🚨Attention to all BDV token holders 🚨
According to the general requests, today a vote on the value of the BDV governance token has finally been initiated by the user.
❗️Voting takes place on the BSC (Binance Smart Chain) network.
The voting is on:
📍The cost of the BDV control token
📍Loaning fees reduced when using BDV tokens in settlements
📍Listing on DEX and CEX exchanges. Creation of liquidity pools.
BDV are BEP-20 tokens built into the BaksDAO protocol. The token is a platform co-management tool.
The issue of the token is tied to the growth of the TVL (Total Value Locked) funds of the platform.
The emission of BDV during the launch of the project will be 50 million tokens. The launch of the project is scheduled for January 2022. In total, 2 billion tokens will be issued, 1 billion tokens will be burned during the operation of the platform.
At the moment, you can get a BDV token by participating in BaksDAO contests. Follow the announcements in our community.
The main value of the token is the ability to manage the platform. Each owner of the token has the right to vote on the development of the BaksDAO, as well as to make their own proposals.
✅ In order to vote for changes you need:
➡️ Go to the voting page;
➡️ Connect wallet;
➡️ Join a group;
➡️ Examine the proposals put to the vote;
➡️ Vote.
The BaksDAO platform adheres to the principle of collective management. Therefore, every vote is important for the future development of the service.
⏰ Voting will be held within 72 hours.
Voting is carried out in batches, that is, you can vote for or against all proposals once.
Join voting 🗳 https://snapshot.org/#/baksdao.eth
According to the general requests, today a vote on the value of the BDV governance token has finally been initiated by the user.
❗️Voting takes place on the BSC (Binance Smart Chain) network.
The voting is on:
📍The cost of the BDV control token
📍Loaning fees reduced when using BDV tokens in settlements
📍Listing on DEX and CEX exchanges. Creation of liquidity pools.
BDV are BEP-20 tokens built into the BaksDAO protocol. The token is a platform co-management tool.
The issue of the token is tied to the growth of the TVL (Total Value Locked) funds of the platform.
The emission of BDV during the launch of the project will be 50 million tokens. The launch of the project is scheduled for January 2022. In total, 2 billion tokens will be issued, 1 billion tokens will be burned during the operation of the platform.
At the moment, you can get a BDV token by participating in BaksDAO contests. Follow the announcements in our community.
The main value of the token is the ability to manage the platform. Each owner of the token has the right to vote on the development of the BaksDAO, as well as to make their own proposals.
✅ In order to vote for changes you need:
➡️ Go to the voting page;
➡️ Connect wallet;
➡️ Join a group;
➡️ Examine the proposals put to the vote;
➡️ Vote.
The BaksDAO platform adheres to the principle of collective management. Therefore, every vote is important for the future development of the service.
⏰ Voting will be held within 72 hours.
Voting is carried out in batches, that is, you can vote for or against all proposals once.
Join voting 🗳 https://snapshot.org/#/baksdao.eth
❗️Dear BaksDAO community members!❗️
The BaksDAO team values its community and would like to know and communicate with its users closer, so we are opening the reception of questions for an AMA session with founders, which will take place in nearest future ✅
You can also prepare any questions and send them in PM to @baksdao_qa 🤗
❗️More over, you have a chance to receive BDV tokens for the best question!💎
🕹The rules are:
1. Write in PM to @baksdao_qa your question and send the number of wallet with it
2. This Friday on 28th of January BaksDAO
🔮Team will choose the TOP-3 most interesting questions and the winners will get:
🥇1st place 500 BDV
🥈2nd place 350 BDV
🥉3rd place 200 BDV
All the questions must be in English 😊🇦🇺
The BaksDAO team values its community and would like to know and communicate with its users closer, so we are opening the reception of questions for an AMA session with founders, which will take place in nearest future ✅
You can also prepare any questions and send them in PM to @baksdao_qa 🤗
❗️More over, you have a chance to receive BDV tokens for the best question!💎
🕹The rules are:
1. Write in PM to @baksdao_qa your question and send the number of wallet with it
2. This Friday on 28th of January BaksDAO
🔮Team will choose the TOP-3 most interesting questions and the winners will get:
🥇1st place 500 BDV
🥈2nd place 350 BDV
🥉3rd place 200 BDV
All the questions must be in English 😊🇦🇺
❗️Dear Friends!❗️
The BaksDAO team thanks all the users who voted!🤗
We are glad to inform you that according to the results of the voting (out of 146 votes -139 in favor and 7 against), the following was adopted:
📍The initial cost of the BDV control token.
