🔥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
👊 How do you protect your cryptocurrency?
History tells us that there is no 100% protection from the platforms, so it is important to know how to secure your funds yourself.
☠️ Let's take a look at the top 5 largest cryptocurrency thefts:
1. Africrypt: $3.6 billion 2021, 69,000 VTC stolen.
2. Lazarus Group: $600 million 2018, over $600 million stolen.
3. Mt.Gox: $390 million 2014, 850,000 VTC stolen.
4. Nicehash: $80 million. 2017, 4,700 VTS stolen.
5. Binance: $40 million. 2019, 7,000 VTS stolen.
👉 READ THE NEW ARTICLE:
— Where should I buy cryptocurrency?
— Which wallet to store cryptocurrency in?
— How can attackers steal cryptocurrency?
— Universal rules for saving cryptocurrency.
👏Tap the bottom of the article 50 times to warn other users.
History tells us that there is no 100% protection from the platforms, so it is important to know how to secure your funds yourself.
☠️ Let's take a look at the top 5 largest cryptocurrency thefts:
1. Africrypt: $3.6 billion 2021, 69,000 VTC stolen.
2. Lazarus Group: $600 million 2018, over $600 million stolen.
3. Mt.Gox: $390 million 2014, 850,000 VTC stolen.
4. Nicehash: $80 million. 2017, 4,700 VTS stolen.
5. Binance: $40 million. 2019, 7,000 VTS stolen.
👉 READ THE NEW ARTICLE:
— Where should I buy cryptocurrency?
— Which wallet to store cryptocurrency in?
— How can attackers steal cryptocurrency?
— Universal rules for saving cryptocurrency.
👏Tap the bottom of the article 50 times to warn other users.
👍2
🙌 BAKS and BDV. What's the difference?
BaksDAO has two coins - stablecoin BAKS and control token BDV (BaksDAO Voice).
🟣 Token BAKS:
- Algorithmic Stablecoin.
- The coin's liquidity is fully secured by BaksDAO smart contracts.
- 1 BAKS is always equal to 1 USDT.
BAKS issue:
Unlimited and depends only on deposits and collateral for loans blocked in smart contracts.
BAKS is the main currency of the platform. BAKS is used to perform all basic transactions in BaksDAO. The token is deposited as collateral when applying for a loan. BAKS can also 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.
💵 You can buy and exchange BAKS on BaksDAO platform and Coinsbit exchange.
🟣 Token BDV:
- BEP-20 tokens embedded in the BaksDAO protocol.
- Represents a collaborative management tool.
- Token issuance is tied to the growth of TVL (Total Value Locked) platform funds.
BDV issuance:
Initial issue: 50,000,000 tokens.
Total tokens to be issued: 2 billion tokens.
Total tokens to be burned: 1 billion tokens.
Distribution:
50% Airdrops.
35% Founders and team.
15% Early investors.
The main value of a token:
BDV holders can vote on a number of different issues - each user with these tokens is ennoscriptd to vote on platform development and changes to how the system algorithms work.
💵 You will be able to buy BDV at IDO in April 2022. The opportunity to exchange will appear after listing on DEX in the 2nd quarter of 2022.
For now, you can get BDV token by participating in competition.
✅ Read more about BDV and BAKS in the White Paper.
BaksDAO has two coins - stablecoin BAKS and control token BDV (BaksDAO Voice).
🟣 Token BAKS:
- Algorithmic Stablecoin.
- The coin's liquidity is fully secured by BaksDAO smart contracts.
- 1 BAKS is always equal to 1 USDT.
BAKS issue:
Unlimited and depends only on deposits and collateral for loans blocked in smart contracts.
BAKS is the main currency of the platform. BAKS is used to perform all basic transactions in BaksDAO. The token is deposited as collateral when applying for a loan. BAKS can also 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.
💵 You can buy and exchange BAKS on BaksDAO platform and Coinsbit exchange.
🟣 Token BDV:
- BEP-20 tokens embedded in the BaksDAO protocol.
- Represents a collaborative management tool.
- Token issuance is tied to the growth of TVL (Total Value Locked) platform funds.
