bStable liquidity pools are now live!
DeFi stablecoin swaps and multi-stablecoin liquidity pools on Binance Smart Chain
bStable, the Binance Smart Chain (BSC) automated market maker (AMM) for stablecoins, has launched two liquidity pools.
This means you are now able to swap your BSC-based stablecoins with minimum price slippage and also become a liquidity provider and start earning interest on your stablecoins.
bStable was also featured on the Binance Smart Chain DeFi Landscape list tweeted by Binance’s Changpeng Zhao last week.
It is great to be a part of such a fast-growing blockchain environment and we can’t wait to continue to grow along with Binance Smart Chain!
The first two bStable liquidity pools are now live.
The first pool is a tripool containing BUSD, USDT, and DAI (all pegged onto Binance Smart Chain). The second pool is another tripool composed of QUSD, USDT, and BUSD. You are now able to add liquidity to either pool in any of those currencies and start earning interest in BSLP (bStable liquidity pool tokens).
When you add liquidity, your funds are sent to the pool’s smart contract address and they remain locked until you choose to withdraw. In return, you’ll receive BSLP tokens that represent your position in the liquidity pool. If you are adding liquidity for pool 1, you will receive BSLP-01, while if you’re adding liquidity for pool 2 you will receive BSLP-02.
When you want to withdraw your funds from the liquidity pool, visit the ‘Manage Liquidity’ tab in your desired pool, select the percentage of BSLP you’d like to withdraw, and select which stablecoin you’d like to withdraw it in.
Swap fees
bStable currently charges a 0.3% fee per swap made using the bStable pools. As of right now, liquidity providers earn 0.1% of every swap made on the pool (a third of the fee) which is then split among LP’s correspondingly according to their share of the pool. For example, if you own 100% of the liquidity pool, you will get 100% of 0.1% from each swap. If you own 10% of the liquidity pool, you will get 10% of the 0.1% from each swap.
If liquidity providers have been earning 0.1%, what about the other 0.2%? As of right now, the 0.2% remaining in swap fees earned is sitting in the smart contracts’ reserves. The plan is to incorporate this amount into the bStable token release in 2021.
Once the bStable token is released, LPs will earn 0.2% of the fees, while the remaining 0.1% will go towards the bStable token.
After the launch of the bStable token, holders will participate in a DAO and will be able to make proposals and vote on the swap fee amount and how they prefer for it to be allocated.
Pools
bStable token holders will also be able to propose and vote on the creation of additional multi-stablecoin pools.
In terms of pools, a third tripool featuring VAI, the first BSC-native stablecoin, DAI, and BUSD will be launched soon.
Also coming soon
bStable will soon display estimated APY (annual percentage yield) calculations for each different pool to give liquidity providers an idea of how much their liquidity funds will grow yearly.
For the swappers out there, it will also soon be possible to swap between different currencies, no matter what pool they are on.
A lot of this is only possible with your help
As bStbale make strides towards growing and establishing community governance, we are looking for community ambassadors to help contribute to the growth. If this sounds interesting, we’d love to hear from you.
Join us
If you want to stay up to date with everything happening at bStable, or if you have any feedback or any ideas about the product, please join the bStable Telegram and Discord communities. Also, please give bStable a follow on Twitter if you haven’t already!