📍Reducing the loan fee when using BDV tokens in calculations.
📍Listing on DEX and CEX exchanges. Creation of liquidity pools.
BDV are BEP-20 tokens built into the BaksDAO protocol. The token is a platform co-management tool.
The issue of the token is tied to the growth of the TVL (Total Value Locked) funds of the platform.
The emission of BDV during the launch of the project will be 50 million tokens. The launch of the project is scheduled for January 2022. In total, 2 billion tokens will be issued, 1 billion tokens will be burned during the operation of the platform.
At the moment, you can get a BDV token by participating in BaksDAO contests. Follow the announcements in our community.
The main value of the token is the ability to manage the platform. Each owner of the token has the right to vote on the development of the BaksDAO, as well as to make their own proposals.
🎁Thank you all for participating! The decisions made will be implemented by the end of the 2nd quarter of 2022!
The BaksDAO team thanks all the users who voted!🤗
We are glad to inform you that according to the results of the voting (out of 146 votes -139 in favor and 7 against), the following was adopted:
📍The initial cost of the BDV control token.
📍Reducing the loan fee when using BDV tokens in calculations.
📍Listing on DEX and CEX exchanges. Creation of liquidity pools.
BDV are BEP-20 tokens built into the BaksDAO protocol. The token is a platform co-management tool.
The issue of the token is tied to the growth of the TVL (Total Value Locked) funds of the platform.
The emission of BDV during the launch of the project will be 50 million tokens. The launch of the project is scheduled for January 2022. In total, 2 billion tokens will be issued, 1 billion tokens will be burned during the operation of the platform.
At the moment, you can get a BDV token by participating in BaksDAO contests. Follow the announcements in our community.
The main value of the token is the ability to manage the platform. Each owner of the token has the right to vote on the development of the BaksDAO, as well as to make their own proposals.
🎁Thank you all for participating! The decisions made will be implemented by the end of the 2nd quarter of 2022!
🎉 BAKSDAO PLATFORM IS READY TO RELEASE 🎉
Dear Friends, we have all been waiting for this day and now it has come. Today we are launching a working version of the BaksDAO DeFi platform 🎊
With BaksDAO you can:
+ Take a perpetual loan
+ Earn on deposits up to 15% annualy
+ Exchange currency directly on the platform
+ Become a member of a decentralized community and impact the future of the project
+ Get profit from the growth of the token
+ Improve knowledge in the crypto industry
➡️ Launch App
The BaksDAO platform and all smart contracts have been twice audited for cybersecurity and performance by the Solid Proof auditor. During the check there were no critical errors found. All important comments were fixed before the release 🎉
We remind you that the BaksDAO platform has two tokens - the BAKS stablecoin and the government token BDV.
➡️ Learn more about tokens here
Especially for you, we have developed instructions and tips that will help you to use the service for the first time.
We keep the ability to test BaksDAO platform for all users at baksdao.tech so that you can test your strategies on the testnet.
You can send any comments during testing directly to the test chat
In the chat you will find detailed instructions for the test.
We thank everyone who supports the project and waited for the release with us!
The BaksDAO platform is constantly evolving - stay with us, work with industry trends and get the most!
Let's open the veil of secrecy: in the near future we will delight you with the most interesting integrations with the Metaverses, the leaders of the gaming industry, NFT and other representatives of the crypto industry!
Join the BaksDAO platform.
You can leave your feedback, impressions and questions about the product in our community
Welcome to BaksDAO! Increase by saving. Get the most out of your assets!
Dear Friends, we have all been waiting for this day and now it has come. Today we are launching a working version of the BaksDAO DeFi platform 🎊
With BaksDAO you can:
+ Take a perpetual loan
+ Earn on deposits up to 15% annualy
+ Exchange currency directly on the platform
+ Become a member of a decentralized community and impact the future of the project
+ Get profit from the growth of the token
+ Improve knowledge in the crypto industry
➡️ Launch App
The BaksDAO platform and all smart contracts have been twice audited for cybersecurity and performance by the Solid Proof auditor. During the check there were no critical errors found. All important comments were fixed before the release 🎉
We remind you that the BaksDAO platform has two tokens - the BAKS stablecoin and the government token BDV.
