#Boiler Coming soon
SAUNA FINANCE STABLE TOKEN
Boiler Token／1boiler = 1USD
The Boiler Token is an algorithmic stable token issued by SAUNA FINANCE backed by BUSD: 80% / SAUNA: 20%.
The Boiler is 80% backed by BUSD, which is fully backed by the US dollar. The remaining 20% of the Boiler is backed by SAUNA.
For example, if you try to get 10boiler, the boiler's Minting engine will ask for 10BUSD.
From that 10BUSD, you keep 8BUSD in the contract and purchase 2BUSD worth of SAUNA with Pancakeswap and keep that SAUNA in the contract.
When you try to redeem Boiler, you will receive 80% in BUSD and 20% in SAUNA stored in the contract. SAUNA you receive depends on % of Boiler you want to redeem. e.g. if total number of Boiler issued is 100boiler and you redeem 10boiler, you will receive 10% of SAUNA in contract.
Pancakeswap will making Boiler-BUSD pair/Boiler-USDT pair/Boiler-USDC pair/ LP and 1:1 price.
The mechanism to maintain this price is assumed to be maintained by an arbitrage mechanism for investors.
