BIP-002 Create bGBP and bXAU (Gold) stables and list them on Blindex

The proposal

• Stables
  • Create bGCP (GBP pegged stable)
  • Create bXAU (Gold pegged stable)
• Liquidity pools
  • Create RBTC<>bGBP and BDX<>bGBP liquidity pools on Blindex
  • Create RBTC<>bXAU and BDX<>bXAU liquidity pools on Blindex
  • For your information: Creating a pool for each new stable with RBTC is mandatory by the protocol, and there is no negotiation about having it or not.
• Staking pools
  • Create RBTC<>bGBP and BDX<>bGBP staking pools with a multiplier of x1
  • Create RBTC<>bXAU and BDX<>bXAU staking pools with a multiplier of x1
  • The staking pools will start accumulating yields after it reaches a $50K worth of liquidity OR if a week has passed since its creation - the earliest of the two.

In any case, the yields won’t start accumulating before 24 hours have passed since the creation of the pools (to provide a fair chance to all timezones to participate in the high yields new pools generate).

Background

On March 27th, the Blindex core contributors conducted a poll (on the community Telegram group) to see which stables the community would like to issue next. Each member could have selected multiple assets to be issued next (out of a closed list provided by the core contributors). Overall 44 people participated in the survey (not including the core contributors).

The results were:

1. Gold (75%)
2. British Pound (40%)
3. Australian Dollar and Chinese Yuan (27%)
4. Swiss Franc (18%)
5. Brazilian Real (15%)
6. Argentinian Peso (13%)

Gold (XAU) and British Pound (GBP) won by far.

Change in the stables’ naming conventions

Adding Gold will bring Blindex to its next stage in the journey to tokenize everything! We’re no longer just tokenizing fiat currencies; commodities are an excellent opportunity for the Blindex community - so we’re all very excited about this proposal!

Until now, the naming convention was “BD + country code”. That is how we got to have BDUS (USD pegged stable) and BDEU (EUR pegged stable). Now that we’re stepping into the new era of tokenizing not just currencies, this standard no longer holds.

We wanted to have a standard that will be familiarized with Blindex and make it easy for everyone to understand the pegged assets behind the stable. Therefore, every stable will have the “b + pegged assets” convention moving forward.

XAU is the ticker for:

The ISO 4217 standard code for one troy ounce of Gold, considered a currency

Some might be worried that people won’t find it on Nomics, Coingecko, or CMC - but fear not! While this is the ticker of the stable, when looking for it in the different search options, it will also look by the token name, which is “Blindex Gold”.

Executing the proposal

If approved, the core contributors will work on adding the new stables, liquidity pools, and staking pools.

Once finished, the team will announce the new pools on all the community’s channels.

The staking pools yield accumulation will start according to the proposed timeline in this proposal.