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Blindex is the first multi-currency fractional-algorithmic stablecoin protocol. It is an open-source, permissionless, and entirely on-chain – currently implemented on RSK and potentially on additional chains in the future.
The Blindex protocol is a multi-token system encompassing different currency stablecoins called BD-Stables (BDEU/BDAU/BDUK etc.) and BDX - a governance token. The protocol also has pool contracts that hold BTC & ETH collateral. Pools can be added or removed with governance. You can read more about Blindex on their docs website.
The end goal of the Blindex protocol is to replace all traditional financial systems and therefore it calls for being completely stable, all-inclusive and 100% decentralized. Blindex is derived from Frax's protocol with its new paradigm in stablecoin design.
BD-Stables are cryptocurrency tokens that are pegged to their fiat currency, partially collateralized and algorithmically stabilized. While there are a few solutions for USD pegged stables, Blindex is creating a stable token for other currencies to support a truly decentralized financial system that is not dependent on USD to get in and out of a trade.
Each BD-Stable is named after its fiat's country code (e.g. an Australian Dollar’s stable is BDAU, Chinese Yuan is BDCN, and so on).
You will need to set up a Web3 or Mobile wallet that is compatible with the RSK chain. You can also use Ledger or Trezor hardware wallets.
For Mobile wallets, suggested are D’Cent, Math, rWallet, and Defiant. Just get the chosen one from the store of your smartphone, install it and set it up.. Then you can connect your wallet using WalletConnect, which is an open protocol for connecting Dapps to mobile Wallets using end-to-end encryption by scanning a QR code.
NOTE: Always remember that you should save both your password and the 12 recovery words and never share them with anyone.
In Blindex you will be able to:
- Track the stability of the BDstables tokens
- Swap between tokens
- Earn rewards from providing liquidity and staking activities
Since Blindex is built on the RSK platform, all fees are paid in RBTC, native token of RSK. You will need RBTC for any operation on Blindex. You can read more about how to get RBTC here.