BankerDoge: A DeFi as a Service Platform Empowering BSC Tokens

What is BankerDoge

Friends, imagine in the vibrant digital world of blockchain, there are all kinds of digital assets, which we commonly call “tokens.” These tokens are like stocks issued by different companies, each with their own rules and gameplay. However, many small companies (i.e., small projects) may not have enough resources to develop advanced features, such as allowing users to stake tokens to earn interest, or provide lending services. BankerDoge, abbreviated as BANKER, during its active period, acted as a platform that provided “financial services outsourcing” specifically for these small companies.

It is a “DeFi as a Service” platform—DeFi stands for “Decentralized Finance,” which you can think of as a financial system without banks or intermediaries. “As a Service” is like cloud computing—you don’t need to build your own servers, you just rent someone else’s service. So, BankerDoge provided token projects running on Binance Smart Chain (BSC) with financial tools and features such as staking, time-locking, and decentralized lending (DeFi Lending). Simply put, it helped other token projects easily have their own “bank vault,” allowing their holders to deposit tokens, earn yields, or perform other financial operations.

One of its core features was its “Vaults System.” You can think of these vaults as smart piggy banks—other projects’ tokens could deposit their tokens into them, and then, according to rules set by BankerDoge, provide rewards for their own token holders, such as extra token yields, or higher returns by locking tokens. In this way, those small projects didn’t need to develop these complex financial features from scratch—they could directly use BankerDoge’s mature solutions.

However, there is a very important piece of information to tell everyone: the BankerDoge project has already merged with another project called Altrucoin, and its token contract has also been “frozen.” This means the BANKER token is no longer operating independently, but has been swapped proportionally for Altrucoin’s token (ALTRU). Its official website (bankerdoge.com) has also been inaccessible since October 2024. So, what we’re discussing today about BankerDoge is more of a review of its past role and features.

Project Vision and Value Proposition

During its active period, BankerDoge’s vision was to become a community-driven platform dedicated to providing users with transparent, growth-oriented, and decentralized services. Its core values included charity, community, transparency, growth, decentralization, and security. Imagine, it aimed to build a “mutual aid community” for digital finance, not only allowing participants to gain economic benefits, but also, through community voting and other means, allocate part of the proceeds to charity, giving back to society.

The core problem it aimed to solve was that many emerging blockchain projects, especially those tokens on Binance Smart Chain (BSC), lacked mature DeFi infrastructure to attract and reward their community members. BankerDoge, by providing “DeFi as a Service” solutions, enabled these projects to quickly integrate staking, lending, and other features, thereby increasing the utility of their tokens and encouraging long-term holding. This model was quite innovative at the time—it didn’t issue a brand-new application itself, but empowered other projects to develop better.

Compared to similar projects, BankerDoge’s uniqueness lay in its focus on providing customized “vault” services for other BSC tokens. These vaults could be adjusted according to different tokens’ tokenomics to support their unique reward mechanisms, such as reflection mechanisms and dual token rewards. This flexibility allowed it to better adapt to the needs of various projects.

Technical Features

The technical core of BankerDoge lies in its smart contract-driven “Vaults System” and “DeFi as a Service” architecture.

Technical Architecture

The BankerDoge platform was built on Binance Smart Chain (BSC), a blockchain compatible with Ethereum but with faster transactions and lower fees. Its core is smart contracts, which are like automatically executed digital agreements responsible for managing vaults, staking, lending, and all other features. Through these smart contracts, BankerDoge was able to provide customized financial services for other BSC tokens.

Core Features

• Customizable Vaults: This was BankerDoge’s signature feature. Other projects could use BankerDoge’s vaults to design various staking schemes for their tokens, such as locking tokens for a period to earn higher yields, or flexible deposits and withdrawals.
• Reflection Mechanism: This is a tokenomics model where holders automatically receive a share of transaction fees just by holding the token, similar to stock dividends.
• Dual Token Rewards: Vaults could be set to reward not only BANKER tokens but also other tokens, increasing their attractiveness.
• BNB Redistribution and Auto Buyback: These are mechanisms designed to stabilize and increase the value of BANKER tokens. BNB redistribution means a portion of transaction fees is returned to holders in the form of BNB, while auto buyback automatically buys and burns BANKER tokens under certain conditions, reducing market supply.