➡️ Learn more about tokens here
Especially for you, we have developed instructions and tips that will help you to use the service for the first time.
We keep the ability to test BaksDAO platform for all users at baksdao.tech so that you can test your strategies on the testnet.
You can send any comments during testing directly to the test chat
In the chat you will find detailed instructions for the test.
We thank everyone who supports the project and waited for the release with us!
The BaksDAO platform is constantly evolving - stay with us, work with industry trends and get the most!
Let's open the veil of secrecy: in the near future we will delight you with the most interesting integrations with the Metaverses, the leaders of the gaming industry, NFT and other representatives of the crypto industry!
Join the BaksDAO platform.
You can leave your feedback, impressions and questions about the product in our community
Welcome to BaksDAO! Increase by saving. Get the most out of your assets!
📢 Dear community members, we're announcing a competition for the best project review! 📢
Are you creative, can write interestingly or tell you about something? Then this news is for you!
⚠️Conditions:
- Research the requirements.
- Create and post a review of the project and platform on any of the social networks: Medium, YouTube, Twitter, Facebook, Instagram, Telegram, Reddit, BitcoinTalk or another site (your blog, review site, etc.).
- Fill out the form.
-Look for yourself in the list of winners at the end of the month.
💰 Prizes:
Total prize pool of 86,400 BDV. At the end of each month, the BaksDAO team will determine the top 10 reviews.
The winners will receive prizes:
🥇 1st place -1500 BDV (video review only);
🥈 2nd place -1200 BDV (video review only);
🥉 3 place -1000 BDV (video review only);
🏆 4th-7th place - 500 BDV (text review).
❗️Notes: if a contestant does not fill out a Google form, they are considered out of the contest.
Are you creative, can write interestingly or tell you about something? Then this news is for you!
⚠️Conditions:
- Research the requirements.
- Create and post a review of the project and platform on any of the social networks: Medium, YouTube, Twitter, Facebook, Instagram, Telegram, Reddit, BitcoinTalk or another site (your blog, review site, etc.).
- Fill out the form.
-Look for yourself in the list of winners at the end of the month.
💰 Prizes:
Total prize pool of 86,400 BDV. At the end of each month, the BaksDAO team will determine the top 10 reviews.
The winners will receive prizes:
🥇 1st place -
🥈 2nd place -
🥉 3 place -
🏆 4th-7th place - 500 BDV (text review).
❗️Notes: if a contestant does not fill out a Google form, they are considered out of the contest.
🚨 WARNING 🚨
Dear users, the cases of fraud and appearance of fake pages became more frequent.
BaksDAO project and team members NEVER ask to transfer funds, follow suspicious links, do not write personal messages, do not ask for passwords and wallet keys.❌
☠️Signs of scammers:
- They write in personal messages on behalf of a team or project.
- They create copies of channels, pages, and write in the comments of the official community.
- They ask to transfer money to a purse.
- Send unknown links.
- Request personal information.
Our official social networks:
Telegram Blog (ru)
Telegram Chat (ru)
Telegram Blog (eng)
Telegram Chat (eng)
Twitter
Facebook
Reddit
Instagram
Linkedin
Dear users, the cases of fraud and appearance of fake pages became more frequent.
BaksDAO project and team members NEVER ask to transfer funds, follow suspicious links, do not write personal messages, do not ask for passwords and wallet keys.❌
☠️Signs of scammers:
- They write in personal messages on behalf of a team or project.
- They create copies of channels, pages, and write in the comments of the official community.
- They ask to transfer money to a purse.
- Send unknown links.
- Request personal information.
Our official social networks:
Telegram Blog (ru)
Telegram Chat (ru)
Telegram Blog (eng)
Telegram Chat (eng)
Telegram
BaksDAO Blog
DeFi-платформа: депозит, займы и обмен криптовалюты.
Это официальное комьюнити BaksDAO.
Telegram Чат: https://news.1rj.ru/str/BaksDAO_COMMUNITY
Официальный сайт: baksdao.com
Для коммерческих предложений: @baksdao_qa
Это официальное комьюнити BaksDAO.
Telegram Чат: https://news.1rj.ru/str/BaksDAO_COMMUNITY
Официальный сайт: baksdao.com
Для коммерческих предложений: @baksdao_qa
Why is DeFi rapidly gaining momentum, and why are large funds pouring their money into projects❓
Many people ask this question, but don't find the answer.
