What is xBUSD and its benefits?

Seigniorage protocols have been all the rage lately, and for 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 3 and believe that it has the potential to change the game. Stay tuned for more details!
πŸ‘‰ Learn how you can be part of an exclusive airdrop for xBUSD by simply holding bYSL!

Salient features of xBUSD

  • xBUSD token - a seigniorage algorithmic token pegged to BUSD.
  • bYSL Vault - bYSL holders are able to deposit bYSL to earn xBUSD.
  • xBUSD Vault - xBUSD holders are able to deposit xBUSD to earn BUSD.
  • xBUSD Airdrop - purchase bYSL during Phase 1 to be part of the xBUSD airdrop.
  • xBUSD Vault Burn - 10% of BUSD deposits will be used to purchase and burn xYSL.
Please note: 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.
  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 2 or Phase 3 (date TBA). This means you will need to hold onto your bYSL and not make any transfer or sacrifice 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.
So, in order to secure a share of this exciting 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 2 and 3. Stay tuned!