Bolt Dollar Gitbook
  • IMPORTANT UPDATE
  • Other languages
  • Bolt Dollar - General
    • Introduction
    • Tokens & Protocol
      • Token types
      • Shares
      • Boardroom
      • Bond system
      • Token Contracts
        • BTD token contracts
    • Security
      • Security measures
      • Audit
    • Investor strategies
    • Vaults & Pools
    • Liquidity and LP tokens
      • Creating an LP token
      • Removing an LP token
    • Fantom Opera
      • Add FTM to MetaMask
      • Add FTM using ChainList
      • FTM faucets
      • BSC to FTM Bridge
      • SpookySwap Bridge
    • BSC:FTM:ETH:Polygon
  • Bolt Dollar - Resources
    • Information
      • Bolt Dollar 'dictionary'
      • Social channels
      • Website links and mirrors
      • vfat tools
      • FAQ
    • External tools & Info
      • General Knowledge
      • External tools
    • Roadmap
  • DISCLAIMERS
    • Financial
    • Content
Powered by GitBook
On this page

Was this helpful?

  1. Bolt Dollar - General
  2. Tokens & Protocol

Boardroom

PreviousSharesNextBond system

Last updated 4 years ago

Was this helpful?

Epoch duration is 8 hours. Every interaction within the boardroom will lock BTS shares for 6 epochs (48 hours) and BTD claims for 3 epochs (24 hours).

  • If you change your BTS stake you will not be able to claim BTS for 6 epochs and BTD for 3.

  • If you claim your BTD from the boardroom you will not be able to claim BTS for 6 epochs and BTD for 3.

Seigniorage

After each epoch (8 hours) the protocol mints BTD and distributes it proportionally to all BTS holders who have staked their BTS in the Boardroom. But it only does so when the TWAP (time-weighted average price) of BTD is at $1.01 or higher. The newly minted BTD is then sent to the Treasury (if it is not full) and shared with BTS stakers in the boardroom.

How to earn Seigniorage rewards

You need to stake your Bolt Share (BTS) in the Boardroom at . Every stake made during an epoch will entitle you to the rewards gained during that epoch. But only when the TWAP of BTD is above $1.01.

Bolt Dollar has a dynamic expansion rate and shareholders who have staked BTS in the boardroom will receive part of that expansion. Because the height of the rewards scales with the expansion rate the total amount of BTD you receive per BTS per expansion will scale up with 1-3% as well.

Dynamic expansion

By default, Bolt Dollar has an expansion rate of 3% but the expansion is variable between 1-3% ($1.01 - $1.03 BTD TWAP). So when the TWAP is at $1.03 or lower, the expansion rate will change from 3% to 1% the closer it gets to $1.01. If the TWAP goes below $1.01 the expansion will halt.

if BTD TWAP > $1.01 {Bolt Seigniorage expands min(3, (BTD_price-1.00)*100)}

Example:

  • During epoch 25 you receive 1.00 BTD per BTS

  • Bolt Dollar is at $1.05 and expands with 3%

  • During epoch 26 you receive 1.03 BTD per BTS

Contraction

When Bolt Dollar goes below $1.00 it goes into a contraction phase. Bonds are minted that can be bought with BTD, burning that BTD in the process. More about this is explained in the Contraction phases are normal in the cycle of an algorithmic stablecoin.

Note: Minting transactions sometimes take a few minutes to execute. Please confirm that your BTD rewards are shown in the Boardroom before you unstake, or you could forfeit your rewards.

https://boltdollar.finance/
bond system.