BINANCE SMART CHAIN INTEGRATION WITH BIBLEPAY
We are moving forward to create an Ethereum (BEP-20) Binance smart chain presence for BIBLEPAY, so we can provide enhanced features.
This includes:
- BEP-20 BSC token for BIBLEPAY (contract address 0xF103aEEc556412087747f0B3079088aDCB28137c)
- ShibaInu->BBP Exchange (Contract address 0x258Ee000341b5A5D18aE366E04FcE35360B89f69)
NOTE: I will be providing the source code for the two contracts as well. As the dev of the contracts, I specifically designed them so there are no owner functions. I am an equal participant in this ERC-20 space as everyone else is.
(Note on future state: I plan on re-creating PortfolioBuilder on the BEP-20 side to provide staking rewards using the BEP-20 smart contract; the rewards will be in BEP-20 BIBLEPAY. Native L1 chain BBP will be able to be traded on the Unchained bridge to go back and forth from BEP-20 BBP to Native BBP
Why PB BEP-20? So that the smart contract can confirm your BEP-20 holdings along with the native BBP holdings to provide a reward. On the native side, it would be more centralized to prove and emit the reward (I may be involved running a service that is trusting the main kitty emission) but on the BEP-20 side, we can automate this since the PortfolioBuilder contract can act like a bank for us).
Side Note: When you look through the release and test cases below you may wonder why the unchained exchange UI uses its own internal wallet and provides a wallet address. This is because I want to make it easy to log in, use the exchange, log out, and for future use cases, be able to spend from the derived key in the web site (via ERC-20 or native BBP). This means the unchained site will also have a cool feature that lets you log in with metamask (equivalent to 2FA) which will increase security on the web side. But I assure you, the things we are testing below are still 100% decentralized as the site does not store private keys - it only derives them from your signature and when you log off it throws them away. Future state, I believe we can also make a decentralized version of the exchange that spends directly from metamask (no key derivation necessary on the web site). However this is still useful today to fully test the contracts, and add features such as Buying Selling NFTs directly from the ERC-20 wallet on the unchained site.
Explanation of Contract 1, the BIBLEPAY BEP-20 token:
1) There is a 1B coin hard cap. Only 1M coins can be minted per day.
2) Coins can be Minted to You if you send ShibaInu to the contract. Otherwise, coins are NOT minted.
3) Shiba that you send to the contract, can be withdrawn after 4 years.
4) I am providing a convenience function in unchained to allow anyone to mint BIBLEPAY from Shiba to make this an equal and fair emission.
5) I have no private key for any of the BIBLEPAY coins on the BEP-20 network. They get minted directly to your BEP-20 wallet (or to the BEP-20 web wallet, which is still your private derived key that I cannot see since it is derivated from the MetaMask signature).
6) When coins are sent from the BEP-20 contract to the exchange contract, they are locked IN the exchange contract (not on the web site). I cannot withdraw them or recover them. The only way to get them back is to either cancel the trade, Or have the trade fill.
7) The Exchange contract is also Public and I do not have any rights to the coins. Those coins can only be withdrawn via the original user who sent them (via the Cancel mechanism), OR, if they are over 30 days old and Not filled/exchanged, the exchange contract has the right to send them back to the original owner (this is a maintenance function to clean old orders, to keep the contract from growing unbounded with old junk orders) etc.
8 ) If these two contracts are deployed in a way that operates directly from MetaMask (future state) there will be No Need for a web wallet on unchained. I am simply providing the web wallet to get us started and I also may provide free gas on the unchained to jump start adoption.
9) If we continue down this path of decentralization, we can decentralize everything in biblepay including the expenses and revenue records, the prayer room, the voting, permissions, everything.
10) When you place a Trade in the Exchange, an Order is created with a BEP-20 ERC20 Public Key, Timestamp, Quantity and Bid amount. This order is stored in the *Exchange contract* (not on the web site). This is one of the primary novel features of our decentralized exchange. The smart contract will FILL a partial order, or a full matching order when the big is equal to or greater than the ask, even if the quantity is not the full amount. The contract itself sends the tokens for both assets, out from the contract to the receivers.
11) if you want your coins back for an exchange Order, you can highlight the row and click Cancel, and the contract will send your coins back to you as long as you are the owner of the order.
How do I test?
Log in to unchained.biblepay.org.
Navigate to the Finance menu.
Click connect wallet and connect to your metamask instance.
I will post test cases here, one at a time as we get through them.
Test Case 1:
Verify that you can Mint BEP-20 BIBLEPAY in exchange for ShibaInu:
From the finance menu, click Mint Coins.
Verify that you have a little BSC gas in your wallet, and more than 0 Shiba Inu.
Type in an amount (you will receive 1:1 in BEP-20 BIBLEPAY). Click Mint.
Verify that you have lost the Shiba and gained the BBP in your web wallet.