It's elementary, Watson!☝️ It's enough to remember the hellish bureaucracy in any financial operations:
- crediting;
- trading in stock exchanges;
- making a deposit in a bank;
- insurance.
First they will ask for your passport, personal information of your wife, grandparents, how often you go to visit, then they will ask for your dog's full birth certificate and only after that they will probably approve your application.
Are you crying already? 🥲
DeFi is a simple, convenient financial system that preserves your right to privacy.
Read more about how DeFi is changing our financial reality in 👉 A NEW ARTICLE
Many people ask this question, but don't find the answer.
It's elementary, Watson!☝️ It's enough to remember the hellish bureaucracy in any financial operations:
- crediting;
- trading in stock exchanges;
- making a deposit in a bank;
- insurance.
First they will ask for your passport, personal information of your wife, grandparents, how often you go to visit, then they will ask for your dog's full birth certificate and only after that they will probably approve your application.
Read more about how DeFi is changing our financial reality in 👉 A NEW ARTICLE
Medium
DeFi as the new reality of the financial world
We suggest that we take our eyes off the exact numbers and calculations. Think about the role of DeFi in the economy and the global…
💰What are the ways to invest in cryptocurrency?
The most popular mechanisms for investing in cryptocurrencies:
1. Buying cryptocurrencies directly. The most popular option to buy cryptocurrencies directly is through a specialized cryptocurrency exchange.
2. P2P buying. The point is that you exchange your currency with another person, not a company (as in the case of a cryptocurrency exchange). You can make a P2P purchase of crypto on BaksDAO.
3. Hedge funds. These are large investment organizations that pool capital for active trading in order to profit from market movements. The only problem with this method of investing is that it requires quite a lot of capital from the individual.
4. Cryptocurrency mining. In this process, new transactions are verified and added to the blockchain by specialized computers. The miner who solves the algorithm and adds a new block of transactions is rewarded in the form of mined cryptocurrency.
5. Stacking. This is the process by which users stack their tokens in order to get additional tokens as income. Validator nodes verify transactions and are rewarded for this in the form of cryptocurrencies.
6. Airdrop. This is a time-limited event that is created by a cryptocurrency project to promote its digital asset. With Airdrop, the project distributes its cryptocurrencies for free to those people who fulfill special conditions.
7. ICO, IDO, IEO. When a project is just launched, it needs to attract investments.Investors get crypto assets at the lowest prices, and when the project is launched, its price usually grows by at least 2 times.
8. Cryptocurrency companies stocks. There are cryptocurrency companies whose shares are traded on the stock market. And the price of these shares depends on the growth of the cryptocurrency market.
BaksDAO offers you several ways to invest in digital currencies.
💰Earn:
- Make a deposit at BaksDAO.
- Get passive interest income.
🔄Exchange:
- Connect a wallet on BaksDAO.
- Exchange your currency for any available token.
💸Borrow:
Don't forget about the loan option on BaksDAO. You can use the funds you receive to your advantage, e.g. to develop your business.
❤️ With BaksDAO, you can use your funds for maximum profit, preserving your assets! ❤️
The most popular mechanisms for investing in cryptocurrencies:
1. Buying cryptocurrencies directly. The most popular option to buy cryptocurrencies directly is through a specialized cryptocurrency exchange.
2. P2P buying. The point is that you exchange your currency with another person, not a company (as in the case of a cryptocurrency exchange). You can make a P2P purchase of crypto on BaksDAO.
3. Hedge funds. These are large investment organizations that pool capital for active trading in order to profit from market movements. The only problem with this method of investing is that it requires quite a lot of capital from the individual.
4. Cryptocurrency mining. In this process, new transactions are verified and added to the blockchain by specialized computers. The miner who solves the algorithm and adds a new block of transactions is rewarded in the form of mined cryptocurrency.
5. Stacking. This is the process by which users stack their tokens in order to get additional tokens as income. Validator nodes verify transactions and are rewarded for this in the form of cryptocurrencies.
6. Airdrop. This is a time-limited event that is created by a cryptocurrency project to promote its digital asset. With Airdrop, the project distributes its cryptocurrencies for free to those people who fulfill special conditions.
