Balanced Dollars Logo

Balanced Dollars BNUSD

Balanced Dollars header image

1. Summary

Ranks

Liquidity
84
Developer
-
Social
61
Momentum (beta)
76
Stack Rankā„¢
-
Price
$1.01 +0.5%
Market Cap
$5.74M (#2138)
Supply
4.21M / 4.21M
Price
52W High price $1.01
52W High date 13th Aug 2024 (4 months ago)
All Time High (ATH) Date 21st Jan 2023 (1 year ago)
ATH Price $1.85
% From ATH -46.1%
All Time Low (ATL) Date 17th Aug 2023 (1 year ago)
ATL Price $0.71
% From ATL 40.92%
Supply & Trading Volume
Trading Volume (24h) $221,254.00
Total Supply 4.21M
Circulating Supply 4.21M
Description

Balanced Dollars (BNUSD) is an algorithmic stablecoin backed by ICON (ICX). It is designed to mitigate market volatility and maintain a stable value equivalent to one US dollar. The CPS (Contribution Proposal System) assigns funding to applications in BNUSD, ensuring that funding stays predictable and retains its value during market downturns. This...

Balanced Dollars (BNUSD) is an algorithmic stablecoin backed by ICON (ICX). It is designed to mitigate market volatility and maintain a stable value equivalent to one US dollar. The CPS (Contribution Proposal System) assigns funding to applications in BNUSD, ensuring that funding stays predictable and retains its value during market downturns. This setup provides a competitive advantage for projects receiving grants compared to those receiving funding in volatile assets.

The CPS operates under a decentralized manner, utilizing validators on the ICON network to rotate between application periods and voting periods. Validators can influence the growth of the ecosystem by participating in the CPS. By providing a bond for CPS proposals, validators can earn a 20% ROI upon the successful completion of projects. Applicants can submit proposals during an application period, and validators approve or reject them in the voting period. If approved, the funds are distributed in BNUSD rather than volatile assets.

The Balanced Dollars stablecoin is decentralized and backed by cryptocurrency as collateral. This over-collateralized strategy ensures that the supply of BNUSD does not exceed its guaranteed value. Users can borrow Balanced Dollars for interest, trade them on the exchange, or use them to supply liquidity and earn rewards. The Balanced Dollar has been designed for simplicity and is part of the Balanced DeFi protocol, which supports various blockchain assets and aims to simplify the use of decentralized finance.

2. Price

BNUSD

2.1. Market Performance

How does Balanced Dollars's (BNUSD) performance compare to the median performance for assets of a similar market capitalization?

30 Day Return

0.3%

BNUSD

5.7%

Similar Market Cap

60 Day Return

25.5%

BNUSD

-1.3%

Similar Market Cap

1 Year Return

25.4%

BNUSD

-5.5%

Similar Market Cap

3. Developer Activity

No GitHub repos found. Either the project is not open source or we don't have data yet.

4. Social Activity

Tip: Toggle each network by clicking the name above

Historic data is only available from 22nd April 2022

Total Followers

Reddit Subscribers 700
Active Reddit Users (past 24h) 0
Discord users 1,495
Active Discord Users 101
Telegram Users 1,992
Twitter followers 9,086
5. News

No recent news found.

7. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://balanced.network
Explorer https://tracker.icon.foundation/token/cx88fd7df7dd...
Twitter @BalancedDao
reddit /r/BalancedNetwork
Forum https://gov.balanced.network/

What is the correct contract address for Balanced Dollars?

Icon cx88fd7df7ddff82f7cc735c871dc519838cb235bb
Archway ARCHWAY1L3M84NF7XAGKDRCCED2Y0G367XPHNEA5UQC3MWW3F83EH6H38NQQXNSXZ7

Has Balanced Dollars been audited for security?

No security audits found for this project.

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