Instead of reinventing the wheel, Bao.Finance is creating new features for existing protocols. The BAO token acts as a governance token for a fully community-driven project. It is also backed by an insurance fund where all fees go.
Contents:
Description of the Bao.Finance project
Вао (包) means treasure or package. Something wonderful wrapped in another layer. Bao Buns or Baozi (包子) in Chinese, are delicious wrapped dumplings. These bao buns are a tradition of taking something good that exists and wrapping it in a new treasure. Bao Finance aims to do this by being a new protocol that adds functionality to existing DeFi systems.
Synthetic assets are an important part of the decentralized ecosystem. They enable a decentralized infrastructure to offer assets that track the price of any system. This means that users can create synthetic assets that track either the BTC price or the reverse BTC price. It also means you can track the prices of stocks or other traditional assets, allowing users around the world to have reliable, decentralized, 24/7 access to stocks like $AAPL.
BAO solves problems by using existing assets from other protocols as collateral to:
| Firstly | The assets were optimized and did not stand idle. Users don't have to choose between protocols. |
| Secondly | Double risk turns into triple benefit as users receive LP fees, wagering fees and asset risk. |
| Thirdly | BAO tokens are backed by a Treasury Insurance Fund that contains>200 assets, minimizing the risk of a single asset failure. |
BAO is widespread, rewarding over 200 marketable assets, creating the most varied crop distribution in agricultural history so that everyone can participate with minimal risk.
Additional information
There is no WhitePaper document on the site. Instead, a document is presented with an introductory information and answers to questions.
Bao Finance is currently planning to add:
- Yield Farming.
- Yield farming and Sushi LP tokens.
- Synthetic assets for Uniswap, based on UniV2-LP tokens.
- Synthetic assets for Sushiswap, based on Sushi LP tokens.
- Uni / Sushi margin trading and limit orders, based on staked LP tokens.
- Credit pools, created with Uni / Sushi tokens.
- Automatic balancing systems allowing users to balance their synthetic assets, futures and LP tokens.
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