🦬TOKENS
PLEASE READ CAREFULLY!
ALL TOKENS AND SMART CONTRACT ADDRESSES WILL BE RENOUNCED
BUL - Medium of Exchange
Contract: 0x64Fb19458929766C14FE71bd60b3774c860a7c1d
The BUL token is designed to be used as a medium of exchange. The built-in stability mechanisms within the protocol aim to maintain BUL's peg of 100 BUL = 1 Binance Coin (BNB) in the long run.
xBUL - Governance Token of BUL Finance
Contract: 0x4159D8cC8b3594024D4e2b3c5618Bf533960ABc2
xBUL is the governance token of BUL Protocol. It can be obtained by staking BUL.
BULSHARES - BUL Shares
Contract: 0xdA85Fb438004d85c9c36CbA223D3e5c4EB911478
BUL Shares (BULSHARE) are one of the ways to measure the value of the BUL Finance Protocol and shareholder trust in its ability to consistently maintain BUL close to peg. During epoch expansions the protocol mints BUL and distributes it proportionally to all BULSHARE holders who have staked their tokens in the Boardroom.
BULSHARE has a maximum total supply of 70,000 tokens distributed as follows:
Treasury/DAO Allocation: 5,500 BULSHARE distributed linearly 12 months
Team Allocation: 5,000 BULSHARE distributed linearly over 12 months
Rewards: 59,500 BULSHARE are allocated for liquidity providers in two farming pools for 12 months
Initial mint: 1 BULSHARE minted upon contract creation for the initial pool
BULBONDS
Contract: 0x06dA23426d8cfab8058cf974ec1C8ea3fc042487
The main purpose of BUL Bonds (BULBOND) is to help incentivise fluctuations in the BUL supply during epoch contraction periods. When the TWAP (time-weighted average price) of BUL falls below 100 to 1 BNB, BULBONDs are issued and can be bought with BUL at the current price. Exchanging BUL for BULBOND burns BUL tokens, taking them out of circulation (deflation) and helps to get the price back up to peg. These BULBOND can be redeemed for BUL when the price is above peg in the future, plus a premium based on how high above peg we currently are. This conversely creates inflation and subsequent sell pressure for BUL when it is above peg, helping to push it back toward 100 BUL to 1 BNB ratio.
Unlike early algorithmic protocols, BULBONDs do not have expiration dates.
All BULBOND holders will be able to redeem their BULBOND for BUL tokens as long as the treasury has a positive BUL balance, which typically happens when the protocol is in epoch expansion periods.
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