What is Bao (BAO)?
Bao is a project that utilizes users’ LPs from hot AMM platforms such as Uniswap, Balancer, SushiSwap to create Synthetic assets.
In addition to Bao being dumplings, BAO also stands for: balancing, automation and options. A great pun from the project team.
Website: Bao.finance
Highlights of Bao (BAO)
If talking about Synthetic assets, the name that stands out the most, and probably still holds the “unique” position in this segment for a while longer, is Synthetix (SNX). So what was Bao born to do?
According to the project, Synthetix or UMA both have the following limitations:
- Requires using the project’s own assets to mint Synthetic assets. This results in aggregate asset classes that are all exposed to ONE ASSETS risk.
- Like many other projects, when you lock your assets, it will not be able to be used elsewhere.
- In some cases (UMA), a project that needs to use Oracle involves people.
Bao can be seen as an “upgrade” to the LP assets coming from these projects. Eg:
- Users deposit wBTC and ETH into Uniswap pool and in return receive LP tokens wBTC / ETH UNIV2-LP.
- They use wBTC / ETH UNIV2-LP that as collateral in Bao Finance.
- When they deposit collateral into Bao, they earn BAO tokens, which are worth 10% of the collateral.
- They can then create synthetic assets worth up to their collateral limit by burning a small fee in BAO.
In this way, the benefits received will be:
- Earn from being LP in Uniswap/SushiSwap/Balancer.
- Earn profit from being LP for the above AMMs.
- Earn profit in BAO through using the aforementioned LP tokens as collateral.
- Create Synthetic assets to invest elsewhere with the same value as the original asset.
Bao Token Information (BAO)
Key Metrics HOW
- Token Name: BAO Token
- Ticker: HOW
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0x374cb8c27130e2c9e04f44303f3c8351b9de61c1
- Token Type: Utility, Governance.
- Total Supply: 897,871,357,079 BAO
- Circulating Supply: 48,321,575,423 BAO
Token Allocation
It seems that the project distributes tokens in a Fair launch style, so there is almost only one supply, Yield farming.
Distribution method: The reward received immediately is 5%, the remaining 95% will be locked for 1 year, unlocked and distributed gradually over the next 3 years.
Token Sale
Updating…
Token Release Schedule
Token Use Case
- Governance: BAO holders have the right to vote for project parameters, create proposals,…
- BAO can be used as collateral.
How to earn and own BAO Tokens
- Join Yield farming.
- Users can now buy on exchanges that support BAO.
Wallet & exchange BAO Token
BAO Token storage wallet
BAO is an ERC-20 token, so you can store it on wallets that support this standard of Ethereum. Typically Techtipsnreview Wallet: This is a multi-chain wallet product of Techtipsnreview Finance team. Allows storing most tokens of popular blockchains such as Bitcoin, Ethereum (ERC-20, ..).
Exchange BAO Token
BAO is currently traded on Uniswap, SushiSwap, FTX.
Roadmaps & Updates
Roadmap of the project is shown in the figure below:
Project team, investors, partners
Project team
Updating…
Investors
Updating…
Partner
Updating…
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Source: What is Bao (BAO)? Complete set of BAO cryptocurrencies
– TechtipsnReview
