BSSB（BitStable）Project Analysis
1. Research Institute Review
$DAII and $BSSB constitute its dual-token system. $BSSB serves as the governance token of the platform, used by the community for system maintenance and management. When users need to redeem collateral on the Ethereum chain or USDT, they must redeem $DAII on the BitStable platform to restore balance. $DAII is a stablecoin, deriving its value and stability from the robustness of assets in the Bitcoin ecosystem, including BRC20, RSK, and Lightning Network. DAII can be cross-chained to Ethereum through BitStable to enhance liquidity. $DAII minted on the Bitcoin blockchain by the project can be bridged as ERC20 tokens to Ethereum. Users on the Ethereum chain holding $DAII can perform one-to-one swaps using stablecoins like USDT or USDC, then cross-chain to the Bitcoin chain for economic activities.
2. Recent Developments
The project is an application-based project within the Bitcoin ecosystem, developed collaboratively by Ankr and Auction. It aims to bring Ethereum liquidity into the Bitcoin ecosystem
3.Project Introduction
The DAII module in the BitStable protocol is designed as a foundational feature for generating and managing DAII stablecoins on the Bitcoin blockchain. Due to the limitations of Bitcoin in smart contract functionality, the DAII module focuses on simplifying the minting and burning processes using ORDI assets in the initial stages. BitStable is a decentralized asset protocol based on the Bitcoin network, allowing users to generate $DAII stablecoins within the Bitcoin ecosystem through the platform.
4.Token Utility
$BSSB token holders can govern various platform parameters and decisions through voting, including the selection of collateral assets, setting the over-collateralization ratio, and fee collection.
5.Token Economic Model
The total supply of $BSSB is 21 million, with a fundraising target of $500,000. Apart from 50% publicly available on Bounce Finance, the team will hold 5% of $BSSB (locked for 6 months and linearly unlocked for 15 months). Airdrop allocation is 3.5%, staking rewards are 36.5%, and LP accounts for 5% (indefinitely locked). $BSSB acquisition on Bounce Finance has two allocation rounds: 60% through $AUCTION staking and 40% through auction (1 $BSSB = 0.0000233 ETH).
6.Investment Institutions
None.
7.Community
3470 followers on Twitter.
8.Future Outlook
BitStable aims to become a leading decentralized asset protocol in the Bitcoin ecosystem, providing users with stable, secure, liquid, and cross-chain synthetic asset services. The project plans to introduce more collateral assets, synthetic assets, and cross-chain solutions in the future to meet diverse user needs and preferences. BitStable also aims to establish an open, transparent, and inclusive community through the governance mechanism of $BSSB, enabling users to participate in the platform's development and improvement.
9. Project Highlights
To facilitate the participation of users from other chains in Bitcoin chain economic activities, BitStable will cross-chain a portion of DAII to Ethereum. Users on Ethereum can exchange DAII for USDT at a one-to-one ratio and then cross-chain to the Bitcoin chain.
Basic Information
Project Introduction: The DAII module within the BitStable protocol is a cornerstone feature designed specifically for generating and managing the DAII stablecoin on the Bitcoin blockchain. Given the limitations of Bitcoin in smart contract functionality, the DAII module focuses on simplifying the minting and burning processes using ORDI assets in the initial stages. BitStable is a decentralized asset protocol based on the Bitcoin network, allowing users to generate $DAII stablecoins within the Bitcoin ecosystem through the platform.
Token Full Name: BitStable
Token Name: BSSB
Project Website: https://bitstable.finance/
Project Documentation: None
Block Explorer: https://etherscan.io/address/0xda31d0d1bc934fc34f7189e38a413ca0a5e8b44f#code
Liquidity Query: https://etherscan.io/token/0xda31d0d1bc934fc34f7189e38a413ca0a5e8b44f#tokenTrade
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CoinW Institute
2023/12/5