Roadmap & FAQ SmartDollar.finance
SmartDollar
Smart Dollar (SD) is an BEP-20 self-stabilizing decentralized censorship-resistant non-collateral backed BUSD stablecoin on Binance Smart Chain.
SECTION 1 — Tokens
SECTION 2 — Tokens & Allocations
SECTION 3 — The Dao
SECTION 4 — Liquidity
SECTION 5 — FAQ
SECTION 6 — Infos
SECTION 1: Tokens
(1) SD
• Token Address : 0x69eb9dda7776dfa2fef16b61d0ada70f4bc1a3ca
• Symbol : SD
• Launch Date: 13 January 2020
• How to Earn SD 1 : Farmed by providing liquidity SD/BUSD
• How to Earn SD 2 : Stake SD in DAO
SECTION 2: Token distribution & allocations
After Phase 0, Smart Dollar is designed so that only one of these 2 phases can be executed :
(Epoch = Hours)
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PHASE 1 : Expansion Phase, the price is above $1.
All the DAO-users and Farming-users are earning reward, the supply expanding to force the system get back to $1.
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PHASE 2 : Contraction Phase, the price is bellow $1.
DAO-users and Farming-users are not earning reward and all users can burn SD to receive coupons in exchange to help the protocol get back to $1.
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Phase 0 : Bootstrap, the price doesn’t matter.
The bootstrap phase force the system reward to act like the market price of SD was 1.53,
All the users are earnings reward as if the price was 1.53 even if we are in contraction phase, until EPOCH 300, after we will enter Phase 1 or Phase 1 in function or the market price.
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Team fund allocations :
Every EPOCH, the system reward 50 SD to the team wallet.
1200 SD Daily,
- 400 SD are burn
- 800 SD for team fund & treasury
The team doesn’t’ not hold tokens, this is the only revenue the team receives from SD contracts.
SECTION 3 : “DAO”
The DAO section in https://smartdollar.finance/ give you the opportunity to “ STAKE “ SD and earn SD based on a DAO APY.
To participate in the DAO your SD STAKE has to go through 2 phases, STAGED & BOND.
Staged = Where the users wait to withdraw.
Bond = Where the users earn SD reward in auto-compound.
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Reward : The DAO-SD rewards are going to be added to the users initial SD STAKE, update every EPOCH approx, users are going to be able to see the initial stake grow.
Withdraw time lock : If the DAO-users wants to withdraw, your SD STAKE has to wait 36 EPOCH (HOURS) in the STAGED phases to be able to withdraw.
How to participate to DAO Tutorials :
Warning: Any bond/unbond activities will restart the lockup timer! If you unbound , you will have to wait for 36 epochs to be able to withdraw.
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SECTION 4 : “Liquidity”
The Liquidity section in https://smartdollar.finance/ give you the opportunity to “FARM“ SD/BUSD and earn SD based on a Farming APY.
To participate in the DAO your SD STAKE has to go through 2 phases, STAGED & BOND.
Staged = Where the users wait to withdraw.
Bond = Where the users earn SD reward in auto-compound.
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Reward : The Liquidity-Users rewards are going to be available in the CLAIM BOX, update every EPOCH approx, users are going to be able to unbound, claim the reward, then bound immediately after and keep earning reward.
(Users have to wait 12 hours for withdraw the claim reward, but users still earn reward if they bound the FLIP)
Withdraw time lock : If the DAO-users wants to withdraw, your SD STAKE has to wait 36 EPOCH (HOURS) in the STAGED phases to be able to withdraw.
How to ADD LIQUIDITY (SD/BUSD) Tutorials :
Bonding events will restart the lockup timer & users have to Unbond to make rewards claimable after the users status is Unlocked
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SECTION 5 : FAQ
- What is Smart Dollar?
Smart Dollar (SD) is an BEP-20 self-stabilizing decentralized censorship-resistant non-collateral backed BUSD stablecoin.
- How is SD different from other stablecoins?
SD is a fully decentralized stablecoin. Unlike other centralized coins, e.g. USDT, SD has no 1:1 backing through a centralized USD treasury. To optimize the capital efficiency, SD doesn’t use any collateral, unlike DAI or sUSD. The voluntary elastic supply mechanic is different from Ampleforth (AMPL) and Based (BASED). SD is inspired by Empty Set Dollar (ESD), but yet responds faster to market demand through more frequent epochs, extended supply caps, and a modified supply extension/contraction formula.
