Got amazed by the DOGE phenomenon ?
We are pleased to “bring” DOGE to our community via the next Multi-Peg: bpDOGE
bpDOGE mechanism
bpDOGE trades below the DOGE’s current market price
When the bpDOGE price is below the DOGE’s current market price, token holders can purchase Coupons and bpDOGE will be burnt to reduce the circulating supply when users redeem bpDOGE tokens with a 1:1 ratio.
In case of redemption, an amount of bpDOGE will be minted with premium with the Coupons that have been redeemed.
bpDOGE trades above the DOGE’s current market price
When bpDOGE price is above the DOGE’s current market price, the token supply will have to expand to push it back down to the DOGE’s current market price and the contract will allow the redemption of the Coupons.
When the price of bpDOGE continues trading above the DOGE’s current market price after Coupons redemption, the contract mints an appropriate amount of new bpDOGE and this will be distributed to the Boardroom Stakers.
Peg bpDOGE
The TWAP of bpDOGE will be subsequently calculated from 2 liquidity pools: rate of bpDOGE over BNB and rate of bpDOGE over BDO.
To get the final rate of bpDOGE over DOGE, we use price feeds of DOGE/USD and BNB/USD powered by ChainLink oracle services to ensure maximal robustness and efficiency. The rate of BDO/USD will be the latest TWAP of BDO (assumed that BUSD is always 1 dollar).
Expansion phase happens when bpDOGE TWAP above DOGE’s current market price in an Epoch with an example scenario:
bpDOGE distribution
- Distribution period: 185 days
- Stake BDO, sBDO, bBDO (1.5x), sBFI, xBFI, CAKE-LP bpDOT/BDO (1.5x) CAKE-LP bpEUR/BDO (1.5x) CAKE-LP bpUNI/BDO (1.5x), CAKE-LP bpXAU/BDO (1.5x), CAKE-LP bpJPY/BDO (1.5x)
- Reward multipliers will be amended overtime
- Initial supply: 200,000 bpDOGE
- Day 1 to day 5: 10,000 bpDOGE daily
- Day 6 to day 26: 2,500 bpDOGE daily
- Day 27 to day 180: 500 bpDOGE daily
- 17,500 bpDOGE to DAO for initial liquidity supply and 3,000 bpDOGE to Marketing Fund
- Block countdown: https://bscscan.com/block/countdown/6790000
- Distribution of bpDOGE during Expansion: 57.5% of newly minted bpDOGE goes to DAO, 5% will be sent to Marketing Fund, while the rest 37.5% toward Boardroom Stakers
- During Contraction (the Debt phase): 50% of minted bpDOGE will be sent to the Treasury for bpDOGE holders to participate in Coupons redemption; 30% for Boardroom stakers and 20% toward DAO Fund
Reward rate for Shares Pools (Multi-Pegs)
- Stake bpDOGE/BNB (start 0.5x) earn sBDO
- bpDOGE/BDO (start 0.25x) earn sBDO
- Reward multipliers will be amended overtime
- Start block: https://bscscan.com/block/countdown/6805000
Boardroom with bpDOGE expansion reward: From epoch #448 (Fri 22 Apr 2021 06:00:00 AM UTC+0)
About bEarn Fi
bEarn Fi is a cross-chain product in Decentralized Finance (DeFi) that at its core provides yield generation, algorithmic stablecoin, gaming aggregation, bridge, treasury, lottery, lending and governance on multi-chain: Binance Smart Chain blockchain (BSC) and Ethereum blockchain.
Stay tuned for more updates!!!
Community channels:
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