BDV issuance:
Initial issue: 50,000,000 tokens.
Total tokens to be issued: 2 billion tokens.
Total tokens to be burned: 1 billion tokens.
Distribution:
50% Airdrops.
35% Founders and team.
15% Early investors.
The main value of a token:
BDV holders can vote on a number of different issues - each user with these tokens is ennoscriptd to vote on platform development and changes to how the system algorithms work.
💵 You will be able to buy BDV at IDO in April 2022. The opportunity to exchange will appear after listing on DEX in the 2nd quarter of 2022.
For now, you can get BDV token by participating in competition.
✅ Read more about BDV and BAKS in the White Paper.
🔥BAKS on CoinGecko! 🔥
CoinGecko is the world's largest independent aggregator of cryptocurrency data. The company tracks over 6,000 assets and about 400 exchanges.
👀 At CoinGecko information about a token:
— Token statistics (price, capitalization and more).
— Trading pairs.
— Exchanges and exchanges where you can buy or exchange token.
🤑 BAKS token:
— Algorithmic Stablecoin.
— The coin's liquidity is fully provided by BaksDAO smart contracts.
—1 BAKS is always equal to 1 USDT.
💵 You can buy and exchange BAKS on BaksDAO platform and Coinsbit exchange.
CoinGecko is the world's largest independent aggregator of cryptocurrency data. The company tracks over 6,000 assets and about 400 exchanges.
👀 At CoinGecko information about a token:
— Token statistics (price, capitalization and more).
— Trading pairs.
— Exchanges and exchanges where you can buy or exchange token.
🤑 BAKS token:
— Algorithmic Stablecoin.
— The coin's liquidity is fully provided by BaksDAO smart contracts.
—1 BAKS is always equal to 1 USDT.
💵 You can buy and exchange BAKS on BaksDAO platform and Coinsbit exchange.
🥸 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:
— BAKS to be Listed on Coinsbit.
— BAKS to be Listed on CoinGecko.
— Evolution of the Binance smart chain.
— Valentine's Day greetings.
— Announcement of a series about cryptocurrency theft by Netflix.
🧠 Useful Material:
— How to protect your cryptocurrency?
— What is the difference between BDV and BAKS tokens?
🌏 BaksDAO in the media:
— Cryptonews. "New Stablecoin BAKS to be Listed on Coinsbit."
— Coinspeaker. "New Stablecoin BAKS to be Listed on Coinsbit".
🟣 BaksDAO Int |Website|Platform|Telegram Blog|Telegram Chat|Twitter|Facebook|Reddit|Instagram|Linkedin|Discord|
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:
— BAKS to be Listed on Coinsbit.
— BAKS to be Listed on CoinGecko.
— Evolution of the Binance smart chain.
— Valentine's Day greetings.
— Announcement of a series about cryptocurrency theft by Netflix.
🧠 Useful Material:
— How to protect your cryptocurrency?
— What is the difference between BDV and BAKS tokens?
🌏 BaksDAO in the media:
— Cryptonews. "New Stablecoin BAKS to be Listed on Coinsbit."
— Coinspeaker. "New Stablecoin BAKS to be Listed on Coinsbit".
🟣 BaksDAO Int |Website|Platform|Telegram Blog|Telegram Chat|Twitter|Facebook|Reddit|Instagram|Linkedin|Discord|
😎 How to get passive income from cryptocurrencies without risks?
Every crypto investor knows that you can trade cryptocurrency on the exchange and get income from it. But not everyone is ready to risk their funds, especially during a downtrend.
✅ Method 1: Buy stablecoin and deposit it with interest.
1) Choose the stablecoin that suits you and the income percentage: USDT (10% APR ) or BAKS (15% APY).
2) Fill your wallet with the appropriate stablecoin or exchange directly on the platform.
3) Make a deposit with interest.
4) Get income in the form of 15% per annum.
This way your funds will not lose value due to inflation, will not decrease in value due to price hikes and will be increased by 15% per annum.
Investing 5,000 BAKS today and in a year you will have $5,750 without any effort.
✅ Method 2. Deposit Stablecoin at interest and use compound interest.
If the above percentages don't seem big enough for you, you can use the magic of compound interest.
