The future of Bolt Dollar
March 23rd, 2021
As every product manager can attest roadmaps can be a fickle thing. The dev team wants to work in peace while they build their solution, stakeholders are clamoring for ‘feature X’ and then there’s the sales department that has sold that same feature before it left the design phase. On the BSC DeFi scene there’s also another factor: thousands of investors that are active in Telegram or Discord and who are (rightfully so) emotional about the state of their investment.
The issue with roadmaps is that people tend to see the represented items / dates as ‘facts’ that will never change. But we’re living in an agile world, especially in DeFi, and what’s planned today can be completely different a few days later.
But a roadmap can also give external stakeholders valuable insight into the direction of a project. To enable this the Bolt Dollar team has been hard at work documenting a large number of activities and plans for the Bolt Dollar ecosystem. Our strategy is a long term one:
Build a healthy financial ecosystem based on the Bolt Dollar algorithmic stablecoin.
The team has developed several strategies to strengthen Bolt Dollar, improve its use cases, update the old website and enable future partnerships with big names within the DeFi scene. But you didn’t come here for a long list of words. You came here for our plans for 2021. So without further ado, we’d like to present you the Bolt Dollar roadmap for 2021.
As you can see the roadmap is divided into several phases. We’ll detail these below and explain some of the items on our to-do.
Phase 1: Rebranding (done)
We’ve completed the rebranding phase, changing the original Bat Dollar into Bolt Dollar. After taking over the codebase from the original developer an internal Audit was done to establish its security. Some small tasks remain like changing the listing name of our token on various exchanges and websites. A lot of work has also gone into the new design of Bolt Dollar. With a new website right around the corner.
Phase 2: Website 2.0 launch
Our next big hurdle will be the launch of the new website. The previous ‘medieval game theme’ website by the original dev has some technical issues as well as a design that doesn’t befit a serious stablecoin. But the new website isn’t just a reskin and some fixes; it’s a completely new platform with a large list of features.
New banks / vaults
To strengthen the BTD ecosystem several new banks and vaults have been implemented, as well as single asset staking. These contracts have been expanded with anti-parasitic measures to prevent other yield aggregators from taking actions that could impact BTD.
Wallet support 2.0
The old website only worked well with metamask and a desktop browser. With the launch of our new site, a larger list of wallets will be supported enabling you to manage your finances with your mobile phone.
Easy LP stake
With the influx of new players to DeFi, it has become increasingly clear that creating LP tokens can be complex. The new site will have a feature that will allow investors to stake BNB and the site will exchange the BNB into the individual tokens and create the relevant LP token pair.
Security has always been an important factor in Bolt Dollar’s development. With the Binance smart chain implementation of Gnosis, the team will implement a multi-sig strategy and spread the keys over a select group of community members who will ensure its safety.
Bolt Dollar currently has no single source of information that can provide details on the workings of the protocol, the boardroom or the bond system. But this problem will be resolved soon. A lot of work has gone into writing a detailed Gitbook that will explain the different facets of Bolt Dollar.
Phase 3: Strengthening Bolt Dollar
After the launch of the website, we will focus on ways to strengthen the ecosystem. The new website enables us to set up vaults that will feed a Bolt Dollar treasury so we can pay for things like external audits, marketing opportunities, etc.
Another large item in this phase is the stabilization mechanism for Bolt Dollar. The current expansion of 3% is not sustainable and the team wants to implement several ‘dials and levers’ to stabilize the expanse and the token value.
Phase 4: DAO implementation
With the implementation of a proper voting system, Bolt Dollar will change into a DAO, enabling community members to vote on the direction of the ecosystem. The optional projects we can start after the DAO launches are marked in grey on our roadmap.
During this phase, we will have amassed enough funds to pay for external audits of Bolt Dollar and set that process in motion.
The future of Bolt Dollar is looking bright and we hope you’re a part of it!
- Author: denannl#6551 (Discord)
- Website: Boltdollar
- Discord: https://discord.gg/AnQKcQeA4G
- Telegram: https://t.me/boltdollar
- Twitter: https://twitter.com/bolt_dollar
This document has been approved by the Bolt Dollar board and can be considered official. Details in this article can change due to changes in the direction of the project.