- Where can I buy SD?
You can buy SD using this link : https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x69eb9dda7776dfa2fef16b61d0ada70f4bc1a3ca or via the link in the ‘Buy’ menu.
Contract address : 0x69eb9dda7776dfa2fef16b61d0ada70f4bc1a3ca
- How to earn SD from DAO?
Bond your SD in the DAO to earn more SD at each epoch during the expansion phase.
- Buy SD on Pancake Swap using the ‘Buy’ menu.
- Go to the ‘DAO’ menu
- Approve the Token in the ‘Stage’ section and deposit the desired amount of SD.
- ‘Bond’ your SD in the ‘BOND’ section to start earning SD in auto-compound mode.
- You are now bonded to the DAO! Check your ‘Status’ to see if your SD are Lock or Unlock.
Advantage: Your rewards are auto-compounded.
To withdraw : Unbond your SD in the ‘Bond’ section and withdraw in the ‘Stage’ section. It takes 36 epoch to unlock the Withdraw button and any bond/unbond activities will restart the lockup time for 36 epoch.
- How can I earn from Providing Liquidity?
- Buy the equivalent amount of SD, and BUSD in Pancake Swap using the ‘Buy’ menu.
- Provide liquidity of SD, and BUSD in Pancake Swap, you will receive a LP Token. (See the links in the Trade menu).
- Go to the ‘Liquidity’ menu.
- Approve the Token in the ‘Stage’ section and deposit your LP Token
- ‘Bond’ your LP in the ‘BOND’ section to start earning SD.
Advantage: Lockup of only 12 hours.
To withdraw : Unbond your LP Token in the ‘Bond’ section and withdraw in the ‘Stage’ section. It takes 12 epoch to unlock the Withdraw button and any bond/unbond activities will restart the lockup time for 12 epoch.
- What is the Bootstrap?
The Bootstrapping period is set for the first 300 epoch. The supply growth per epoch will be fixed at 4.5% per epoch for the total duration of the Bootstrapping period.
- How is the supply regulated?
Once the end of the Bootstrapping period, the supply regulation will solely depend on the Uniswap TWAP (Time-Weighted-Average-Price) of SD.
- What is the Expansion phase?
The Expansion phase occurs when the TWAP price is higher than < 1$. During the Expansion phase supply of SD will grow, issuing new SD. The SD issued will be distributed to DAO Bonders and Bonded LP Tokens in a ratio of 60% for DAO and 40% to LPs. The maximal supply expansion is capped at 10% (TWAP= 2.20$) per epoch.
- How to benefit from the supply expansion?
Bond your SD inside the DAO, or bond your LP tokens inside the Liquidity menu, and start earning!
- What is the Contraction phase?
The Contraction phase occurs when the TWAP price is lower than > 1$. During the Contraction phase ‘debt’ will be minted according to the supply delta formula for contraction.
If SD faces a Contraction phase (debt cycle), the DAO and LPs will stop earning rewards as the supply is not increasing.
- How to benefit from the Contraction phase?
To bring back the peg to 1$ and benefit from a debt cycle, you can purchase the occurring debt via the so-called ‘Coupons’. As soon as there is an epoch with a TWAP price higher than > 1$ again, the ‘Coupons’ can be redeemed for SD until the entire debt in the system is cleared.
- What are ‘Coupons’?
Coupons are financial instruments representing a debt. They can be purchased by burning SD from your wallet and redeemed for SD when the TWAP price is back or higher to > 1$. The amount of coupons redeemable per epoch is equivalent to the supply expansion and only when all coupons are redeemed, will the bounded assets start earning rewards again ( e.g. the supply increases by 50.000 SD, 50.000 coupons will be redeemable). Note that the coupons expire after 360 epochs (30 days).
SECTION 6 : INFOS
Website : https://smartdollar.finance/
Telegram : https://t.me/ssdprotocol
Twitter : https://twitter.com/ssdprotocol
Github : https://github.com/smartdollar/protocol
Gitbook :https://smartdollar-ssdprotocol.gitbook.io/smartdollar-docs/
