BSCDaily.com hosts BigBang.Cash: the Algorithmic Stablecoin Metaverse on Binance Smart Chain, integrated with crosschain assets transform, long tail asset lending and NFT-GameFi applications.
BSCdaily – Admin: Hello and welcome to BSC Daily, @Kelvinorin! How was your day?
Korn W: Hello. Very fine！
BSCdaily – Admin: Happy to hear! Ready to start our AMA?
Korn W: Yes, I am ready now.
BSCdaily – Admin: Perfect, let’s rock the stage
Q1: Can you please introduce yourself and BigBang’s overall framework?
Korn W: I am Korn W. and I’m core member of BigBang Cash Project.
Bigbang Universe(Bigbang.cash) is an essential part of the experimental algorithmic stablecoin Metaverse built by Universe Protocol. Multiverse rely on the market, executed by algorithm on smart contracts in open and transparent way.
In the Bigbang Universe, all participants will experience the origin, expansion and stability of the universe, as well as the birth and evolution of many algorithmic stablecoin planets.
In the past stablecoin protocols often exclusively used either a pure collateral model or a completely unsecured model (algorithmic stability). Pure collateral stablecoins either need to over-collateralize assets on the chain, or have custody risks, and the scale is limited by the amount of collateralized assets; but these designs can provide a fairly stable fixed exchange rate and have a certain degree of credibility. The Bigbang Universe will simultaneously use the two stablecoin design models and will be launched in several steps.
BSCdaily – Admin: An algorithmic stablecoin Metaverse, interesting!
And you said that the Bigbang Universe use the two stablecoin design models
Q2: Can you introduce us BigBang’s dual-token model?
Korn W: BIGBANG.CASH employs bCASH/SHARE dual token model with the addition of price stabilization fund (bPCV).
bCASH: an algorithmic stablecoin that is pegged to BUSD (in the BSC ecosystem)
SHARE: a universal SHARE of the algorithmic stablecoin Metaverse. SHARE receives revenues from different algorithmic stablecoin planets. For example, SHARE/bCASH LP token holders can get bCASH dividends when bCASH goes through an expansion. And SHARE/bETH LP token holders can get bETH dividends when bETH goes through an expansion.
So keep the SHARE is a good way to share the growth of BigBang Universe.
The basic use of bCASH is to mine SHARE with LPs. However, crosschain assets transform, long tail asset lending and NFT-GameFi applications are suit for bCASH.
Q3: What is the difference between Bigbang.cash with Ampleforth (AMPL), empty set dollar (ESD), basis.cash (BAC) and other algorithmic stable coins?
Korn W: We usually call AMPL, ESD, BAC as 1st to 3rd generation algorithmic stable coins. Their mechanism is evolving very rapidly. There are many differences between Bigbang with them.
A. Due to the performance of Basic.Cash, we found that SHARE was necessary for the algorithmic stable system, but not the bond. Bonds increase the number of potential additional issuances, which does not effectively help the price return from below than 1 to 1. So Bigbang.cash use PCV and Share-Repurchase to accelerate the progress of price return.
B. Bigbang is not only one algorithmic stable coin but a metaverse of algorithmic stable coins. There are many algorithmic stablecoin planets in one universe, they are effectively linked together and continue to expand. For example, in Bigbang Universe bCASH anchors the value of BUSD, bBNB anchors the value of BNB, bNEO anchors the value of NEO, bETH anchors the value of ETH and bBTC anchors the value of BTC.
C. Bigbang contains the algorithmic stablecoin lending platform to empower these planets. It will become the most important application scenario for algorithmic stablecoins.
BSCdaily – Admin: Nice, seems like Bigbang.cash is having many competitive advantages compared to its competitors
Q4: How does Algorithmic Stablecoin Metaverse run?