Compound interest is when you contribute the income from a deposit to the same deposit, thereby increasing the volume of the deposit and therefore the profit. Interest on the new deposit will accrue not only on the original amount, but also on the interest you received from the first. From this superposition and appeared the name "compound interest".
If you deposit 5,000 BAKS today and once a month for a year pay the resulting profit (≈62.5 BAKS), then after a year you will get $6,515, not $5,750. That sounds like a plan, right?
Doing it is still easy:
1) Do method 1.
2) Take your profits once a month.
3) Deposit the profits you make.
4) Get more income.
Why is it profitable to make deposits with BaksDAO?
— It takes a couple of minutes.
— BNB Chain saves you money on commissions.
— 15% APR for deposits at BAKS.
— You can take profits every minute.
— You can withdraw your deposit at any time. No blocking.
— Since the price of stablecoin has almost no price fluctuations, you reduce the risk of loss to a minimum.
💵 Purchase or exchange BAKS.
💵 Make a deposit with interest.
Every crypto investor knows that you can trade cryptocurrency on the exchange and get income from it. But not everyone is ready to risk their funds, especially during a downtrend.
✅ Method 1: Buy stablecoin and deposit it with interest.
1) Choose the stablecoin that suits you and the income percentage: USDT (10% APR ) or BAKS (15% APY).
2) Fill your wallet with the appropriate stablecoin or exchange directly on the platform.
3) Make a deposit with interest.
4) Get income in the form of 15% per annum.
This way your funds will not lose value due to inflation, will not decrease in value due to price hikes and will be increased by 15% per annum.
Investing 5,000 BAKS today and in a year you will have $5,750 without any effort.
✅ Method 2. Deposit Stablecoin at interest and use compound interest.
If the above percentages don't seem big enough for you, you can use the magic of compound interest.
Compound interest is when you contribute the income from a deposit to the same deposit, thereby increasing the volume of the deposit and therefore the profit. Interest on the new deposit will accrue not only on the original amount, but also on the interest you received from the first. From this superposition and appeared the name "compound interest".
If you deposit 5,000 BAKS today and once a month for a year pay the resulting profit (≈62.5 BAKS), then after a year you will get $6,515, not $5,750. That sounds like a plan, right?
Doing it is still easy:
1) Do method 1.
2) Take your profits once a month.
3) Deposit the profits you make.
4) Get more income.
Why is it profitable to make deposits with BaksDAO?
— It takes a couple of minutes.
— BNB Chain saves you money on commissions.
— 15% APR for deposits at BAKS.
— You can take profits every minute.
— You can withdraw your deposit at any time. No blocking.
— Since the price of stablecoin has almost no price fluctuations, you reduce the risk of loss to a minimum.
💵 Purchase or exchange BAKS.
💵 Make a deposit with interest.
😨 Is it more profitable to buy cryptocurrency over the long term than to actively trade?
90% of crypto investors are frightened by strong price drop, downtrend, they want to sell everything and never worry again. But are the downtrend and "high risks" really that scary?
❌ If we consider the value of a cryptocurrency within a day, a week or even a quarter, this asset can really seem high risk. But that would only be true for those who are trying to make a profit as quickly as possible without looking at the fundamentals of the assets.
Many people believe that real estate is a good investment because its value is always going up. Have you ever wondered in what currency?
✅ In cryptocurrency, real estate is getting cheaper every year. Here is an infographic that clearly shows the dynamics of real estate value against the dollar and cryptocurrencies.
Earn|Exchange|Borrow
90% of crypto investors are frightened by strong price drop, downtrend, they want to sell everything and never worry again. But are the downtrend and "high risks" really that scary?
❌ If we consider the value of a cryptocurrency within a day, a week or even a quarter, this asset can really seem high risk. But that would only be true for those who are trying to make a profit as quickly as possible without looking at the fundamentals of the assets.
Many people believe that real estate is a good investment because its value is always going up. Have you ever wondered in what currency?
✅ In cryptocurrency, real estate is getting cheaper every year. Here is an infographic that clearly shows the dynamics of real estate value against the dollar and cryptocurrencies.
