Baldi.io Launches HECO-based Decentralized Synthetic Asset Protocol

Baldi.io Launches HECO-based Decentralized Synthetic Asset Protocol

[PRESS RELEASE – Please Read Disclaimer]

Baldi Network, the world’s first decentralized synthetic asset issuance and transaction protocol on Huobi’s HECO chain, today has announced its release. Developed by the world’s leading blockchain developers, cryptographers, research scientists, and experts from finance backgrounds, Baldi enables the minting of synthetic assets that “mirror” the price behavior of real-world assets by reflecting the exchange prices on-chain—providing a foundation for people around the world to have greater access to attractive financial assets without any barriers.

The Baldi protocol uses a multi-token infrastructure that implies a system of collateral, staking, inflation, and fees. Currently supporting synthetic fiat currencies, cryptocurrencies (long and short) and commodities, the protocol has two types of tokens — the main Baldi Network Token (BADI) and synthetic assets (Synths) which are created by staking the BADI tokens. This proprietary pooled collateral model allows Baldi’s users to trade synthetic assets directly without the need for direct counterparties. In addition, it helps eliminate the liquidity and slippage issues currently faced by most decentralized protocols.

Buoyed by the rising demand ahead of the platform’s launch, Valdemar Thrun, CEO of Baldi Network, is confident that broad industry adoption will follow, stating:

“As the DeFi market witnesses exponential growth with the total value of digital assets locked up in the tools and protocols standing at over 60 billion, there is a great need for the next-generation foundation that is built with better equity and efficiency in mind for users. The prospect of playing a part in helping to fundamentally form the foundation of digital finance moving forward is a huge motivator, and we believe the launch of Baldi protocol will be a major step towards realizing this goal.”

Currently, users can trade these Synths on MDEX exchange, with plans for listing on many other decentralized exchanges to be announced soon. In addition, users can also benefit from liquidity mining on the platform by pledging their synthetic assets to receive benefits in BADI’s product ecosystem. By adding the Baldi governance token—BADI—to liquidity pools, BADI holders can earn two kinds of rewards. First, they receive BADI staking rewards, which are created through the inflationary monetary policy. Secondly, there’s Synth exchange rewards, which are generated by Synth trades on exchange.baldi.io.

In addition, all Synths need to be backed by staked BADI at a Collateralization Ratio of 750%. BADI stakers need to manage their own ratio to be above this figure, which they can do by burning Synths to increase their ratio or minting Synths to reduce it. By doing this, they can collect weekly rewards.

“We are the pioneer of the debt pool gameplay on the HECO ecological network and the Complex trading platform, allowing users to trade almost any asset, and at the same time, leveraging the HECO advantages compared to Ethereum counterparts which include significant lower transaction fees and higher transaction efficiency,” notes Valdemar.

For more information about the Baldi Network, please visit http://baldi.io.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.