The Bread Protocol creates 100% asset-backed, non-controversial stablecoins for use in leisure and commerce in everyone’s daily life, with a DeFi core engine at its heart. It runs on its native token $ROTI and uses USDC to mint stablecoins.
$[FIAT]B
Non-USD Stablecoins
- Major fiat currencies in Southeast Asia like Malaysian Ringgit, Philippines Peso and Indonesian Rupiah
- 100% backed by mainstream cash-equivalent assets (USDC)
$ROTI
Native Protocol Token
- Governance in the BreadDAO to vote on protocol matters
- Staking to earn yield
- Convert (de-mint) $[FIAT]B back into USDC
The Bread protocol produces the ROTI tokens and stablecoin on the Binance Smart Chain. It will begin minting its first stablecoin $MYRB, based off the Malaysian Ringgit (MYR) that will always carry a 1:1 value. $ROTI tokens are used for governance in the BreadDAO (Bread Decentralised Autonomous Organisation) to vote on protocol matters, staking in the protocol, and as fees to convert (de-mint) $MYRB back into USDC. The core features are:
Lowest, Most Stable FX Rates
The protocol fetches foreign currency exchange rates through secure and verified price oracles.
Forget about high Forex conversion rates. The Bread Protocol is designed to mint stablecoins at rates similar to Google’s exchange rates, effectively giving you the full value of the conversion from USDC to other SEA stablecoins.
Real-World Use Cases
Empowering stablecoins to be used in the real world.
From remittance companies to money changers and physical retailers, the Bread Protocol’s fully-trusted stablecoins can be accepted at anywhere in the world that recognizes it, providing frictionless transactions to individuals and businesses.
The Bread protocol operates out in the open, with robust documentation, SDKs, and open-source code. Every component of the algorithm will be fully available & explainable for the community, as will every asset in the reserve.
Launch Bread Protocol App now! For more information, please read the FAQ
FAQ
Q: What is the Bread Protocol?
The Bread Protocol (or affectionately known as Roti Protocol by our community) focuses on creating non-controversial stablecoins for use in leisure and commerce in everyone’s daily life, with a DeFi core engine at its heart. The Bread Protocol uses mainstream stablecoins (USDC, USDT and BUSD) to mint its stablecoins. It will begin minting its first stablecoin MYB, based on the Malaysian Ringgit (MYR) that always carries a 1:1 value.
Q: What is ROTI?
ROTI is Bread Protocol’s native token that is used as fees to convert (de-mint) MYB back into mainstream stablecoins, staking in the protocol, and governance in the BreadDAO to vote on protocol matters. ROTI is built on BEP-20 token standards.
Q: What is MYB?
MYB is a stablecoin pegged 1:1 to the Malaysian Ringgit. It is only minted when users deposit mainstream stablecoins into the Bread Protocol, and ROTI may be rewarded based on the Genesis Minting Reward schedule. MYB is de-minted or burned when users deposit MYB and an additional number of ROTI that amounts to 11% value of MYB to be de-minted. The user will obtain supported stablecoins at the end of the de-minting process.
Q: Is Bread Protocol safe? Is it audited?
Bread Protocol’s smart contracts are audited by Solidity Finance. You may check out Bread Protocol’s security audits: ________. All our smart contracts are publicly visible for maximum transparency here: _______. Bread Protocol uses multisig for all contracts, in line with security best practices.
Q: What is the max supply of ROTI and MYB?
The max supply of ROTI is 20 billion tokens. The supply of MYB is limited by the USD stablecoins collateralized in the Bread Protocol Treasury.
Q: How do I mint MYB stablecoins and ROTI?
Select ‘Mint’, and connect your Metamask wallet on Binance Smart Chain (BSC) Mainnet to Bread Protocol. If you have not set up BSC Mainnet on Metamask, please refer to Binance’s guide here. Select one of the accepted types of stablecoin to convert into MYB, input the desired amount, and preview how much MYB and ROTI you will receive. Select ‘Confirm’ once ready. The amount of USD stablecoins will be deducted from your wallet, and you will receive the corresponding amount of MYB and ROTI.
Q: How do I de-mint or convert MYB stablecoins into USD stablecoins?
Select ‘De-mint’, and input the desired amount of MYB. The corresponding amount of ROTI required to de-mint will be shown. You must ensure that your wallet has enough ROTI for the de-minting to succeed, otherwise you may purchase from any of the DEXes ROTI is listed on. Choose the type of USD stablecoin to convert into, and select ‘Confirm’ once ready. MYB will be burned, ROTI will be returned to the Bread Protocol Treasury and you will receive the corresponding amount in USD stablecoin.
Q: What are the fees for minting or de-minting MYB?
There is no fee charged for minting MYB from USD stablecoins. Nevertheless, a very tight spread (less than 0.3%) is applied to ensure the sustainable operation of the Protocol during MYB minting and de-minting.
For MYB de-minting back to USD stablecoins, additional ROTI that amounts to 11% of the value of de-minting MYRB is required.
Q: What stablecoins does Bread Protocol accept?
USDT, USDC, BUSD.
Q: How does Bread Protocol obtain the exchange rates for the stablecoins?
The Bread Protocol obtains foreign exchange rates from 6 reliable data sources, averages them and discards any outliers.
Q: Which wallets are accepted by Bread Protocol?
Metamask Wallet currently, with plans to integrate others in the future.
Q: What is the Genesis Minting Reward?
The Genesis Minting Reward is Bread Protocol’s initial rewards programme to accelerate adoption of ROTI and Bread Protocol’s stablecoins. Users who mint Bread Protocol’s stablecoins will be issued ROTI tokens as participation rewards, at the Genesis Award ratio (more incentive for earlier minters). More information can be found here: ________.