7. ICO, IDO, IEO. When a project is just launched, it needs to attract investments.Investors get crypto assets at the lowest prices, and when the project is launched, its price usually grows by at least 2 times.
8. Cryptocurrency companies stocks. There are cryptocurrency companies whose shares are traded on the stock market. And the price of these shares depends on the growth of the cryptocurrency market.
BaksDAO offers you several ways to invest in digital currencies.
💰Earn:
- Make a deposit at BaksDAO.
- Get passive interest income.
🔄Exchange:
- Connect a wallet on BaksDAO.
- Exchange your currency for any available token.
💸Borrow:
Don't forget about the loan option on BaksDAO. You can use the funds you receive to your advantage, e.g. to develop your business.
❤️ With BaksDAO, you can use your funds for maximum profit, preserving your assets! ❤️
💰The U.S. Figure Skating Association (US Figure Skating) has started accepting donations in cryptocurrencies.
This is stated in a press release. Now anyone can send donations in bitcoin, Ethereum, Dogecoin, Stablecoin and other assets on the association's website.
✅On the face of it, this appears to be ordinary news, but if you think about it, it speaks volumes:
- A worldwide trend of acceptance of digital finance.
- The rejection of the stereotype of "high-risk" instruments.
- popularization and adoption of decentralized technologies in ordinary life.
- The demand for cryptocurrencies.
🔥This domestic use of cryptocurrencies is no longer uncommon these days. This means that cryptocurrencies is gradually penetrating into everyday financial life. And this is a great success for us, because we are all making efforts to make financial matters easier and more accessible.
When do you think decentralized finance will completely replace the fiat money system? Write in the comments below the post. 👇👇👇
This is stated in a press release. Now anyone can send donations in bitcoin, Ethereum, Dogecoin, Stablecoin and other assets on the association's website.
✅On the face of it, this appears to be ordinary news, but if you think about it, it speaks volumes:
- A worldwide trend of acceptance of digital finance.
- The rejection of the stereotype of "high-risk" instruments.
- popularization and adoption of decentralized technologies in ordinary life.
- The demand for cryptocurrencies.
🔥This domestic use of cryptocurrencies is no longer uncommon these days. This means that cryptocurrencies is gradually penetrating into everyday financial life. And this is a great success for us, because we are all making efforts to make financial matters easier and more accessible.
When do you think decentralized finance will completely replace the fiat money system? Write in the comments below the post. 👇👇👇
📢 A new addition to the project review competition!
We've added extra rewards for reposts so that everyone has a chance to win!
⚠️Conditions:
- Research the requirements.
- Create and post a review of the project and platform on any of the social networks: Medium, YouTube, Twitter, Facebook, Instagram, Telegram, Reddit, BitcoinTalk or another site (your blog, review site, etc.).
- Fill out the form.
-Look for yourself in the list of winners at the end of the month.
💰 Prizes:
Total prize pool of 86,400 BDV + additional prizes. At the end of each month, the BaksDAO team will determine the top 10 reviews.
The winners will receive prizes:
🥇 1st place - 1500 BDV (video review only);
🥈 2nd place - 1200 BDV (video review only);
🥉 3 place - 1000 BDV (video review only);
🏆 4th-7th place - 500 BDV (text review).
🏆 BDV extra prizes for reposts.
❗️Notes: if a contestant does not fill out a Google form, they are considered out of the considered out of the contest.
We've added extra rewards for reposts so that everyone has a chance to win!
⚠️Conditions:
- Research the requirements.
- Create and post a review of the project and platform on any of the social networks: Medium, YouTube, Twitter, Facebook, Instagram, Telegram, Reddit, BitcoinTalk or another site (your blog, review site, etc.).
- Fill out the form.
-Look for yourself in the list of winners at the end of the month.
💰 Prizes:
Total prize pool of 86,400 BDV + additional prizes. At the end of each month, the BaksDAO team will determine the top 10 reviews.
The winners will receive prizes:
🥇 1st place - 1500 BDV (video review only);
🥈 2nd place - 1200 BDV (video review only);
🥉 3 place - 1000 BDV (video review only);
🏆 4th-7th place - 500 BDV (text review).
🏆 BDV extra prizes for reposts.
❗️Notes: if a contestant does not fill out a Google form, they are considered out of the considered out of the contest.
🔥A road map for the near future.
It's going to be fascinating!
1️⃣Step 1. Listing BAKS.
