Bidao
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Bidao is a chain agnostic defi platform that is built to be a one-stop shop for swapping and exchanging tokens among different Layer 1 blockchains. It also provides a way to lock collateral into Collateralized Debt Positions (CDPs) to generate a trustless stablecoin (BAI), defining a new standard in Decentralized Finance. The governance token of this platform is known as BID and will have a 3% staking reward and a share of the 2% of the fees generated from the repayment of CDPs.
The problem that Bidao is solving is bringing Layer 1 chains together by building bridges between them and the Bidao chain, which will enable the swapping of tokens among different chains all on one platform. Bidao is also solving another problem, the learning curve of entering into the cryptocurrency space and Decentralized Finance. They are developing a mobile application as well as a browser extension. This will bring crypto into the hands of the general public in a much easier way.
Bidao’s closest, but not equal competition, consists of the likes of Maker Dao, Solana, and Venus, etc. The team is recognised and has formed many partnerships both inside and outside of the crypto space such as Digital Europe, the Emerging Payments Association, and the Enterprise Ethereum Alliance.
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