An algorithmically pegged token at a ratio of 1000:1 with BTCB.
An algorithmically pegged token at a ratio of 1:1 with DOT.
An algorithmically pegged token at a ratio of 1:1 with ADA.
An algorithmically pegged token at a ratio of 1:1 with ATOM.
bitSHARES are one of the ways to measure the value of the bitBOMB protocol and shareholder trust in its ability to consistently maintain its pegs. During epoch expansions the protocol mints BOMB and distributes it proportionally to all bitSHARE holders who have staked their tokens in the Boardroom.
bitSHARE has a maximum total supply of 54,000 over 2 years, distributed as follows:
- Farms Allocation : 43,800 ( 60 per day)
- Treasury Allocation: 5000 vested linearly over 24 months.
- Team Allocation: 4800 vested linearly over 24 months. ( Sent directly to Phub)
- Initial mint: 400 bitSHARES minted upon contract creation for the initial pool.
The main purpose of bitBTCbond is to help incentivize fluctuations in the bitBTC supply during epoch contraction periods. When the TWAP (time-weighted average price) of CZbomb falls below 1:1 BOMB, bonds are issued and can be bought with bitBTC at the current price. Exchanging bitBTC for bitBTCbond burns bitBTC tokens, taking them out of circulation (deflation) and helps to get the price back up to peg. These bitBTCbond can be redeemed for bitBTC 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 bitBTC when it is above peg, helping to push it back toward 1:1 BOMB ratio. The same applies for bitDOTbond, bitADAbond and bitATOMbond below!