💰PUSD (Appreciating Stable Coin)

PUSD

PUSD is an algorithmic token that is 100% backed by BUSD. This means that it is effectively designed to only appreciate in value over time.

You can purchase PUSD by simply sending BNB directly to the contract address, and it will exchange your BNB for PUSD. To sell PUSD, you just have to send PUSD to yourself. There will be a button on the dApp to buy/sell PUSD very simply.

PUSD will be distributed with the X Share revenue pools and will be incorporated with various aspects of the protocol. PUSD has a 2% buy / 2% sale / 2% transfer tax. 100% of the taxes are utilized to burn the token and bolster the algorithmic price appreciation mechanics. PUSD Buy/Sale Example: Buy-example:

There are 1000 PUSD in circulation, resulting in $1000 BUSD in backing so the current price is 1000/1000 = $1

Person A buys PUSD for $1000

There is a buy tax of 2% which goes to the backing of PUSD.

The smart contract mints $1000 * 0.98 = 980 PUSD

Person A receives 980 PUSD, resulting in 1980 PUSD in circulation now with a BUSD backing of $2000

The new price is 2000/1980 = $ 1.0101.

TDLR:

You’re putting BNB in and receiving PUSD (98% of what you’re getting, due to a 2% tax).

Let’s use dollars because BNB is a little confusing:

$1000 goes in, and the contract mints exactly 980 tokens (1000 - 2%), so now the backing has $2000 in it and a total of 1980 tokens in circulation.

Pre Buy:

$1000/1000 PUSD = $1.00

Post-Buy:

$2000/1980 PUSD = $1.0101

Sell-example:

There is 1980 PUSD in circulation with $2000 backing and a price of $1.0101.

There is a sales tax of 2% that goes to the backing of the protocol.

Person B sells 750 PUSD and receives: (750 PUSD * $1.0101 * 0.98) = $742.42

The 750 PUSD is completely burned by the smart contract.

The new supply is 1980 - 750 = 1230 PUSD

The new backing is $2000 - $742.42 = $1257.58

The new price of PUSD is $1257.58 / 1230 = $1.0224

TLDR:

You sell 750 PUSD and receive BNB (750 - 2% tax)

(In BUSD): You receive: (750 * $1.0101 * .98) = $742.42

The contract burns the 750 PUSD sold, reducing the total supply to 1230 1980 - 750)

New price = Backed $ Amount / current supply = $1257.58 / 1230 = $1.0224