🔥Boiler BUSD - Stable Token
Last updated
Last updated
Boiler Token [1 boiler = 1 USD equivalent] The Boiler Token is an algorithmic Stable coin issued by SAUNA FINANCE, backed by BUSD: "80%" + SAUNA: "the number of SAUNA bought for 20% at Mint".
The Boiler is 80% backed by BUSD, which is fully backed by the dollar. The remaining 20% is backed by SAUNA. For example, if you try to get 10.0boiler, the boiler's Minting engine will ask for 10.0BUSD. From that 10.0BUSD, you keep 8.0BUSD in the Boiler contract, purchase 2.0BUSD worth of SAUNA on Pancakeswap, and keep the purchased SAUNA in the Boiler contract.
When you redeem, the 20% value is backed by the "number of SAUNA purchased for 20% at the time of Mint" stored in the Boiler contract. The sauna you receive when redeeming is determined by the percentage of Boiler you redeem.
E.g. if the total number of boilers issued is 100 boilers, and you redeem 10 boilers, you will receive 10% of the "number of SAUNA bought for 20% at Mint" stored.
The Pancakeswap also has a Boiler-BUSD pair of L P's and assumes a 1:1 price.
*The mechanism to maintain this price is assumed to be maintained by an arbitrage mechanism for investors.
E.g. if 1 Boiler is higher than 1 BUSD, investors will earn money by MINTing 1 Boiler at 1 BUSD and exchanging the Boiler for BUSD at Pancakeswap. If the 1BUSD is higher than the 1Boiler, you can buy the boiler on Pancakeswap and redeem it for a total profit. The natural order of things is to create arbitrage opportunities for each other to maintain a stable price.
So what are the benefits for investors of LP the Boiler-BUSD pair?
The advantage for investors is that they can get SAUNA as EARN in LP pairs between Stable Tokens with little or no in-permanent loss.
20% SAUNA is bought for every boiler MINT, which helps to increase the price, but it is discharged as EARN in LP farming.
Every time a boiler is MINTed, 20% SAUNA is bought, which helps to raise the price, but in LP farming, SAUNA is discharged as EARN. We hope that this interaction of buying and selling pressures will add depth and stability to the market price.
In addition, Pancakeswap will provide liquidity in Boiler/SAUNA pairs, enabling trading of Stable Token and SAUNA, which has not been available on Pancakeswap.
Boiler's Cake-LP Token Betting Farming Pool to Get SAUNA
1）Boiler／BUSD LPLöyly Farming
Stake：Boiler - SAUNA Cake LP Earn：SAUNA Total Reword Token：1100k (SAUNA) Bonus End Time：1460days
2）Boiler／SAUNA LPLöyly Farming
Stake：Boiler - SAUNA Cake LP Earn：SAUNA Total Reword Token：950k (SAUNA) Bonus End Time：365days