Earn|Exchange|Borrow
😶 How to protect your funds in difficult economic times?
Today clearly showed how stock markets can collapse in an instant, currencies become unreliable, and the fear of "lose money" leads to panic. Is cryptocurrency really the high-risk one?
❌ Unfortunately, the standard financial system looks extremely outdated, inconvenient and unprofitable for the average person. Such a system has a number of disadvantages, but one of the most important: your money does not belong to you.
Does the money really belong to you?
In the world of digitalization, everyone is used to keeping money in banks and paying for purchases by card, but how often do people think about the security of their assets? All it takes is one decree "from above" and you can't take your money out of the bank because there is not enough cash, you can't sell your shares because the stock exchanges have stopped trading, and you can't exchange currency.
✅ The world of cryptocurrencies and Defi, on the other hand, fully preserves your right to full ownership of your funds, at any time you can:
- Exchange your funds for any cryptocurrencies and tokens.
- Deposit or withdraw a deposit.
- Fully dispose of your funds.
- Don't worry about having your funds blocked.
If you have full control over your funds, you won't have any reason to panic under any circumstances. The only thing that can cause panic is unstable rate of cryptocurrencies, but there is a solution for this kind of issue too. It is enough to exchange a high-risk asset for stablecoin, such as BAKS, the exchange rate of which is always equal to $1.
✅ BaksDAO also follows all the principles described above. At any moment users of the BaksDAO.finance platform can:
- Make a deposit/withdrawal of interest.
- Make an exchange.
- Take out and repay a loan secured by cryptocurrency.
❓Why do the funds you deposited on the BaksDAO.finance platform always belong to you?
BaksDAO does not use your deposited funds (loan, earn), unlike the banks we are used to. Your funds are on a smart contract, they are not involved in trading or other operations. The smart contract interacts only with your wallet from which the funds were deposited and only your wallet can withdraw funds from the smart deposit contract.
This is how DeFi solves the problem of privatization of funds. Use decentralized platforms and be sure that your funds belong to you.
💰 Deposit in BAKS (15% APY)|Deposit in USDT (10% APR)
Today clearly showed how stock markets can collapse in an instant, currencies become unreliable, and the fear of "lose money" leads to panic. Is cryptocurrency really the high-risk one?
❌ Unfortunately, the standard financial system looks extremely outdated, inconvenient and unprofitable for the average person. Such a system has a number of disadvantages, but one of the most important: your money does not belong to you.
Does the money really belong to you?
In the world of digitalization, everyone is used to keeping money in banks and paying for purchases by card, but how often do people think about the security of their assets? All it takes is one decree "from above" and you can't take your money out of the bank because there is not enough cash, you can't sell your shares because the stock exchanges have stopped trading, and you can't exchange currency.
✅ The world of cryptocurrencies and Defi, on the other hand, fully preserves your right to full ownership of your funds, at any time you can:
- Exchange your funds for any cryptocurrencies and tokens.
- Deposit or withdraw a deposit.
- Fully dispose of your funds.
- Don't worry about having your funds blocked.
If you have full control over your funds, you won't have any reason to panic under any circumstances. The only thing that can cause panic is unstable rate of cryptocurrencies, but there is a solution for this kind of issue too. It is enough to exchange a high-risk asset for stablecoin, such as BAKS, the exchange rate of which is always equal to $1.
✅ BaksDAO also follows all the principles described above. At any moment users of the BaksDAO.finance platform can:
- Make a deposit/withdrawal of interest.
- Make an exchange.
- Take out and repay a loan secured by cryptocurrency.
❓Why do the funds you deposited on the BaksDAO.finance platform always belong to you?
BaksDAO does not use your deposited funds (loan, earn), unlike the banks we are used to. Your funds are on a smart contract, they are not involved in trading or other operations. The smart contract interacts only with your wallet from which the funds were deposited and only your wallet can withdraw funds from the smart deposit contract.
This is how DeFi solves the problem of privatization of funds. Use decentralized platforms and be sure that your funds belong to you.
