Other Binance-coins (BEP) can be integrated.
Binance-chain as Settlement Layer: Instead of using ETH as collateral and Ethereum as the settlement layer, BiDao uses BNB (Binance coin) as collateral and the Binancechain as Settlement Layer. Using BNB instead of ETH as collateral has multiple advantages for the Users.
The BiDao chain: BiDao uses a delegated Byzantine Fault Tolerance (dBFT)  consensus mechanism and can support thousands of transactions. The BID Token is used as the native Staking token. The Staking reward is set at around 3% annually. Because of dBFT Staking is extremely convenient. Just leave your BID untouched and your wallet will automatically start staking. The highest priority for the BiDao chain is to communicate with other Blockchains like Binance-chain and Ethereum. This way the BiDao system has access to many different crypto assets.
Stablecoin BAI: Once the Stablecoin (BAI) has been generated it can be used exactly like Bitcoin or Ethereum. Which means that it can be transferred between account or simply held in the Wallet. The Target Price for one BAI is 1 USD which means that it is 1:1 pegged to the US Dollar. This value is guaranteed due to the fact that in the case of a price drop of the Binance Coin the insufficiently backed contracts are liquidated and with this, the target price of the BAI can be maintained.
Stablecoins +4B USD
Over 4 billion USD are circulating as stablecoins.
Staking +8B USD Mcap
The marketcap of Stakingcoins is over 8 billion USD.
Decentralized Finance (DeFi) +450M Locked
Over 450 million USD is locked in Defi applications.
Fees on the BiDao Platform
2 Percent of the borrowed BID Tokens are withheld and 100% of which are distributed among the BiDao Token Holders and therefore acts as a usage fee on the platform.
Proof of Stake
The BID is a stake-able Token which means that its holders able to generate Passive income on top of the Fees of the Platform just by holding their coins. To Stake the BID Token all you need to do is download the BiDao wallet for your device, transfer your assets to it and after maturity period of 12 hours you automatically receive a staking reward.
On top of this, it’s not necessary to keep your wallet open all the time like with POS cryptocurrencies. This way you don’t need a powerful computing system or exorbitant amounts of electricity to earn your reward. With BiDao your receive a staking reward of about 3% which is much more than the Bank would pay you and there is no limit to the amount of BiDao you’re able to stake.
Bastian Aigner CEO
Brian Condenanza CTO
Caroline Kurpiers CMO
Xiaolong Zhang COO
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