BakerDAO

BakerDAO

Created using Figma
Created using Figma
BakerDAO, a decentralized stablecoin borrowing protocol, has been deployed on Binance Smart Chain (BSC), allows users to generate decentralized BAI by over collateralisation BNB, BUSD, ETH, and BTCB.
To be announced
Additional Details
Categories
Platform

About BakerDAO

BakerDAO is an upgraded version of MakerDAO protocol on Binance Smart Chain(BSC). It is a multi-collateral decentralized stablecoin borrow system on BSC, which allow users to borrow decentralized stablecoin BAI by leveraging collateral assets like BNB, BUSD, ETH, BTC and so on. Excess collateral, self-balance system, liquidators and other ecosystem participants ensure that 1 BAI is soft-pegged to 1 USD. In addition, BakerDAO is non-custodial and completely decentralized, in which all processes are completed based on smart contracts on BSC. No one is entitled to use collateral assets or issue BAI and BKR arbitrarily.   BAI is a decentralized, unbiased, collateral-backed and stable currency issued by the BakerDAO system according to the borrow protocol, which is soft-pegged to the US dollar. With very low volatility, BAI can resist hyperinflation, ensure economic freedom and provide opportunities for anyone anywhere.   BKR is the decentralized governance token of BakerDAO, and its holders can use it to initiate proposals and vote to govern the major events or decide development directions for BakerDAO. For instance, the holders can modify such parameters as the stable fee rate and liquidation rate of collaterals, and they also have options for what type of new collaterals to support. Besides, BakerDAO is a decentralized stablecoin as well as a safe and reliable decentralized lending protocol. Currently, the amount of stablecoin DAI of MakerDAO on Ethereum has reached nearly 5 billion US dollars, which are all issued through collateral cryptocurrency, and the marketcap of the governance currency MKR coin marketcap has also reached nearly 5 billion US dollars. MakerDAO is the most complicated and largest decentralized application in the DeFi world so far. BakerDAO will certainly make another splendid achievement with its enormous market potential by relying on the high efficiency and low gas fee of the BSC chain and the innovative economic model.   BakerDAO includes 6 systems, which is borrow system, BAI liquidation pool, BAI stability pool, DAO pool, BKR farming, and aggregation platform in order to achieve three ultimate goals: peg BAI to 1 USD, share revenue to BKR and BAI holders, and build a prosperous multi-chain BAI ecosystem.   BKR farming is designed to reward BakerDAO system participants, BKR and BAI supporters. BakerDAO systems such as the BAI liquidation pool, DAO pool, and BAI stability pool, as well as BKR and BAI liquidity providers will be rewarded to encourage users to further participate in BakerDAO, hold BAI in a long term, maximize the fair distribution of BKR, expand the BAI and BKR holder base, and guarantee the interests of BKR holders. In the future, BakerDAO will be deployed on multiple chains, and BKR farming will be launched on multiple chains at the same time.

Activity

Followers:
2 921
MEDIUM
Tweets:
52
LOW
30 Days Growth:
3

BakerDAO Last News

$ 2.62
Crypto Stats
Daily, %:
Weekly, %:
Monthly, %:
Market Info
Market Cap:
Volume 24h:
$ 1.123 K
Circ. Supply:
Ticker:
BKR
  • Because there may be time differences in information updates, accurate information about each ICO project should be verified through its official website or other communication channels.
  • This information is not a suggestion or advice on investing in ICO funding. Please thoroughly investigate the relevant information yourself and decide on ICO participation.
  • If you think there are issues or problems to be corrected on this content, or if you would like to submit your own ICO project to be listed, Please email us.
Please read the disclaimer and risk warning. Show disclaimer and risk warning.