Unravelling the Mystery of BST Token: The Yield of Blobble World
In this article, we will talk through Blobble’s in-game yield token called BST. This article will dive into the mechanics of BST, its relationship with the stablecoin bnUSD, and how it adds value to the Blobble World economy. Let’s begin by understanding the foundation of BST tokens and their connection with bnUSD.
The Foundation of BST
At the core of the BST token lies its backing by the stablecoin bnUSD. To mint new BST tokens, bnUSD is required, creating a strong connection between the two. This relationship is facilitated by the BST minter contract. The backing of BST by bnUSD ensures it is always redeemable for bnUSD
BST Minter Contract
The BST minter contract serves as a central hub that maintains the connection between BST and bnUSD. When BST tokens are minted or burned, bnusd is locked or redeemed via the BST minter contract, adjusting the value of BST accordingly.
Minting and Burning BST
When you mint or burn BST tokens, the price of the token is influenced. A 5% tax is applied during both minting and burning BST tokens. This tax is held in the BST minter contract, which in turn fortifies the bnUSD locked in the BST minter contract.
Price Determination for BST
The price of BST is calculated using a simple formula: divide the total bnUSD locked in the BST minter contract by the total BST supply. This formula is utilized every time BST tokens are minted or burned, ensuring a transparent and fair pricing mechanism.
For instance, if the treasury holds $500 bnUSD and there are 500 BST tokens in circulation, the price of BST would be $1 ($500 ÷ 500). The price adjusts accordingly as more BST tokens are minted or redeemed, benefiting all existing holders.
Too much information? Do not worry. All Blobble introduction learnings will be available in the Blobble University. This university will contain all the interesting information on Blobble game play dynamics, BST token mechanics and frequently asked questions.
Hidden Early Blobble Club
If you know you know! Join the Hidden Early Blobble Club here and become one of the first to mint BST or buy a Blobble. This channel, along with the @blobbleworld Twitter handle, are your main source for Blobble news and updates.
By grasping the mechanics of the BST token, its minting and burning processes, and its relationship with bnUSD, you can better appreciate the dynamic economy within Blobble World. This innovative economic model presents a fun, engaging, and potentially rewarding experience for players. Embark on the adventure today and uncover the captivating world of BST-backed Blobbles!