SafeDollar — The Next Generation Algo Stablecoin on Polygon

3 min readJun 10, 2021

Inspired by and improved from all predecessors, we are pleased to present the next generation algorithmic stablecoin on Polygon. SafeDollar will be the first and only algorithmic stablecoin that combines unique features of seigniorage, deflation protocol and synthetic assets.

Pre-Launch — Airdrop

SafeDollar will airdrop 100,000 SafeDollar (SDO) to 8 communities: Basis Cash, Mithril Cash, PolyDoge, Safemoon, Quickswap, bDollar, Iron.Finance, MidasDollar with a total of 35,984 wallets.

Each wallet can claim 6.889999999999999999 SDO once. The airdrop is organized on a first come — first serve basis, until the whole 100,000 SDO is fully distributed.

After 4 weeks, the remaining unclaimed SDO in the contract will be burned.

Stage 1.1 — Seed Pool

Single Asset pools will be open at Friday 11 June 2021 12:00:00 PM UTC

WMATIC (2% fee): 10x
WETH (2 % fee): 10x
USDT (0% fee): 1x
USDC (0% fee): 1x

Deposit fee is sent to ReserveFund for providing SDO and SDS liquidity later.

Open liquidity pools (SDO/USDC: 20x) on QuickSwap 36 hours after launch.

Stage 1.2 — Airdrop

Airdrop start date: from Saturday 12 June 2021 02:00:00 AM UTC

Stage 2 — Liquidity Mining Pool SDO/USDT to earn SDS

3 tokens algo stable coin with auto deflation for Share

1. SDO (algo stable coin with tax mechanic)

When SDO is over $1, no tax fee

When SDO is under peg (<1$):

Tax = Min[0.1, (1 — price) * 0.2]
0.5% sent to Jackpot fund
0.5% sent to Boardroom

2. SDS (share token)

TX fee = 2% (50% to buyback SDO and burn, 50% to add liquidity)

3. SDB (bond token)

When SDO under peg, convert SDO for SDB to get bonus when price over peg

Use Cases for SDO

1. Trading Safe Assets (Synthetic Assets)

What is Safe Assets: Safe Assets are partial collateral assets, you can mint/redeem native token to safe assets with collateral utilization (max 18%) and trade with SDO.

USDT + SDO (max 18%) → safeUSDT (sUSDT)
WMATIC + SDO (max 18%) → safeMATIC (sMATIC)
and more

These safe tokens can be used for trading and/or lending on other platforms to bring profit back to SDS holders.

2. Relax room

Mega Jackpot (with fund from boardroom)
Decentralize games

Distribution

SDO
Initialize supply: 500K

100k to airdrop for BasicCash, Mithcash, bDollar, Iron.Finance, MidasDollar, Safemoon, Quickswap, PolyDoge top-holders
400k for farming in 10 weeks (90k first week — halving 20% weekly)

20x SDO/USDC (no fee) (open after 36 hours)
10x WMATIC (2% fee)
10x WETH (2 % fee)
1x USDT (no fee)
1x USDC (no fee)

SDS:

SDO/USDC earn SDS
SDS/USDC earn SDS
SDS/USDC earn SDO (from boardroom)

Safe-Assets:

safeUSDC/SDO earn SDS
safeWMATIC/SDO earn SDS
safeWETH/SDO earn SDS
safeWBTC/SDO earn SDS

SDS

Total Supply: 1.000.000

Private sale + IDO: 2.5%
Dev + MKT: 17.5% (vesting in 80w)
DAO: 20% (vesting in 80w)
Farming: 60% (in 80w)

Safe Center

Reward from:

SDO expansion rate
Fee mint/redeem from Synthetic Assets
Trading fee

Reward distribution:

35% for staker in boardroom
15% for SDS LP providers (locked in 80w)
40% for DAO fund
10% to lottery

Rule:

Maximum 1% SDS circulating supply per address.
More details to be posted at the seperate article and documentation page

With its unique tokenomics and combined features, we strongly believe that SafeDollar will redefine the algorithmic stablecoin concept and set a new standard on Polygon landscape.

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Contracts:

SDO: 0x86bc05a6f65efdada08528ec66603aef175d967f
SDS: 0x352db329B707773DD3174859F1047Fb4Fd2030BC
SdoRewardPool: 0x17684f4d5385FAc79e75CeafC93f22D90066eD5C
ShareRewardPool: 0x029D14479B9497B95CeD7DE6DAbb023E31b4a1C3