Korn W: Well, I’ve always found the most innovative and fascinating aspect of Bigbang projects is the metaverse. First of all, the metaverse will spread across multiple public chains, such as Bigbang Universe on BSC, SuperNova Universe on BSC, Pulsar Universe on Okexchain, E-named Universe on Ethereum, and N-named Universe on Neo3. These algorithmic stablecoin assets will be unified by Wormhole.
In a single universe, each algorithmic stablecoin is a planet, and the number of planets is determined by Universe Congress, so more assets will be brought into this multiverse.
For example, In BigBang Universe bBNB anchors to the value of BNB.In Supernova Universe sHT anchors the value of HT; In Pulsar Universe pOKB anchors to the value of OKB, those assets will be used in all universes in the future.
Furthermore, sNEO/bNEO/oNEO, an algorithmic stablecoin that anchors to the value of NEO will also exist in all universes mentioned above and can be transferred cross-chain.
During the cross-chain, 0.01SHARE, except for the gas fee needed to pay, a cosmic tax based on the actual fluidity difference in the universe needed to be paid. The part of the tax will be donated to public chain developers, the rest will be used for Universe Congress governance rewards.
Q5: Now we have a better understanding of algorithmic stablecoin. But why we need algorithmic stablecoin?
Korn W: The number of assets on the chain is growing recently, and the institutions issuing stablecoin are more and more likely to incur regulatory troubles. Assets can be the medium of value storage and transfer. Using algorithms to stabilize the price of these assets can also realize value storage and transfer.
First, we will build a set of lending networks within the algorithmic stablecoin. That’s whitehole part of BigBang Universe.
The overall risk of this network is adjusted by the mechanism of the algorithm stablecoin itself. When assets flood in, the algorithm stablecoin is issued and enters the credit expansion cycle. When assets withdraw, the algorithm stabilizes currency deflation and enters the credit reduction cycle. Although the algorithmic stablecoin itself has the risk of large fluctuations, the algorithmic adjustment mechanism will bring more beneficial changes, allowing more assets to enjoy the DEFI dividend rather than being a spectator.
Second, it’s about the last piece of the puzzle in the DeFi world — unsecured lending, which fits better with algorithmic stablecoins. Bigbang.cash has done a lot of brainstorm and design in this area.
Q6: I see that you already launched Supernova framework approximately 2 months ago. Can you describe basic differences between Supernova and BigBang?
Korn W: Supernova is a non-custodial algorithm stable coin powered by Huobi Eco Chain (HECO), while BigBang is also custodial algorithm stable coin powered by Binance Smart Chain (BSC).
Q7: Will Supernova and Bigbang offer crosschain solution?
Korn W: Yes, Bigbang Universe is connected with Supernova Universe (Hecochain) by Wormhole. Algorithmic Stablecoin Assets can be transformed from Supernova Universe (sCASH/SHARE) to Bigbang Universe (bCASH/SHARE) under Universe Tax.
Base on the wormhole crosschain solution, our whitehole even offer crosschain lending&loan service.
Q8: Is Bigbang project safe and friendly to investors?
Korn W: Yes. Bigbang project is really safe. All Smart Contracts has been audited by Beijing Lian’an and Fairyproof. And, Audit Report by Certik will release soon.
BSCdaily – Admin: Nice, Certik is a big beast among auditing firms
Q9: Where can we find out more about BigBang.Cash?
BSCdaily – Admin: OK.
Medium Link: https://medium.com/bigbang-cash
Twitter Link: https://twitter.com/BigbangCash
Telegram Link: https://t.me/BigBang_Cash_EN
You can follow and find all latest news.
BSCdaily – Admin: Time for wrapping up, any last words you would like to say to our community? @Kelvinorin @Nenchy
Nenchy: There are excelent question overall. As we can’t answer all inhere, we invite to join us in bigbang TG https://t.me/BigBang_Cash_EN and we will do best to answer as much as possible.
Thank you BSC daily community for devoting your time 🪐 You are great!
BSCdaily – Admin: It was a pleasure having you @Kelvinorin and @Nenchy 😀
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for Bigbang.cash
Nenchy: Thank you