We’re creating truly decentralized stables: pegged to your home currency, but collateralized by ETH & BTC (and other select, decentralized large-cap coins in the future).
We made sure it’s disconnected from any existing, centralized stables (so it can not be blacklisted, paused, censored, or otherwise affected by any centralized authority). Even our infrastructure layer is running on StackOS, the decentralized cloud.
We’re deriving from the great work done by the FRAX team, who managed to build very robust foundations for a partially collateralized, algorithmic stablecoin.
We’ve added some additional logic to support multiple fiat currencies and not just USD, as well as changed the collateral to be only fully decentralised BTC & ETH.
We've also refined some of the redemption mechanisms in order to remove any incentivize for a "bank run" and have a fairer collateral distribution upon redemption.
The specific BD-Stable token naming convention is BD + country code (e.g. BDAU for Australian Dollar Stablecoin). We will be gradually releasing a few major currencies (BDEU, BDAU and BDUK) and will add more stables based on community feedback.
[of that 50%,] 35% is dedicated for partnerships, integrations and new BD-Stables
[of that 50%,] 15% is reserved (with appropriate cliff and time locking) for the core team that will continue developing and maintaining the protocol.
[The other] 50% are farmed via liquidity mining program over 5 years
[Years: Y1 - 20%, Y2 - 12.5%, Y3 - 10%, 4 - 5%, Y5 - 2.5%]
Footnotes