🐤Pollo Basic Income (PBI) is the primary aspect of a seigniorage-based financial ecosystem on the Binance Smart Chain (BSC) that includes PolloSwap, Pollo Yield Farms, and Pollo Vaults.
Seigniorage refers to the difference between the face value of a currency and the cost to produce (mint or mine) the currency. Pollo believes when people get their money needs met, they will make their communities better.
Inspired by similar projects PBI is a multi-token protocol in which the tokens interact to provide stable income. At the simplest level there are 4 tokens and you stake one to get the other, while a third is used to push the value of the second back up. A fourth provides governance and other utility.
- Pollo Dollar ($PDO) is an algorithmic stablecoin designed to stabilize at $1 BUSD
- PDO Shares ($sPDO) provide income when the system is expanding/inflationary (when PDO TWAP >$1). The protocol will mint and proportionally distribute PDO to those who have staked sPDO (Max. Supply 80,001).
- PDO Bonds ($bPDO) push PDO back to the target of $1 BUSD when the system is contracting/deflationary (when PDO TWAP < $1) by getting sold at a discount and later redeemed 1:1 for PDO.
- Pollo Finance Token ($PoFi) is a general purpose utility token of the protocol used for voting/governance rights, gaining discounts, boosting vault APY, lotteries and more (Max. Supply 500,000).
The system runs on repeating 8 hour epochs (time periods). Some time-locking functions help stabilize the system. Staking / Unstaking sPDO from the Boardroom (the user interface/dashboard) will lock sPDO for 6 epochs and PDO rewards for 3 epochs (if any). A PDO rewards claim will lock staked sPDO for 6 epochs and the next PDO rewards can only be claimed 3 epochs later.
PBI went through an orderly sequence of growth steps to become what you see today. These steps needed or generated articles on Medium which are no longer required reading. You can enjoy the benefits of a basic income by simply getting and staking some sPDO. That’s it! Of course Pollo super-fans might enjoy learning more through these many articles.
Instead of re-inventing the wheel Pollo decided to fork some other successful BSC projects so you might recognize a few things. Like other defi projects Pollo Finance supports equality and transparency at every stage. All our source code is published on GitHub and we began on March 17th with a fair-launch in which buyers were limited to 250 coins per wallet. Eventually we plan to transition to a DAO and step back to let the community run the show. Seeds of this are already visible in the newly formed Discord Server.
In a bold display of transparency Pollo has recently published some core financial data, which we believe empowers our community to make better decisions and guide us as a whole. Of course our marketing department would never let us share all our secrets.
For more information please read our Roadmap / Whitepaper and you will see that no simple yield farm can compete with our comprehensive vision. Pollo is here to change the world.
Official website: https://official.pollo.finance/
Telegram ANN: https://t.me/pollo_ann
🐤Pollo Source Contracts:
# bank reward pool
# share reward pool