bnUSD: a stablecoin backed by crypto
Use crypto as collateral to mint Balanced Dollars, and trade it to keep the price around 1 USD.
Borrow Balanced Dollars
Deposit cryptocurrency as collateral to mint bnUSD, and earn BALN while you hold debt.
Stabilise the price
Use the Stability Fund to trade bnUSD 1:1 with other stablecoins whenever the price fluctuates.
Transact with confidence
Make bnUSD your main currency for payments and trades, or use it to increase your passive income.
What is the
Balanced Dollar?
The Balanced Dollar (bnUSD) is a decentralised stablecoin that tracks the price of 1 US Dollar. It uses crypto as collateral to guarantee its value, with support for a growing range of cross-chain assets.
bnUSD is over-collateralised, so the total supply cannot exceed the value that backs it.
Total supply
...
...
Total backing
...
Collateral
...
Stability Fund
...
Supported collateral types
ICX
BTCB
ETH
Available on
ICON
BNB Chain
Archway
How bnUSD
maintains its value.
The Balanced Dollar is backed by volatile cryptoassets, so how does Balanced guarantee its value?
Loans are liquidated when bnUSD is worth more than ... of the collateral that backs it. Traders can use the Stability Fund and Redemption method to reverse short-term price fluctuations. And the Savings Rate increases demand for bnUSD to attract more liquidity for the Stability Fund.
Stability Fund
The Stability Fund is the primary stability method for bnUSD. Use it to swap approved stablecoins 1:1 for bnUSD, or trade the inverse for a ... fee. You’ll get the option to use the Stability Fund for supported swaps on the Trade page.
When the Stability Fund receives stablecoins, it holds them as collateral and mints bnUSD. When the bnUSD is returned, it gets burned. There’s a maximum limit for each stablecoin, which can be changed via governance at any time.
If bnUSD is above $1
Send approved stablecoins to the Stability Fund to mint bnUSD. Sell the bnUSD at a premium for more stablecoins, and repeat until it’s no longer profitable.
If bnUSD is below $1
Send bnUSD to the Stability Fund to burn in exchange for another stablecoin. Use the stablecoin to buy cheap bnUSD, and repeat until it’s no longer profitable.
Savings Rate
The Balanced Savings Rate exists to increase bnUSD demand and attract more stablecoin liquidity for the Stability Fund. Deposit bnUSD into the Savings Rate to earn rewards from loan interest, DAO revenue, and ICON blockchain emissions.
Learn more about the Balanced Savings Rate.Total deposited
...
Reward rate
...
Rewards distributed
...
Redemption method
The Redemption method allows traders to redeem (burn) bnUSD for borrower collateral, minus a ... fee. It’s only beneficial to redeem bnUSD if the price falls below ..., so it’s used as a last resort if the Stability Fund is empty.
Redemptions are spread across a group of borrowers to limit the impact, and are only available via smart contract.
If bnUSD is below ...
Send bnUSD to the Balanced Loans contract in exchange for ... of the value in a specific collateral type. ... of the bnUSD will be burned to repay borrowers’ debt, and ... will be sent to the DAO Fund.
What can you do with bnUSD?
Open a stablecoin loan
within 30 seconds.
With a few clicks, you can deposit collateral and borrow up to ... of the value in bnUSD. There’s ... interest, and you’ll earn Balance Tokens (BALN) until you repay your loan.
Earn a return from the
Balanced Savings Rate.
If you have bnUSD sitting idle in your wallet, deposit it into the Balanced Savings Rate. You’ll earn rewards from loan interest, Balanced revenue, and the ICON Network, and you can withdraw your bnUSD at any time.
Take advantage of
arbitrage opportunities.
You can always borrow bnUSD for $1, which makes it easy to use price fluctuations to your advantage. If bnUSD trades above $1, swap it through the Stability Fund or use it to buy other assets at a discount.
Get paid to supply liquidity.
Balanced incentivises users to supply liquidity for its assets. If you supply bnUSD to an incentivised pool, you’ll earn BALN and a share of the trading fees.
Mint a crypto-backed stablecoin.
Borrow Balanced Dollars
Deposit collateral on the Home page, then take out a loan to mint bnUSD and earn BALN for your debt.
Use the Stability Fund
Swap stablecoins for bnUSD on the Trade page, and choose to use the Stability Fund when offered.