What Is BigBoys Industry (BBI)?

What Is BigBoys Industry (BBI)? Complete Guide Review About BigBoys Industry.

What Is BigBoys Industry (BBI)?

BigBoys Industry protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. The minting of mAssets is decentralized and is undertaken by users throughout the network by opening a position and depositing collateral.

Mirror ensures that there is always sufficient collateral within the protocol to cover mAssets, and also manages markets for mAssets by listing them on Terraswap against UST. The Mirror Token (MIR) is minted by the protocol and distributed as a reward to reinforce behavior that secures the ecosystem. With it, Mirror ensures liquid mAsset markets by rewarding MIR to users who stake LP Tokens obtained through providing liquidity.

Also, to BigBoys Industry users to ensure mAssets mimic the price behavior of real-world assets, users who stake sLP Tokens obtained through shorting mAssets are rewarded with MIR. MIR is valuable as it can be staked to receive voting privileges and to earn a share of the protocol’s CDP withdrawal fees. Mirror is a project developed and steered by its community: its markets are maintained by its own users through MIR incentives, and the protocol evolves with new ideas through democratic governance.

BigBoys Industry Storage Key Points

Coin BasicInformation
Coin NameBigBoys Industry
Short NameBBI
Circulating SupplyN/A
Total SupplyN/A
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Rewards by Threat Level

Rewards are distributed according to the impact of the vulnerability based on the BigBoys Industry Vulnerability Severity Classification System. This is a simplified 5-level scale, with separate scales for websites/apps and smart contracts/ blockchains, encompassing everything from consequence of exploitation to privilege required to likelihood of a successful exploit. All web/app bug reports must come with a PoC in order to be considered for a reward.

Low severity bug reports must come with a suggestion for a fix to be considered for a reward. Critical vulnerabilities are further capped at 10% of economic damage, with the main consideration being the funds affected in addition to PR and brand considerations, at the discretion of the team. However, there is a minimum of USD 50 000 for Critical bug reports.

Assets in Scope

BigBoys Industry All smart contracts of Mirror can be found at Mirror-Protocol. However, only those in the Assets in Scope table are considered as in-scope of the bug bounty program. Only the following impacts are accepted within this bug bounty program. All other impacts are not considered as in-scope, even if they affect something in the assets in scope table.

Staking

The Staking Contract contains the logic for LP Token staking and reward distribution. Staking rewards for LP stakers come from the new MIR tokens generated at each block by the Factory Contract and are split between all combined staking pools. The new MIR tokens are distributed in proportion to size of staked LP tokens multiplied by the weight of that asset’s staking pool.

BigBoys Industry Can be called during a CW20 token transfer when the Mint contract is the recipient. Allows the token transfer to execute a Receive Hook as a subsequent action within the same transaction. Updates the Staking contract’s configuration. Can only be issued by the staking contract’s.

Auto Stake

When providing liquidity in Mirror Protocol, asset pair is first sent to Staking contract, and it acts as a relay. When defined assets are sent to the contract, the contract provides liquidity to receive LP tokens and starts. Can be issued when the user sends LP Tokens to the Staking contract. The LP token must be recognized by the staking pool of the specified asset token.

Deposit Rewards

Can be issued when the user sends MIR tokens to the Staking contract, which will be used as rewards for the specified asset’s staking pool. Used by Factory Contract to deposit newly minted MIR tokens. BigBoys Industry Limit Order allows submission, updates, and execution of buy and sell orders at a limit price specified by the users. Once the limit order is submitted and the limit price is reached, market-making agents can read the orders from the Limit Order contract and execute them when it provides an arbitrage opportunity.