BitStable Presents the $BSSB Token Launch On Bounce Launchpad

Bounce Brand
4 min readNov 28, 2023

Bounce Finance is partnering with BitStable, a protocol that enables the generation of DAII stablecoin against the bitcoin ecosystem collateral assets, to launch their native token $BSSB on Bounce Private Launchpad. The $BSSB Token Launch will be conducted in two rounds — 60% of the supply will be available for a Staking Auction round where participants stake $AUCTION tokens to earn proportional $BSSB allocation, and 40% will be available for a Fixed-Price Auction round where the price of each $BSSB token is 0.0000233 ETH. Let’s walk through the logistics of BitStable and the $BSSB Token Launch.

What is BitStable?

The BitStable Protocol is the platform through which anyone from anywhere can generate the DAII stablecoin against bitcoin ecosystem collateral assets.

$BSSB Token Launch Details

Total Supply: 10,500,000 $BSSB

Total Raise: $500,000

Staking Auction Round

Fixed-Price Auction Round

$BSSB Tokenomics

  • Total Supply of $BSSB: 21,000,000
  • Token Launch Supply: 50% of Total Supply on Bounce Finance
  • Total Raise Through Token Launch: 500,000 USDC
  • Team Allocation: 5% (6-month lock and linear vesting for 15 months)
  • Airdrop: 3.5%
  • Staking Rewards: 36.5%
  • LP: 5% (locked indefinitely)
  • Total Supply of DAII: 1,000,000,000
  • FDV=1,000,000 USDC

How does BitStable work?

BSSB Staking Rewards Explained

  • Staking Process: Users stake DAII (a BRC20 token) to earn BSSB rewards.
  • Reward Structure: A fixed daily reward of 0.1% is distributed for 365 days, based on the weight of each stake. Using BSSB can increase the weight of your staked DAII.

Bridging and Token Conversion with MultiBit

  • DAII on Different Blockchains: DAII minted on the Bitcoin blockchain can be converted to an ERC20 token on Ethereum.
  • Token Swapping: DAII can be exchanged at a 1:1 ratio with stablecoins like USDC or USDT on the Ethereum network.
  • Partnership with MultiBit Bridge: This enables cross-chain transfers between Bitcoin, Ethereum Virtual Machine (EVM) compatible networks, and other Layer 1 blockchains.
  • Redemption Process: To retrieve collateral or USDT on Ethereum, users must redeem DAII on the BitStable platform, balancing out the original transaction.

Overcollateralization and Liquidation Mechanics

  • Safe Overcollateralization Rate: The BSSB protocol establishes a high overcollateralization rate to reduce liquidation risks, assuming a 50% ratio. This implies you receive DAII equal to 50% of your collateral’s value.
  • Liquidation Plan: Despite the high overcollateralization rate, a liquidation strategy is in place for safety, with the ‘Health factor’ serving as a reference metric.

Stake and Liquidation Formula Example with ORDI

  • Calculating Overcollateralization for ORDI: With an 80% ratio, the maximum DAII you can receive is 20% of the ‘ORDI’s value.
  • Health Factor Formula: Health factor = [1 — (DAII value built / (ORDI quantity x Price)) + 0.2] x 100.
  • Example Calculations:
  • If 1 ORDI = 100 USDT, staking it gets you 20 DAII. The Health factor is then calculated as 100.
  • For building 10 DAII, the Health factor increases to 110.
  • If the ORDI price drops to 50 USDT, the Health factor decreases to 80.
  • A drop in ORDI price to 20 USDT brings the Health factor down to 20, triggering liquidation.

About BitStable

The BitStable Protocol is the platform through which anyone from anywhere can generate the DAII stablecoin against bitcoin ecosystem collateral assets.

Links👇

Website | Docs | Twitter

About Bounce Finance

Bounce Finance is a decentralized auction protocol that empowers users to create and participate in diverse types of auctions on multiple blockchain networks. With a focus on Auction as a Service, Bounce Finance offers a wide range of products, including Token & NFT Auctions, Real-World Collectible Auctions, Ad Space Auction, and SDKs & Plug-Ins. Bounce Finance also provides Private Launchpad services, an on-chain solution designed to streamline IDOs for new projects. Furthermore, Bounce Finance is introducing Real-World Collectibles service, offering a marketplace for projects to sell their own tangible merchandise and luxury items. Bounce’s service includes an in-house manufacturing production line ensuring top-tier quality and seamless shipments.

Links👇

Website | App | Docs | Telegram Announcement | Telegram Community | X(Former Twitter) | Medium | YouTube | Discord | Zealy | LinkeIn

--

--

Bounce Brand

An experiment. Decentralized Auction. Swap or get bounced.