Payment mining with bStable is here.

Payment mining, stablecoin swaps, liquidity mining, and more, now live on bStable.finance

A new bStable is here. A new era of payments has arrived. bStable is introducing decentralized, on-chain, stablecoin payment tools with payment mining, liquidity farming and stablecoin swaps. Now you can do more in one decentralized transaction.

Background

In crypto, change is constant. The price volatility of most cryptocurrencies has hindered the development of decentralized finance. Because of this, Stablecoins have become an essential ingredient of the crypto pie and have been one of the main foundations upon which DeFi has been built on so far.

Hundreds of DeFi products across blockchains rely on stablecoins as safe-haven assets and hundreds of thousands of users are already using decentralized protocols to earn a higher interest on their stablecoins than is possible on their fiat. While stablecoins and DeFi have opened the doors to a new world of finance, there are many financial processes which remain undisrupted by stablecoins and cryptocurrency in general.

Cryptocurrency payment solutions, for example, have yet to gather mass adoption. The main reason for this is due to misaligned incentives. If a seller is worried about volatility and wants to receive USD or similar but a buyer only wants to pay in more volatile cryptocurrencies, the seller is less likely to accept the buyer’s crypto as a valid currency for the payment. Flipping the problem around, if a seller wants to receive a specific cryptocurrency as payment, but the buyer does not own it or does not want to spend it (think of Bitcoin payments), then it’s unlikely a payment will be made. In either case, both the sellers and the buyers are concerned with losing value after their payments. The solution is to give the seller the opportunity to select the currency they want to accept while at the same time giving the buyer the freedom to pay in whichever currency they own or choose. That’s exactly what bStable’s payment solution does in a trust-less, and non-custodial manner, and in a single transaction.

bStable also combines these incentive-aligning payment tools with a stablecoin automated market-maker (AMM) mechanism and “savings account” which allows users to earn interest on their stablecoins while providing liquidity to enable stablecoin swaps. These liquidity pools are among those from other decentralized swap platforms that also power the swaps which are integrated into the payment protocol. The stablecoin AMM models the original StableSwap protocol by Michael Egorov and is unique in that it is integrated into the payment solution, therefore unifying payments, savings accounts and swaps under one decentralized product.

So what is bStable?

To keep things simple, bStable is a decentralized payment protocol combined with a stablecoin swap platform and savings account.

In other words, bStable combines the following:

• An automated market maker (AMM) mechanism powered by stablecoin liquidity pools specially designed to enable token swaps between any Binance Smart Chain(BSC)-based stablecoin at low fees and with minimal price slippage.
• Free, decentralized, and trust-less payment tools

What can you do on bStable?

💱 Swap

You can swap stablecoins at great rates and with minimum slippage thanks to the StableSwap mechanism.

🏦 Earn

You can also add liquidity to the protocol to power the swaps and earn interest on your liquidity!

💸 Pay

You can use bStable to pay in your desired currency while the receiver receives the payment in theirs. If the payer wants to pay in a different currency than that which the payee wishes to receive, the payment will include a currency swap. Payments and swaps take place in one single, decentralized transaction.

🔐 ⛏ Stake and Mine

Liquidity providers and payment users can stake their liquidity and payment tokens and mine BST.

Check out our documents to see how to use bStable!

What is BST?

The bStable token (BST) is the token that holders will use to participate in the governance of the bStable DAO. BST is available as a BEP-20 token on Binance Smart Chain. As of launch, the only way to get BST is by earning it through using bStable. Liquidity providers are able to stake their liquidity tokens for BST and payment users can claim BST for every payment they make using bStable.

What can you do with your BST?

As of launch BST can be used in the following cases:

• Payment Mining: ‘Get paid to pay’ and earn BST for every payment
• Liquidity Mining: Earn BST for liquidity provided to the protocol by staking liquidity tokens

Within 2021, BST holders will also be able to use BST for the following:

• Staking: Stake BST to receive a share of bStable’s fee revenue
• Governance voting
• ‘Membership’ Discounts
• Paying for protocol fees in BST

More importantly, how can you get BST?

There are two main ways to get BST on bStable.

1. Whenever you add liquidity to any bStable liquidity pool, you will receive bStable Liquidity Provider tokens (BSLP). BSLP represents your position in the liquidity pool. You can stake your BSLP on bStable to earn BST.
2. Whenever you make an on-chain payment using bStable, you will earn some BST.

What’s next for bStable?

Community governance

bStable’s stablecoin AMM and its ‘savings accounts’ along with its payment protocol are built to be decentralized, community-owned, non-custodial products which can be integrated into other decentralized finance products. As such, the goal of the bStable team is to ultimately hand over governance of the protocols to the community of BST holders, while continuing to update the user interface and develop new products on top of the core swap and payment protocols. While the DAO won’t be live upon launch, it is scheduled to go live within 2021. Once it is live, the bStable DAO will make decisions regarding any potential changes to the protocol, including but not limited to changes to the liquidity pools, fee structures, reserve allocation, and BST rewards distribution.

Payment improvements

Throughout the next year, more liquidity sources will be added to the backend of the payment function, which in turn will increase the number of currencies available for payments on bStable. In addition, bStable’s payment tools will become more advanced and will include a widget for sellers to accept crypto through bStable.

BST availability and utility

Later this year, BST holders will be able to stake BST to earn a share of the revenue generated by the fees on the bStable swap protocol. BST will also become available for swaps on decentralized exchanges within the Binance Smart Chain space and will also be available for farming on other platforms. These will be announced soon.

Multi-chain

bStable is currently available on Binance Smart Chain but it will launch on other blockchains throughout the year. The next blockchain that bStable will launch on will be Celo.

Welcome to the bStable family! Please stay in touch :)

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