bEarn.fi's own algorithmic stablecoin pegged to the US dollar..
bDollar Protocol is designed by the Bearn.fi team as the first algorithmic stablecoin on Binance Smart Chain. It involves an innovative solution that can adjust the stablecoin's supply deterministically to move the price of the stablecoin in the direction of a target price to bring programmability and interoperability to DeFi.
Inspired by Basis and its predecessors, bDollar is a multi-token protocol that consists of the following tokens: bDollar (BDO), bDollar Shares (sBDO), and bDollar Bonds (bBDO) and multiple Multi-Pegs Tokens.
The price volatility of cryptocurrencies is a major deterrent for mass adoption. Their rapid change in fiat-denominated value causes payment values to vary even during settlement times, being highly inconvenient to merchants that handle them.
Stablecoins are cryptocurrencies with an exchange rate peg with existing fiat currencies (such as the United States dollar) or a fiat-related index, thereby drastically increasing their usefulness as a payment medium.
Although many wide variety of stablecoin mechanisms exist, bDollar Protocol specifically uses an “algorithmic central bank” approach to manage the supply of tokens according to a predetermined logic. The algorithm is in charge of balancing stablecoin supply to a fluctuating demand, ensuring that the token price remains relatively stable. Further details are available on a separate documentation here at docs.bdollar.fi.