BPEG'd
  • Introduction to NFT Money Markets on Bitcoin & Beyond
  • About the Protocol
    • Supported Collections
    • Lending Mechanics
      • Lockers & EVM to Bitcoin Bonding
      • Loan-to-Value Ratios (LTV)
      • Insurance & Liquidation Events
      • BPEG'd Smart Oracle
    • Step-by-Step Guide
    • Roadmap
  • Tokenomics
    • BPEG Token Breakdown
    • $xBTC
    • $USDb
    • Reward Farming Guide
  • BPEGDAO by Multisafe
    • Introducing the BPEG DAO
  • Other Links
    • Protocol Links
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  1. Tokenomics

$USDb

Introduction

USDb (Genesis Version) is a stable coin implemented as a mirrored Stacks (explorer) & Ethereum token on both networks. It is specifically designed to maintain 1:1 parity with the US Dollar its value is backed by collateral (Bitcoin) on the Stacks Clarity Layer which is locked up in our Locker smart contract and smart pooled into the Ethereum based Curve factory pool with a 3Crv (combination of USDC, USDT, and DAI) pairing. Thus priming BPEG to expand its money market to any EVM compatible blockchain in accordance with our Roadmap.

USDb is created by users borrowing against their NFT's in the loan origination/borrow agreement process as collateral.

  1. Anyone can create new USDb by depositing STX/BTC/USDC/DAI/FRAX/USDT as collateral and drawing an appropriate amount of USDb. In the balancing equation, collateral will then be segregated and locked to secure the issuance.

  2. Locked collateral can be recovered at any time by paying back the borrowed USDb (plus a stability fee).

Thus, all USDb in circulation is at all times backed by at least as much collateral. In fact BPEG'd architecture only allows borrowing up to what our DAO considers to be a safe ratio (currently 200%).

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Last updated 2 years ago