Baks listing on the centralized exchange. This is our big step!
2️⃣Step 2. Preparing for the IDO BDV.
We have prepared several big competitions for you with a total pool of prizes of $10,000, an ambassador program with prizes. And most importantly, the opportunity to get on the IDO waitlist! To get on the waitlist, take part in all the competition and the ambassador program now.
3️⃣Step 3. IDO BDV.
This is a very exciting and important moment for BaksDAO in which you can take part.
⚠️Details about the ambassador program, competition, and IDO BDV will be announced.
✅Current competition: https://news.1rj.ru/str/BaksDAO_IntBlog/80
It's going to be fascinating!
1️⃣Step 1. Listing BAKS.
Baks listing on the centralized exchange. This is our big step!
2️⃣Step 2. Preparing for the IDO BDV.
We have prepared several big competitions for you with a total pool of prizes of $10,000, an ambassador program with prizes. And most importantly, the opportunity to get on the IDO waitlist! To get on the waitlist, take part in all the competition and the ambassador program now.
3️⃣Step 3. IDO BDV.
This is a very exciting and important moment for BaksDAO in which you can take part.
⚠️Details about the ambassador program, competition, and IDO BDV will be announced.
✅Current competition: https://news.1rj.ru/str/BaksDAO_IntBlog/80
💥BAKS LISTING ON FEBRUARY 14!💥
Hooray! On February 14, BAKS will be listed on the centralized exchange in the following pairs: BAKS/USDT, BAKS/BTC, BAKS/ETH.
🤑About the BAKS token:
— It is an algorithmic Stablecoin.
— The coin's liquidity is fully secured by the BaksDAO system's smart contracts.
— 1 BAKS is always equal to $1.
💪 BAKS is the main currency of the platform and is used for all major transactions in BaksDAO.
The coin is deposited as collateral when applying for a loan. The token can be deposited or exchanged for other popular cryptocurrencies — BTC/BNB/ETH/USDT. The list of available currencies for exchange will be expanded in the future.
🔥Guess the first exchange to list BAKS and get 100 BDV.🔥
Write your ONE option and BSC network wallet number (BEP-20) in the comments. (Just the noscript, no links)👇👇👇
Hooray! On February 14, BAKS will be listed on the centralized exchange in the following pairs: BAKS/USDT, BAKS/BTC, BAKS/ETH.
🤑About the BAKS token:
— It is an algorithmic Stablecoin.
— The coin's liquidity is fully secured by the BaksDAO system's smart contracts.
— 1 BAKS is always equal to $1.
💪 BAKS is the main currency of the platform and is used for all major transactions in BaksDAO.
The coin is deposited as collateral when applying for a loan. The token can be deposited or exchanged for other popular cryptocurrencies — BTC/BNB/ETH/USDT. The list of available currencies for exchange will be expanded in the future.
🔥Guess the first exchange to list BAKS and get 100 BDV.🔥
Write your ONE option and BSC network wallet number (BEP-20) in the comments. (Just the noscript, no links)👇👇👇
🤔 What types of stablecoins are there?
Every cryptocurrency trader or investor has used stablecoins at least once. But very few are aware of the differences between these tokens. Let's get to the bottom of it.
❓ Stablecoin definition.
Stablecoin is a crypto-asset whose price is secured by classical assets, cryptocurrencies or a physical product and remains unchanged. It can be fiat currency, bitcoin, gold, securities, or another commodity that has value on the market and is recognized as legal tender.
📌 Types of Stablecoins:
1️⃣ Fiat-backed. They are pegged to fiat currencies 1:1. The issuer holds a certain amount in the reserve currency and issues a number of tokens in proportion to it. At the same time, the counterparty may not know whether the issuer has reserve funds.
2️⃣ Cryptocurrencies. These are backed by cryptocurrencies. To obtain these tokens, users lock the necessary cryptocurrency into a contract, which then issues a certain number of requested coins. Users then send stablecoins to the same contract to exchange the currency back for collateral.
3️⃣ Resource-backed. A type of stable currency whose price is tied to a valuable resource or commodity: gold, silver, or oil.
4️⃣ Algorithmic Stablecoins. They are not directly tied to fiat currencies or cryptocurrencies. Binding is provided by a smart contract, an algorithm that issues the token. If the value of the token falls below the fiat price, the algorithm system reduces the supply of the token. If the price of the token exceeds the price of fiat, new coins are issued that will lower the price of the stablecoin. An example of an algorithmic stablecoin is the BAKS stablecoin.