💰 Deposit in BAKS (15% APY)|Deposit in USDT (10% APR)
👍1
☠️ Potentially dangerous stablecoins.☠️
Because of the downtrend in cryptocurrencies and the challenging global environment, people are increasingly thinking about which assets are really safe and which cryptocurrencies are potentially dangerous. Which stablecoins should not be used and why?
There are a total of 2 types of stablecoins by type of management: centralized and decentralized.
1️⃣ Centralized Stablecoins.
Concept: in theory, companies that maintain centralized stablecoins hold a reserve of the underlying asset, issue a corresponding number of blockchain-based tokens, and fully manage the viability of the tokens.
Example: USDT, USDC, BUSD, TUSD.
🚫 Disadvantages:
— In practice, there is no dedicated authority to regulate the number of tokens we issue (unregulated printing press).
— Risk of manipulating their reserves and audits to issue unsecured tokens.
— The risk of your funds being cancelled or blocked by the issuer (the company issuing the tokens).
— You do not actually own your funds.
The obvious disadvantages of centralized stablecoins prompted developers and entrepreneurs to create decentralized stablecoin systems.
2️⃣ Decentralized stablecoins.
Concept: by using algorithms to regulate the price, a stable crypto-asset is created without the involvement of fiat currencies and the need for a connection to the traditional financial system, but at the same time the rate of stablecoin corresponds to the stated rate.
Example: BAKS, DAI, sUSD, USDn.
BAKS is an algorithmic stablecoin. The BaksDAO platform allows issuing BAKS stablecoin only when the user deposits collateral or a deposit on a smart contract. BAKS cannot be "printed" or issued in any other way. At the same time, 1 BAKS is always equal to the value of 1 USD.
✅ Pros of decentralized stablecoins:
— Stable crypto-assets without the involvement of fiat currencies and the need for a link to the traditional financial system.
— Decentralization.
— Not subject to a single issuer and regulators.
In short, your funds cannot be controlled by any authorities, and accordingly, you don't have to worry about blocking, canceling your funds because they are under your control. Use decentralized Stablecoins and be confident about tomorrow!
💵 Purchase or exchange BAKS.
💵 Make a deposit to BAKS with interest (15% APY).
Because of the downtrend in cryptocurrencies and the challenging global environment, people are increasingly thinking about which assets are really safe and which cryptocurrencies are potentially dangerous. Which stablecoins should not be used and why?
There are a total of 2 types of stablecoins by type of management: centralized and decentralized.
1️⃣ Centralized Stablecoins.
Concept: in theory, companies that maintain centralized stablecoins hold a reserve of the underlying asset, issue a corresponding number of blockchain-based tokens, and fully manage the viability of the tokens.
Example: USDT, USDC, BUSD, TUSD.
🚫 Disadvantages:
— In practice, there is no dedicated authority to regulate the number of tokens we issue (unregulated printing press).
— Risk of manipulating their reserves and audits to issue unsecured tokens.
— The risk of your funds being cancelled or blocked by the issuer (the company issuing the tokens).
— You do not actually own your funds.
The obvious disadvantages of centralized stablecoins prompted developers and entrepreneurs to create decentralized stablecoin systems.
2️⃣ Decentralized stablecoins.
Concept: by using algorithms to regulate the price, a stable crypto-asset is created without the involvement of fiat currencies and the need for a connection to the traditional financial system, but at the same time the rate of stablecoin corresponds to the stated rate.
Example: BAKS, DAI, sUSD, USDn.
BAKS is an algorithmic stablecoin. The BaksDAO platform allows issuing BAKS stablecoin only when the user deposits collateral or a deposit on a smart contract. BAKS cannot be "printed" or issued in any other way. At the same time, 1 BAKS is always equal to the value of 1 USD.
✅ Pros of decentralized stablecoins:
— Stable crypto-assets without the involvement of fiat currencies and the need for a link to the traditional financial system.
— Decentralization.
— Not subject to a single issuer and regulators.
In short, your funds cannot be controlled by any authorities, and accordingly, you don't have to worry about blocking, canceling your funds because they are under your control. Use decentralized Stablecoins and be confident about tomorrow!
💵 Purchase or exchange BAKS.
💵 Make a deposit to BAKS with interest (15% APY).
👍1