How to help BIM peg
Last updated
Last updated
This is key whilst BIM has lower liquidity, everyone can benefit personally whilst also helping to stabilize the BIM peg.
The most healthy option for BIM peg is to use xBOMB as collateral and then borrow BIM. Guides for which can be found here.
When BIM is below peg users should;
Buy BIM off the open market for a discount on Pancakeswap use the following token address: 0xA677a11A6d3abb32F1E195db5650b147577194c6
Can also repay pre-existing debt cheaper.
The easiest way to think of this is, if you can purchase a stablecoin for less than $1, do so! As BIM liquidity increases, these arbitrage opportunities will become more uncommon and less profitable, make the most of it while you still can!
When BIM is above peg users should;
Then sell BIM on the open market.
Doing this, a user will be able to borrow BIM at a 1:1 ratio with USD (as 1 BIM is always equal to 1 USD on our borrowing page) which they can then sell on the open market for a profit.
