How will Baldr work?
Baldr is a decentralized reserve currency protocol based on the BALDR token. Each BALDR will be backed by an asset (in first stage, by USDC) stored in a treasury. This will give the token a value that cannot fall below.
Baldr is heavily inspired by the works of OlympusDAO
Initial network state
Through policy and voting, the protocol will be tuned to optimize in function of trends of stable coins over time. The decentralized governance will be key in generating a path where everyone will have a voice and power in decision-making.
The first stage of the network will be composed of the following:
- An initial set of policies: Reward Rate, Bond Control Variable and Vesting Period based on research of the team from another DeFi 2.0 projects.
- The bonding contract: through which reserves of USDC, LP and BALDR tokens will be increased.
- The staking contract: where BALDR rewards will be distributed.
Staking means stake BALDR on the Baldr website to earn rebase rewards. It means to trade your BALDR for sBALDR. The sBALDR balance rebases up automatically at the end of every epoch. sBALDR is transferable and composable with other DeFi protocols. 1 BALDR = 1 sBALDR.
A bond is a like a ticket that you can buy using your BALDR tokens, to claim more BALDR tokens at a discounted price. The process of buying those “tickets” are called Bonding, and the “tickets” are bonds.
You can check out more information with the following video!
We welcome you all to this new journey that is only starting!
Stay tuned! ❤
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