Community

What is bDAI ?

BTU Protocol | 06.08| 62

What is bDAI ?

We are ecstatic to announce the birth of BTU Incentivized DAI (bDAI), a stable coin that automatically rewards in BTU at each use. bDAI is a token based on DAI, a stable coin that is pegged to USD by MakerDAO.

At BTU Protocol, we have been successfully applying incentives without taking platform commissions to various industries like Hotel bookings (e.g. our Dapp at https://btu-hotel.com with 2M hotels available), Car rentals, Developer recruitment or Online commerce. Our white-paper published in 2018 also included Finance as an industry to be disrupted by crypto. bDAI is our first contribution in this direction.

The bDai Innovation
bDAI is an innovative stable coin that provides incentives for using it.
bDai is stable :
- One can obtain bDAI by swapping 1 DAI for 1 bDAI
- At any time, 1 bDAI is redeemable for 1 DAI whose value is pegged to 1 USD

Bdai is BTU incentivized.
Each time a bDAI is transferred BTU are automatically sent to the sender to thank him for his use of bDAI. This is the magic of programmable money.

e.g.: Alice holds 1000 bDAI during a month, then she sends these 1000 bDAI to Bob. Bob receives the full 1000 bDAI. Alice receives automatically 43 BTU as rewards. Actual figures may vary.

Furthermore, a bDAI holder can claim its BTU incentives at any time.

  • BTU amounts are based on the DAI Saving Rate, 8.75% per year (February 5th data).

What is BTU ?
BTU Protocol helps companies to distribute crypto-incentives. BTU tokens are rewards incentivizing users to adopt new channels and behaviors. Any business can encourage consumers, employees or partners to adopt new habits and disrupt the current business model of established platforms. The BTU incentive has been first implemented in the hotel industry. Customers are rewarded for purchasing their room within 2 million hotels. As a result, users get better purchasing power while hoteliers have the opportunity to increase their margins.
The BTU token is listed on Bittrex Global, VCC Exchange & KyberSwap. Maximum supply is 100M BTU. Price and other metrics can be found on Messari (https://messari.io/asset/btu-protocol)

How does it work?
bDAI is an autonomous smart contract that is making use of features of other smart contracts : DAI, DSR and Uniswap. BTU incentives that are distributed are computed based on holding time between transfers (or claims), DAI Savings Rate and the price of BTU on Uniswap.

Why we built bDAI ?
-
bDAI is a good way to promote stable coin usage in real life
- bDAI is an automated cash back that cost nothing to the merchant
- bDAI is the best way to earn crypto without taking any volatility risk
- bDAI is a fun game to earn more from your idle USD if you claim at the right time (no-loss trading)

The bDAI smart contract
bDAI is an ERC-20 compliant smart contract.
- Address : 0x6a4ffaafa8dd400676df8076ad6c724867b0e2e8
- Name : BTU Incentivized DAI
- Decimals : 18

How to get your first bDAI ?
-
The simplest option is to send ETH to our swapper smart contract : 0xDE4EaF49d03abd3B747414e0A56987BEDE4576DE.

QR Code of bDai Swapper for swapping ETH to bDAI

What are the risks?
Like all crypto projects, there are risks to consider. The most important one being that bDAI is built with blockchain smart contracts. The blockchain itself (Ethereum) or any of the smart contracts (including DAI, DSR, bDAI, BTU and Uniswap) can stop functioning as intended or can be hacked. Please check our disclaimer. https://btu-protocol.com/bdai/terms


What is bDAI ? was originally published in btuprotocolteam on Medium, where people are continuing the conversation by highlighting and responding to this story.

Comment 0

delete

Are you sure you want to delete this post?