BUSDT a Stablecoin for the Callisto Network Ecosystem
Bulls Investing Club and Callisto Network have reached an agreement to deploy a stablecoin on the Callisto Network blockchain.
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Bulls Investing Club and Callisto Network have reached an agreement to deploy a stablecoin on the Callisto Network blockchain.
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Article published on medium on 25th March 2021.
Bulls Investing Club and Callisto Network have reached an agreement for leveraging Bull Investing Club’s technology to deploy a stablecoin on the Callisto Network blockchain.
This is a new step forward for the project, always guided by the same guideline: TRUST.
Before going further with the presentation of the Bulls USD ($BUSDT) stablecoin, it is essential to briefly review the $BIC token presented in our previous article.
As a result of our agreement with Callisto’s founders, we have substituted the $BIC token with the $BUSDT token. Therefore, we have revised the $BIC token’s smart contract to comply with this new use case.
As for the use case involving the $BIC token, the mechanism described in our previous article remains unchanged, i.e., the investors will be allowed to lock their $BUSDT token into the Bulls Investing Club’s smart contract to receive a share of the fund’s profits.
For more information, please refer to our previous article, “ Saddling The Bull“.
By enabling investors to hedge against the markets’ fluctuations, stablecoins have become an essential component of the cryptocurrency ecosystem. Therefore, it is not surprising that the total stablecoin capitalization has increased by a factor of 2 since the beginning of the year.
Assuming that a stablecoin will benefit both Callisto Network and Bulls Investing Club, we have committed to developing the Bulls USD token as the stablecoin of the Callisto Network ecosystem.
The Bulls USD ($BUSDT) token is backed by a 1:1 ratio with the USD. The peg is maintained through a smart contract. Therefore 1 Bull USDT is always 1 USD, regardless of the cryptocurrency market’s volatility.
The Bulls USD ($BUSDT) is a BEP-20 token deployed on the Callisto Network blockchain under the contract: 0xbf6c50889d3a620eb42C0F188b65aDe90De958c4.
Bulls USD token specificities:
Name: Bulls USD token. Ticket: BUSDT. Standard: BEP-20. Blockchain: Callisto Network.
It is common to refer to blockchain as the trust revolution, but trust also comes with responsibility, and that’s why at Bulls Investing Club, we aim for the highest standards for our investors.
Smart Contract Audit (completed): To provide the highest level of security to our investors' funds, we requested Callisto Network’s security department to perform an audit of our smart contract. Thus, we are pleased to announce that the smart contract is safe and that no errors were found during the audit.
MultiSig Smart Contract (Q3 2021): During the third quarter of this year, we will upgrade the smart contract to MultiSig so that any operation to be performed will require approval from the whole team.
Independent Financial Audit (Q4 2021): We plan to initiate a financial audit by a qualified auditor effective in the fourth quarter of 2021. This audit will consist of comparing the funds held in our bank accounts with the amount of $BUSDT tokens in circulation.
