What do you think, could we pivot to something like this?
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.