Every cryptocurrency trader or investor has used stablecoins at least once. But very few are aware of the differences between these tokens. Let's get to the bottom of it.
❓ Stablecoin definition.
Stablecoin is a crypto-asset whose price is secured by classical assets, cryptocurrencies or a physical product and remains unchanged. It can be fiat currency, bitcoin, gold, securities, or another commodity that has value on the market and is recognized as legal tender.
📌 Types of Stablecoins:
1️⃣ Fiat-backed. They are pegged to fiat currencies 1:1. The issuer holds a certain amount in the reserve currency and issues a number of tokens in proportion to it. At the same time, the counterparty may not know whether the issuer has reserve funds.
2️⃣ Cryptocurrencies. These are backed by cryptocurrencies. To obtain these tokens, users lock the necessary cryptocurrency into a contract, which then issues a certain number of requested coins. Users then send stablecoins to the same contract to exchange the currency back for collateral.
3️⃣ Resource-backed. A type of stable currency whose price is tied to a valuable resource or commodity: gold, silver, or oil.
4️⃣ Algorithmic Stablecoins. They are not directly tied to fiat currencies or cryptocurrencies. Binding is provided by a smart contract, an algorithm that issues the token. If the value of the token falls below the fiat price, the algorithm system reduces the supply of the token. If the price of the token exceeds the price of fiat, new coins are issued that will lower the price of the stablecoin. An example of an algorithmic stablecoin is the BAKS stablecoin.
🥸 What happened this week?
Every day of the BaksDAO project is eventful. Sometimes it's very easy to miss news or an interesting event. Let's recap the week.
🎯 Events:
— Announced listing.
— Introduced an additional award for the review contest.
— Revealed a detailed roadmap.
— Launched a discord server.
— Learned what are the ways to invest in cryptocurrency?
— Discussed the use of cryptocurrencies in everyday life.
— Learned what stablecoin is and its types.
🌏 BaksDAO in the media:
— Live Bitcoin News. Why DeFi is the future of the financial market and how to make money from it.
BaksDAO Int |Website|EN-Channel|EN-Chat|
Every day of the BaksDAO project is eventful. Sometimes it's very easy to miss news or an interesting event. Let's recap the week.
🎯 Events:
— Announced listing.
— Introduced an additional award for the review contest.
— Revealed a detailed roadmap.
— Launched a discord server.
— Learned what are the ways to invest in cryptocurrency?
— Discussed the use of cryptocurrencies in everyday life.
— Learned what stablecoin is and its types.
🌏 BaksDAO in the media:
— Live Bitcoin News. Why DeFi is the future of the financial market and how to make money from it.
BaksDAO Int |Website|EN-Channel|EN-Chat|
🔥BAKS is listed on Coinsbit! 🔥
Dear users, BAKS is now on the centralized Coinsbit exchange.
💵 Pair:
BAKS/USDT
©️ Smart-contract:
0x8BD22C61b409587D24d87fb56e88bd84e5D91596
💰 About the BAKS token:
— It is an algorithmic stablecoin.
— The coin's liquidity is fully secured by the BaksDAO system's smart contracts.
— 1 BAKS is always equal to $1.
🔁 About Coinsbit Exchange:
— Ranked among the top largest exchanges by CoinMarketCap and CoinGecko.
— $409,699,606 average daily trading volume.
— More than 95% of all currency is stored in cold wallets.
You can trade BAKS on the BaksDAO platform and Coinsbit exchange.
BaksDAO |Website|Twitter|Facebook| Discord|Reddit|Instagram|
Dear users, BAKS is now on the centralized Coinsbit exchange.
💵 Pair:
BAKS/USDT
©️ Smart-contract:
0x8BD22C61b409587D24d87fb56e88bd84e5D91596
💰 About the BAKS token:
— It is an algorithmic stablecoin.
— The coin's liquidity is fully secured by the BaksDAO system's smart contracts.
— 1 BAKS is always equal to $1.
🔁 About Coinsbit Exchange:
— Ranked among the top largest exchanges by CoinMarketCap and CoinGecko.
— $409,699,606 average daily trading volume.
— More than 95% of all currency is stored in cold wallets.
