Lockers & EVM to Bitcoin Bonding

Borrowing on BPEG'd with Omnichain NFT's

Lockers are the vaults you deposit your Bitcoin native NFT's or EVM based Bonded NFT's to acquire loans from lenders on the protocol. Dependant on protocol usage, each locker will have more or less available assets to borrow for your given NFT at different periods. EVM Bonded NFT's will be locked into our interoperable Locker Contract on Ehereum and Wrapped 1:1 via the BPEG SPV*. There will then be a mirrored mint event on the Stacks bitcoin layer-2 to seamlessly port a derivative equivalent version of your existing EVM based NFT onto the bitcoin blockchain. After which, you can carry out all processes similar to Bitcoin native collection on the BPEG'd platform.

Integrity of traits for Bonded Ethereum NFT

Utilising Stacks Smart Contract Logic, BPEG'd is able to directly mirror all elements of your Ethereum NFT when it is bonded over to Bitcoin for usage on BPEG to acquire loans or liquid tokens such as STX,xBTC and USDb.

(contract-call?

    'SC3H92H297DX3YDPFHZGH90G8Z4NPH4VE8E83YWAQ.registrar
    register-name
    name-to-register)

• Dynamic dispatch: the callee is passed as an argument, and typed as a trait reference ().

(define-public (swap (token-a <can-transfer-tokens>)
                     (amount-a uint)
                     (owner-a principal)
                     (token-b <can-transfer-tokens>)
                     (amount-b uint)
                     (owner-b principal)))
     (begin
         (unwrap! (contract-call? token-a transfer-from? owner-a owner-b amount-a))
         (unwrap! (contract-call? token-b transfer-from? owner-b owner-a amount-b))))

Traits are locally defined:

(define-trait can-transfer-tokens (
    (transfer-from? (principal principal uint) (response uint)))

Or imported from an BPEG'd existing contract:

(use-trait can-transfer-tokens
    'SC3H92H297DX3YDPFHZGH90G8Z4NPH4VE8E83YWAQ.contract-defining-trait.can-transfer-tokens)

Locker Tiers & Fees

To balance the demand and supply metrics derived borrowing/lending rates BPEG'd utilises a Smart Locker system. Lockers are BPEG'd Vaults that bond and dynamically distribute yield at current best rate parameters. BPEG'd uses a tiered vault structure (X1, X2, X3, X4) for charging interest.

According to demand, each collection can have new lockers opened with unique debt ceilings as defined by the current rate parameters set by BPEGDAO. Interest is dynamically accrued on a block per block emission basis.

The tiers charges fees as follow:

Borrow Currency	Tier-X1 Annual Interest Rate	Tier-X2 Annual Interest Rate
STX	1.5%	5%
BTCx	5%	10%
USDb	1%	—

Depending on availability of your desired asset in each borrowing locker you will be dynamically bonded into 1 or 2 tiers to sufficiently cover your required loan. If a borrow amount exceeds the available BTCx/USDb/STX balances it will automatically be smart migrated to the next locker with the available amount.