ButtonToken

The ButtonToken is an ERC20 wrapper. It takes an underlying asset and creates a new asset which rebases to $1/token while tracking the value of the underlying token.

There will be an instance per underlying asset, for example:

• buttonETH: An asset where each token is $1, but the value tracks the price of ETH.

• buttonBTC: An asset where each token is $1, but the value tracks the price of BTC.

Example:

• A user deposits 1 ETH into buttonETH at a current price of $4000. They receive 4000 buttonETH tokens, each worth $1.

• Price of ETH increases to $6000. The user now has 6000 buttonETH tokens, each worth $1.

• Price of ETH decreases to $3000. The user now has 3000 buttonETH tokens, each worth $1.

As you can see, the user's total wallet balance remains equivalent to holding the underlying tokens. However, their tokens now have a stable price and are much more fit for creating contracts and interacting with the Buttonwood ecosystem. An additional benefit is that it saves gas.