February 22nd, 2021
Bolt Dollar is an algorithmic stablecoin on the Binance Smart Chain (BSC) that serves innovation and growth of the BSC ecosystem.
Bolt Dollar started as a meme coin forked from bDollar which is fork of BasisCash then named Bat True Dollar, an ambitious project launched in January 2021 that stalled after a rocky start. The developer of Bat True Dollar decided that instead of letting the project go to waste, the community could take over development of the project and continue where they left off. Putting together their collective talents, the community rallied around a new concept that gave birth to Bolt Dollar formed with a foundation of community governance through a Distributed Autonomous Organization. This DAO has rebranded the project as Bolt Dollar using the existing contracts. This cedes ownership of the collective vision to the owners of Bolt Shares which are the governance token and allows them to guide the future governance of Bolt Dollar.
The Bolt Dollar community and leadership team intends to change the dynamics of this project by providing innovative tokenomics, developing games & profit generation strategies and seeking collaboration & partnerships in the BSC ecosystem. As with any system, we encourage the community to do their own research before investing, and no statement here should be considered as finance advice.
Operational Planning Team Members for the DAO
• Salt Miner
• CryptoWayne –Manager
• Pikachu Crypto — Social Media
• Horn Solo
• Pikachu Crypto
1. Here is how Bolt Dollar works:
BoltDollar is an algorithmic stablecoin that can serve Defi applications on the Binance Smart Chain. BoltDollar (BTD) is a seigniorage-based stablecoin loosely pegged to the US dollar.
The system uses 3 tokens: BoltDollar (BTD), BoltShare (BTS) and BoltBond (BTB).
- When BTD > $1.02, fresh BTD is minted, sent to the Treasury (if it is not full) and rewarded to BTS stakers in the boardroom.
- When BTD < $0.98, bonds (BTB) can be bought at a discount to the BTD price. These Bonds can only be morphed back into BTD in the ratio of 1:1 swap when the price of BTD is above $1.02.
2. How do I buy BTD/BTS?
You can buy at PancakeSwap on BSC (Binance Smart Chain).
Note: BTD, BTS and BTB are BEP20 tokens, which are not compatible on the Ethereum network. Interaction with the project should always be conducted through MetaMask browser extension wallet. In the case you managed to utilize another wallet to deposit and withdraw tokens, the developers will not take responsibility in case any error occurs resulting in loss of funds.
3. How do I farm BTS?
To farm BTS, you need to provide liquidity to one of the following PancakeSwap pools and stake your PancakeSwap LP tokens at https://boltdollar.finance/
BTD — BUSD :
BTS — BUSD :
4. What is Seigniorage?
Now that the Boardroom has opened, it is possible to stake your BoltShares within the boardroom. At the start of each epoch when BTD is above $1.02, any BTS staked in the boardroom will be counted as Seigniorage and earn rewards.
An epoch occurs every 8 hours at which time the 8-hour time-weighted average price (TWAP) calculation of BTD is fed into the stabilization mechanism. If TWAP > $1.02, the supply of BTD is increased using the formula CirculatingSupply * (oraclePrice-1).
These newly minted BTD are sent to the Treasury (if it is not full) then awarded to and shared by all the BoltShares (BTS) staked in the boardroom.
5. How do I earn Seigniorage (BTD Rewards)?
You need to stake your BoltShare (BTS) in the Boardroom at https://boltdollar.finance/
Note 1: Your shares must be staked before Seigniorage time (epoch timer reset) in order to earn rewards.
Note 2: The minting transaction sometimes takes a few minutes to execute. Please confirm that your BTD rewards are shown in the Boardroom before you unstake, or you could forfeit your rewards.
Note 3: You can claim your reward after 3 epochs and unstake your share capital after 6 epochs. Every interaction with the boardroom resets the time-lock: that means it will reset with every deposit of BTS or withdrawal of BTD/BTS.
6. How are BoltShare (BTS) distributed ?
The supply of BTS is capped at 179,999 tokens, which will be distributed as follows:
- BTD-BUSD LPs — 28,000 BTS/week at launch, declining by 20% every week for a total of 139,999 BTS over the course of 1 year.
- BTS-BUSD LPs — 39,999 BTS will be distributed linearly over the course of 1 year without any declining mechanism.
Are BoltBonds unlimited ?
The maximum supply of BTB, in theory, is unlimited. However, the purchasable amount of BTB each epoch is currently set at 3%. This could be open to change later via a governance proposal vote.
For additional details on Algorithmic Stablecoins:
The algorithmic stablecoin concept has been around for awhile. However, it has been a relatively new innovation in the DeFi market ecosystem and many are yet to understand it. Below is an article explaining in detail as well as a Youtube link for those with busy hands but free ears.
This is not financial advice. Always DYOR before investing. Only invest what you can afford to lose.
This document has been approved by the Bolt Dollar board and can be consider official.
Writer(s): Discord members paradoxian#4470 and revolved#7165.
Details in all articles can be changed through revisits to fit the changes in the project itself.