Maximize the power of your assets and start making profits with Backd liquidity pools. It is a trustless reactive liquidity protocol where users can profit and register actions with their liquidity.
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About Backd project
The $Backd protocol delegates liquidity to where it is most effective by deploying new feature rich liquidity pools, crop farming strategies, autonomous bots (custodians) and custom actions. Any user can contribute assets to the $Backd liquidity pool to earn income.
Additionally, users can make their liquidity reactive by registering their $Backd LP tokens in Actions. Registered LP tokens continue to generate income and rewards for $Backd until user-defined conditions are met and liquidity is sent to where it is needed.
The Backd governance token distribution is intended to incentivize key protocol stakeholders and facilitate participation in protocol governance. The stakeholders, included in the distribution, are:
| 1. | Liquidity providers (LPs). |
| 2. | Guardians. |
| 3. | AMM liquidity providers. |
The $Backd protocol deploys liquidity pools and strategies for yield aggregation for liquidity providers. After contributing assets to the Backd liquidity pool, users can register their LP tokens for action. Registered liquidity will continue to generate profits and rewards for Backd until needed elsewhere.
Reserve liquidity pools are isolated and dependent on assets. This means that each supported asset has its own pool and allows Backd to deploy pooled assets for an optimal farming strategy. In addition, single-asset pools benefit users due to the elimination of non-permanent losses.
The goal of the strategy - to maximize the return on the asset of the selected pool. Strategists who successfully deploy their strategy for the Backd pool receive a share of the pool's generated income. If you want to suggest a strategy, please contact Discord. All strategy profits are subject to a performance fee, which go to the pool strategist and Backd token holders.
More about defi app
Users can earn income by contributing assets to the pool in exchange for LP tokens. Funds, deposited in Backd pools, receive a combined return on strategy profits and platform fees. This means that instead of earned individually collecting interest, LP tokens are valued against the liquidity of the underlying pool (i.e. LP liquidity tokens represent an increase in value over time).