Security Assurance

The BankerDoge project placed great emphasis on security, conducting both internal and external audits of its vault and token contracts, and using Gnosis Multisig Safe multi-signature wallets to control contracts. Multi-signature wallets are like safes that require multiple people to sign before funds can be moved, greatly increasing fund security.

Tokenomics

“Tokenomics” may sound technical, but it’s actually the study of a cryptocurrency token’s economic model, including its issuance, distribution, usage, and value drivers. For the BANKER token, its design goal was to support the BankerDoge platform’s services and reward its holders.

Basic Token Information

• Token Symbol: BANKER
• Issuing Chain: Binance Smart Chain (BEP20 standard)
• Total Supply: 1,000,000,000 BANKER (1 billion)
• Current Circulating Supply: About 631,907,135 BANKER, accounting for 63.19% of the total supply.

Token Mechanisms

The BANKER token’s economic model included some interesting mechanisms:

• Transaction Fees: BANKER tokens charged certain fees on transactions, for example, a 12% fee on purchases and an 18% fee on sales. Part of these fees was used for buyback and burning, part for rewarding holders, and part for project operations and marketing.
• Auto Buyback and Burn: The platform would automatically buy back BANKER tokens from the market and burn them according to preset rules, helping to reduce the total supply and theoretically increase the value of the remaining tokens, similar to a company buying back its own stock.
• Reflection Mechanism: Users holding BANKER tokens could automatically receive a portion of rewards from transaction fees without any extra action.

Token Utility

During BankerDoge’s active period, the main uses of the BANKER token included:

• Entering and Exiting Vaults: Users needed to use BANKER tokens to participate in various vault services provided by BankerDoge.
• Platform Fees: Paying fees for using BankerDoge platform services.
• Governance: As part of a community-driven project, BANKER tokens could be used to participate in project governance and vote on important decisions.

It must be emphasized again that, since BankerDoge has merged with Altrucoin and the BANKER token contract has been frozen, these original uses of the BANKER token are no longer applicable. Current BANKER token holders have had their tokens swapped proportionally for Altrucoin tokens.

Team, Governance, and Funds

Core Members and Team Features

During the project’s active period, the BankerDoge team was doxxed, meaning the real identities of team members were transparent. This is usually seen as a positive signal in the crypto space, as it increases the project’s credibility. The team also successfully created another crypto project, Altrucoin.io. This experience was valuable for the project’s development and operations.

Governance Mechanism

BankerDoge was committed to being a community-driven project, meaning it wanted community members to participate in project decision-making. Typically, in decentralized projects, token holders can vote to influence the project’s direction, parameter adjustments, etc. Although the specific details of the governance model are not detailed in the available information, its community-driven philosophy indicates a pursuit of decentralized governance.

Vaults and Funds

In the early stages, BankerDoge raised funds through presales and other means—for example, raising over 1,100 BNB in one presale. These funds were used for project development, marketing, and liquidity provision. The project also promised to allocate part of the funds to charity, reflecting its core values.

Roadmap

A roadmap is like the project’s development blueprint, showing its past key milestones and future plans. For BankerDoge, we are reviewing its past plans and development trajectory.

Historical Key Milestones and Events

• Project Launch and Presale: BankerDoge launched its token issuance on September 13, 2021, via the DxSale platform, and successfully raised significant funds in the prior presale.
• Vaults System Launch: At project launch, its core vaults system was already live and in use, providing staking services for other BSC tokens.
• Collaboration with Other Projects: BankerDoge actively established partnerships with other BSC token projects, providing them with customized DeFi services.
• Internal and External Audits: To ensure security, the project conducted audits of its smart contracts.
• Merger with Altrucoin: This was one of BankerDoge’s most important historical events—the project ultimately merged with Altrucoin, BANKER tokens were swapped for ALTRU tokens, and the BANKER contract was frozen.
• Website Shutdown: BankerDoge’s official website (bankerdoge.com) was taken offline on October 22, 2024.

