What is xBUSD and its benefits?

Seigniorage protocols have been all the rage lately, and for a good reason. They offer a unique opportunity to earn rewards while providing liquidity to a protocol. But they also come with their fair share of challenges.
We believe that our approach with xBUSD has the potential to revolutionize the way seigniorage protocols operate. By merging the successful mechanisms behind seigniorage protocols with our own innovative tokenomics, we are able to create protocol-owned liquidity that is much more resilient to manipulation.
We are excited about the launch of xBUSD in Phase 6 and believe that it has the potential to change the game. Stay tuned for more details!

Salient features of xBUSD

  • YSL AceVault -> YSL holders are able to deposit YSL to earn xBUSD.
  • xBUSD Token -> A seigniorage algorithmic token pegged to BUSD.
  • xBUSD Airdrop -> Purchase bYSL before the snapshot to be part of the xBUSD airdrop event.
  • YSL AceVault Perpetual Ratio -> 10% of BUSD deposits made into the xBUSD vault will be used to market-buy YSL and sent to increase the ratio of the YSL AceVault.

xBUSD Airdrop Event (Phase 6)

In order to secure a share of the exciting $500,000 xBUSD airdrop, make sure you have sent at least 1000 BUSD to the protocol to purchase bYSL and that your bYSL balance does not decrease until the snapshot date. We'll be sure to update you on when that is as we get closer to Phase 4. Stay tuned!
To be eligible for the xBUSD airdrop you must meet the following criteria:
  1. 1.
    First, you must have made a purchase of bYSL equivalent to 1000 BUSD (up until the snapshot has been taken). This can be in one transaction or multiple transactions, but your wallet address must have sent a minimum of 1000 BUSD to the protocol to purchase bYSL. The airdrop will be based on the BUSD value that you send to the protocol, not the value of your bYSL at the time of the snapshot. In other words, the more BUSD you send to purchase bYSL the greater your share of the snapshot.
  2. 2.
    Second, you must maintain your balance until the snapshot for the airdrop has been taken. The snapshot will be taken either during Phase 3 or Phase 4 (date TBA). This means you will need to hold onto your bYSL and must not make any transfer or sell any amount for BUSD before the snapshot is performed. In other words, if any amount of bYSL leaves your wallet, you will be excluded from the snapshot.