Boiler BUSD — Stable Token
SAUNAFINANCE will launch Stable Token, called Boiler.
The Boiler Token is an algorithmic Stable coin issued by SAUNA FINANCE, backed by BUSD: “80%” + SAUNA: “the number of SAUNA bought for 20% at Mint”.
The Boiler is 80% backed by BUSD, which is fully backed by the dollar. The remaining 20% is backed by SAUNA. For example, if you try to get 10.0boiler, the boiler’s Minting engine will ask for 10.0BUSD. From that 10.0BUSD, you keep 8.0BUSD in the Boiler contract, purchase 2.0BUSD worth of SAUNA on Pancakeswap, and keep the purchased SAUNA in the Boiler contract.