Future Key Plans and Milestones (No Longer Applicable)

During its active period, BankerDoge had planned the following development directions:

• Platform Decentralization: Further transferring platform control to the community.
• DeFi Lending Platform Launch: Launching its own decentralized lending service.
• Introducing More Token Use Cases: Developing more application scenarios for the BANKER token.

However, since the project has merged and the BANKER token contract has been frozen, these original future plans are no longer applicable to the BANKER token itself. These plans may have been integrated into the Altrucoin project or discontinued.

Common Risk Reminders

Investing in any cryptocurrency project carries risks, and for a project like BankerDoge, which has merged and whose token contract has been frozen, the risks are particularly pronounced. Here are some common risk reminders:

Project Status Risks

• Project Merger and Token Freeze: BankerDoge has merged with Altrucoin, and the BANKER token contract has been frozen. This means the BANKER token is no longer developing independently, and its value and functionality are entirely dependent on the Altrucoin project.
• Website Shutdown: The official website is inaccessible, making it difficult to obtain the latest project information and support.
• Liquidity Risk: Since the project has merged and the token contract is frozen, BANKER token trading liquidity may be very low or even non-existent.

Technical and Security Risks

• Smart Contract Risks: Although the project claims to have been audited, smart contracts may still have undiscovered vulnerabilities, which could lead to asset loss.
• Blockchain Network Risks: As a project on Binance Smart Chain, it also faces risks inherent to the BSC network itself, such as network congestion, security vulnerabilities, etc.

Economic Risks

• Value Volatility: The cryptocurrency market is extremely volatile, and token prices may rise or fall sharply in a short period. For tokens that have merged and are no longer developing independently, their value fluctuations may be even harder to predict.
• Market Acceptance: The project’s success largely depends on the market acceptance of its services and tokens.

Compliance and Operational Risks

• Regulatory Uncertainty: Global regulatory policies on cryptocurrencies are still evolving, and future regulatory changes may negatively impact the project.
• Centralization Risk: Although the project claims to be community-driven, in the early stages, the team still had significant control, which may pose some centralization risk.

Important Note: The above risk reminders are not exhaustive and do not constitute any investment advice. Please be sure to conduct thorough independent research and risk assessment before making any investment decisions.

Verification Checklist

When researching any blockchain project, here are some key pieces of information you can verify yourself:

• Block Explorer Contract Address: Binance Smart Chain (BEP20) contract address:
  0xf06419c638a1d809c024aa693147dbdc42b60145
  . You can view the contract’s transaction records, holder distribution, and other information via block explorers like BSCScan.
• GitHub Activity: Check whether the project has a public GitHub repository and review its code update frequency and community contributions. Since BankerDoge has merged, its GitHub activity may have shifted to the Altrucoin project.
• Official Website: BankerDoge’s official website (bankerdoge.com) is currently inaccessible.
• Whitepaper: Although the official website is offline, some third-party platforms may still provide links to the BankerDoge whitepaper.
• Social Media: Check the project’s Twitter (now X), Telegram, Medium, and other social media platforms to understand its historical community activity and announcements.

Project Summary

BankerDoge (BANKER), during its active period, was an innovative “DeFi as a Service” project on Binance Smart Chain (BSC). It aimed to enhance the ecosystem of other BSC token projects and reward their community members by providing financial tools such as staking and lending. Its core customizable vaults system, as well as tokenomics featuring reflection mechanisms and auto buyback and burn, all reflected its exploration in the DeFi field. The project team was open and transparent, and committed to community-driven initiatives and charity.

However, it is important to note that the BankerDoge project has merged with Altrucoin, and the BANKER token contract has been frozen. This means the BANKER token is no longer operating independently, and its original features and value have been transferred to Altrucoin. Its official website has also been taken offline. Therefore, our understanding of BankerDoge today is more of a review of its historical role and contributions.

For anyone interested in BankerDoge or its successor Altrucoin, it is strongly recommended that you conduct in-depth independent research to understand the latest developments, team, technology, and risks of Altrucoin. The cryptocurrency market is full of uncertainty, and no information should be taken as investment advice. Please be sure to carefully assess risks and make decisions based on your own judgment.