now extremely close to releasing the bLending Platform and we’re now in the final testing phase, ETA will be released this week.
Further Future Plans (being worked on concurrently and separately at its own pace) :
- bEarn’s own DEX with low fees, slippage, and smart routing which also helps with arbitrage losses
- bLucky being out of open beta (more games will be added and debugged, Poker Games and Sports Betting )
- bPepe — NFT Marketplace
- Cross-Chaining to other DeFi networks — PolkaDOT brings our number 1 choice for example.
The focus is on Bearn Fi & bDollar ecosystem growth, adding more use cases for BFI, BDO, sBDO. Further development on the cross-chain bridge, DEX with the order book, & continued improvements to our existing products.
Besides platform development, we will also focus on marketing activities and establishing strategic partnerships and much more.
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Binance Community questions
Question: For project development, the main priority is having enough funds. Is your team financially capable to run this project? Do you have enough funds for development? Can you tell us how your project generates the profit?
bEarn.Fi | bDollar | B:
Yes, we are fully aware about the importance of strong financial support. The good news is that we have enough funds to run the project for at least 3 years, even during the crypto winter!
Question: Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audited it through any of the parties?
bEarn.Fi | bDollar | B:
We have many unit tests (mocked) and integral tests before deploying contracts to mainnets. It’s even stricter for bVaults new strategies (because we need to deal with external farming pools). We have bDollar fully audited by Certik; and the contracts of bVaults, bSwap and bLending is in progress.
Question: Why did you choose to develop token on the ERC-20 platform? What role does blockchain technology play in the Your network?
bEarn.Fi | bDollar | B:
We are on Binance Smart Chain because due to the high gas fees on ETH, Decentralised finance (DeFi) has been increasingly difficult, slow and painful for small retail investors on Ethereum’s network. BSC transactions are faster and cheaper while still maintaining the ability to interact with smart contracts.
Question: The hot new term in crypto is “YIELD FARMING”. Do you have a plan to develop the Yield Farming system?
bEarn.Fi | bDollar | B:
Yes, we have bFarm, bDollar Bank, bDollar Shares, bDollar MultiPeg (and later LP from bLending and bSwap) are all yield farming.
Question: By bringing blending into the bDollar ecosystem it seems that you will become a competitor of Venus. Can you explain how you will be different/ better than them? Why should people choose you instead of Venus?
bEarn.Fi | bDollar | B:
We have been preparing for the bLending for a very long time and we have learnt a lot from the existing lending systems from both Ethereum and BSC. Our bLending will come with some innovative solutions to benefit our users. More details will be released soon!
Question: What is Bpower? How will it fit into the bEarn ecosystem?
bEarn.Fi | bDollar | B:
bPower is our Loyalty program and we will be sharing more details about this in the upcoming days
Question: Apparently, many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is BDO solving, and solutions are you providing?
Andre Natoshi: (CTO)
If you follow bEarn from the beginning, our mission is to generate yield based on opportunities present in the market automatically and redistribute to holders fairly and effectively. All profits from the ecosystem (bVaults, bDollar DAO, bLending, etc..) is to buy back BFI to re-incentive the holders and liquidity providers.
Our bStake is one of the highest APR (~400%) staking pools in the market and we do not mint BFI to pay the stakers, that insane APR is purely from ecosystem profit.
Question: It seems like most people are currently relying on bLend and/or Binance listing to save BDO from its extended contraction from the past several weeks. Do you guys have anything else in development to improve sustainability and reduce the risk of extended contraction such as the one we’ve been experiencing in the last few weeks?
bEarn.Fi | bDollar | B:
The protocol is designed to have both expansion and contraction. We have been in expansion for more than 3 months consecutively and with the current developments, we strongly believe that BDO will be back to peg very soon.
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More exciting news is coming within this month!
For Multi-pegs
- Community vote for the next Multi-Peg
- More details of Coupons
- Brand new UI
For other products
- bLaunch
- bLending
- bPepe (NFTs)
- bSwap (DEX)
- bPower (Loyalty program)
Follow our medium and other channels to not miss any exciting news!!!
Telegram: https://t.me/Bearn_Fi
Discord: https://discord.gg/j2TRcSHRe3
Medium: https://medium.com/@bearn.defi
Twitter: https://twitter.com/bDollar_Fi & https://twitter.com/BearnFi
GitHub: https://github.com/bearn-defi/bdollar-smartcontracts