You can trade BAKS on the BaksDAO platform and Coinsbit exchange.
BaksDAO |Website|Twitter|Facebook| Discord|Reddit|Instagram|
💻 Netflix has announced a Doc Series about asset theft from Bitfinex bitcoin exchange.
Netflix Orders Doc Series About Alleged Cryptocurrency Laundering Scheme.
💌Story:
On Feb. 8, 2022, the couple, Elijah Lichtenstein, 34, and Heather Morgan, 31, were arrested on charges of laundering 119,754 BTC stolen from Bitfinex in 2016. Authorities said they confiscated $3.6 billion in bitcoins from them. They face up to 25 years in prison.
🚫Lichtenstein and Morgan were not even released on $8 million bail, despite an order from a magistrate judge in the Southern District of New York that gave them that right.
Share in the comments your favorite TV series/movie related to finance?👇👇👇
Netflix Orders Doc Series About Alleged Cryptocurrency Laundering Scheme.
💌Story:
On Feb. 8, 2022, the couple, Elijah Lichtenstein, 34, and Heather Morgan, 31, were arrested on charges of laundering 119,754 BTC stolen from Bitfinex in 2016. Authorities said they confiscated $3.6 billion in bitcoins from them. They face up to 25 years in prison.
🚫Lichtenstein and Morgan were not even released on $8 million bail, despite an order from a magistrate judge in the Southern District of New York that gave them that right.
Share in the comments your favorite TV series/movie related to finance?👇👇👇
👋 Welcome to BaksDAO International
In this post you will find all the relevant information for working with BaksDAO platform.
BaksDAO is a DeFi platform where you can get a perpetual loan against cryptocurrencies or high yield in the currency of the asset by depositing it.
📄 White paper
⚙️ Platform testing
🏆Review competition
📝 If you have any questions write to our community chat, our administrators will be glad to help you.
For commercial proposals: @baksdao_qa
🌏 BaksDAO Int |Website|Platform|Telegram Blog|Telegram Chat|Twitter|Facebook|Reddit|Instagram|Linkedin
In this post you will find all the relevant information for working with BaksDAO platform.
BaksDAO is a DeFi platform where you can get a perpetual loan against cryptocurrencies or high yield in the currency of the asset by depositing it.
📄 White paper
⚙️ Platform testing
🏆Review competition
📝 If you have any questions write to our community chat, our administrators will be glad to help you.
For commercial proposals: @baksdao_qa
🌏 BaksDAO Int |Website|Platform|Telegram Blog|Telegram Chat|Twitter|Facebook|Reddit|Instagram|Linkedin
🔸 BNB Chain: The evolution of the Binance Smart Chain.
As of January 15, Binance Chain and Binance Smart Chain (BSC) became BNB Chain.
▪️The transition underscores BSC's connection to the BNB token and the BNB ecosystem. BNB ("Build and Build") is a blockchain gas token that "fuels" transactions in the BNB Chain.
🔸BNB Chain will span large-scale applications including GameFi, SocialFi and Metaverse. Specifically:
— Scaling from a single chain to multiple chains.
— Increasing the throughput of BSCs.
— Implementing network management mechanisms.
— Improving scalable solutions and expanding the set of BSC validators from 21 to 41.
▪️The BNB network remains a community-driven, open and decentralized ecosystem.
✅ In Q3 2022, BaksDAO also plans to enter the international market, where the project will develop in the following areas: US market (office/partners), Metaverse, NFT, gaming.👇
BaksDAO Global Roadmap
As of January 15, Binance Chain and Binance Smart Chain (BSC) became BNB Chain.
▪️The transition underscores BSC's connection to the BNB token and the BNB ecosystem. BNB ("Build and Build") is a blockchain gas token that "fuels" transactions in the BNB Chain.
🔸BNB Chain will span large-scale applications including GameFi, SocialFi and Metaverse. Specifically:
— Scaling from a single chain to multiple chains.
— Increasing the throughput of BSCs.
— Implementing network management mechanisms.
— Improving scalable solutions and expanding the set of BSC validators from 21 to 41.
▪️The BNB network remains a community-driven, open and decentralized ecosystem.
✅ In Q3 2022, BaksDAO also plans to enter the international market, where the project will develop in the following areas: US market (office/partners), Metaverse, NFT, gaming.👇
BaksDAO Global Roadmap