I’m sure you have seen all the DeFi dapps out there that exist in order to create stable coins?
Here is one example.
These stable DeFi coins rake in millions and millions of dollars in order to maintain decentralized dollar pegs.
If we can pivot to DeFi we could grow 1000x in value almost overnight.
Cross chain Decentralized finance is fast becoming the hottest thing in crypto, and Nushares has done it for years.
Even though Nushares has done DEFI for years no one knows it. We need updates, a new GUI, cross chain liquidity pools, and stable coin pegs that are generated from staking. Take a look at the DeFi world to see how they create something like DAI or the VAI stable coin for example.
We let all these competitors steal our lunch. We were one of the first decentralized Stable coins for years.
ETH based defi is having serious problems now because of sky-high GAS fees. Nushares has some of the lowest fees in crypto we need to highlight this.
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 $1 target price after bond redemption, the contract mints an appropriate amount of new BDO and this will be distributed to the Boardroom Stakers.
Those are actually copies of NuBits
I total agree with you. Buy a dola copy from Nubits at 1$, you can buy Nubits right now with 0.3$ , and they are working hard for get peg back
Yes, we have the earlist liquidity provider mining but in a centralized way. Open your eyes, this world is changing very fast, DeFi is doing much better than Nu now: stable coin, DEX,AMM, oracle, huge TVL etc… Nu is obsolete.
All we dreamed in white paper has already been accomplished by DeFi, time to move on, buddies…
Decentralized stable coins are the most important thing in crypto right now. It isn’t too late if we can pivot and rebrand ourselves as The first stable coin. We would need to make some changes and use bdollar or vai as a template… We can do it though. And if we get it right we’ll get rich.
No one cares which is the first stable coin, stop dreaming please.
This isn’t hard to understand. The market is clamoring for decentralized dollar pegs. We have a decentralized dollar coin. In fact we were the first. If we can rebrand and tweak some stuff we can become rich beyond our wildest dreams.
All we need is some news, some updates. We should try to copy the liquidity farms that exist in order to create stable dollar coins.
If we can either fork or develop a front end like the other stable dollar coins we can become rich rich rich.
I agree if we do nothing we die. But there is potential here.
Notice how close we are to restoring peg. That last week burn program migh get all very close to restoring peg, but someone decide to sell so high, what he surely will regret in a few weeks time.
At least they are honest people and honestly trying to restore peg. And this is not easily found in this space. I appreciate this team.