Helix Mechanism

What is $BNA?

$BNA are unique tokens that can be utilized to help stabilize $DNA price around peg (1 $DNA = 1 $USDC) by reducing circulating supply of $DNA if the time weighted average price (TWAP) goes below peg (1 $DNA = 1 $USDC).

When can I buy $BNA?

$BNA can be purchased only on contraction periods, when the TWAP of $DNA is below 1.

Every new epoch on contraction periods, $BNAs are issued in the amount of 3% of current $DNA circulating supply, with a max debt amount of 35%. This means that if bonds reach 35% of circulating supply of $DNA, no more bonds will be issued.

Note: $BNA TWAP is based on $DNA price TWAP from the previous epoch as it ends. This means that $DNA TWAP is real-time and $BNATWAP is not.

Where can I buy $BNA?

You can buy $BNAs if any are available under the bonds tab. Anyone can buy as many $BNA as they want as long as they have enough $DNA to pay for them.

There is a limit amount (3% of $DNA current circulating supply) of available $BNA per epoch while on contraction periods, and are sold as first come first serve.

Why should I buy $BNA (bonds)?

The first and most important reason is bonds help maintain the peg, but will not be the only measure use to keep the protocol on track. We also have a DAO fund which will step in and buy $DNA to get it back to peg.

$BNAsdon't have a expiration date, so you can view them as a investment on the protocol, because long-term you get benefits from holding bonds.

Incentives for holding $BNA

The idea is to reward $BNA buyers for helping the protocol, while also protecting the protocol from being manipulated from big players.