Proposal Draft - Add BDUS to XUSD contract



Blindex is building the first-of-its-kind multicurrency fractional-algorithmic stablecoin platform. Inspired by the cutting-edge work done by Frax, Blindex stablecoins are partially backed by a combination of crypto-collateral and an algorithmic stabilization mechanism.

Adding BDUS to XUSD contract will help diversify BabelFish’s basket collateral on RSK, and add more flexibility on the RSK ecosystem by providing the ability to move between different currency pegs globally.

Interoperability between the stablecoins in the ecosystem is necessary for its development, and more stablecoin pegs are expected to be added to the ecosystem with Blindex’s multi-currency mechanism. This will increase the universe of possibilities for trading, staking, and investing with and between XUSD and other stablecoins.

Blindex recently opened a new BDUS-XUSD pool which incentivizes its stakers with BDX (the native token of the Blindex platform), and allows Swaps between XUSD and the other Blindex tokens, thereby adding more venues for XUSD to be traded at.

In the near future, we also expect to enhance our collaboration with BabelFish to offer FISH rewards to XUSD LPs, either directly through our UI or via BabelFish’s.


The Blindex project is focused on building a decentralized protocol from the start, even its cloud provider, StackOS, is a decentralized cloud provider. Decentralization is a big part of the reasoning behind launching first on RSK and using RBTC & ETHs as collateral. In addition to the focus on decentralization, the other priorities are creating a scalable multicurrency system and high capital efficiency.

Choosing BabelFish as its first partnership on RSK emphasizes the importance of XUSD in the ecosystem.

Detailed info:

This BIP is an official request to add BDUS into XUSD’s accepted collateral on RSK. Currently, the accepted collateral on RSK consists of rUSDT, rUSDC, rDAI, rDOC, and DOC. It would benefit BabelFish to further diversify away from its reliance on centralized stablecoins.

Blindex soft-launched the product this past February and, even though we are still in beta, the protocol already has a TVL of $2mn - of which, BDUS/XUSD makes up ~10%. By accepting XUSD as collateral, we expect the BabelFish and RSK communities to become more familiar with our offering and increase BabelFish’s percentage of the TVL in Blindex.

Despite Blindex’s relatively short history, the distributed team is moving at lightning speed to prove its use case and all the metrics tracking BDUS’s stability are publicly visible in the website. Additionally, the protocol has successfully been audited, and you can find a detailed description of the Blindex protocol in the gitbook.

The Blindex team is looking forward to hearing your questions and feedback on this draft proposal before submitting it as a final proposal to be voted on.

We have big plans for making the crypto world more stable, but we’re doing it one block at a time,
join us!


I’ve used and done some cursory research on the protocol. Not quite a full due diligence, but enough to gain my confidence.

I suggest all stakeholders listen to this conversation between Andrey Shirben (Blindex) & Vishnu Korde (StackOS). Very good info here.

Blindex has no VC entanglements, BDX has been a fair launch (no presales), and Andrey seems to be running the whole thing with a very philanthropic mindset.

I would likely vote in favor of a proposal to include BDUS in the XUSD basket. I think Blindex is about ready to gain some serious volume. Aside from Sovryn, DEX options on RSK are pretty limited at the moment. Good opportunity here imho.


This looks like a very interesting proposal.
I particularly like the inclusion of another true decentralised stablecoin as partner.
I will look further into how BDUS works, but at first sight, I will probably be in favour


I like the proposal.

One question - do You consider some BDX airdrop for FISH stakers? That could helpe to bind the communities together.

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Hi Hyde,
The first move we did in order to align our communities was to open a BDUS-XUSD pool where you can Stake stables and be rewarded.

This is one of the first use cases on RSK where you can provide liquidity and stake LP tokens in a Stable-Stable pool, meaning - a low-risk investment baring interest (at the moment you can get up to 1,000% APR while staking in this pool).

We are looking into other mechanisms to create more incentives between the communities. Like Airdrop, and also other mechanisms like Fish rewards for stakers in the BDUS-XUSD pool. But we don’t have a concrete plan at the moment for an airdrop…

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There appears to be tacit approval on this proposal given the feedback received.
If there are no additional comments, we can move ahead and submit this as BIP-0002 for a vote this week. Thoughts?


Sounds good! :ok_hand:
Let us vote and get BDUS to XUSD. That will bring tons of benefits to the community :star_struck: