BaksDAO (BAKS)

“BaksDAO is a decentralized finance (DeFi) service that allows you to manage your cryptocurrencies, reinvest them, and earn extra income from investing in digital assets. All transactions are done on the Baksdao.finance platform, where cryptocurrency lending, liquidity delivery on deposit, and exchange services are now available.

Principles of the project

The work of BaksDAO is initially based on 5 key principles:

1. Economic feasibility.

BaksDAO’s activities should be aimed at maximizing profits, with only legitimate and ethical practices possible.

2. Sustainable development. 

The project is aimed at long-term development, constant updates, and additions to the service, which is reflected in the roadmap. Together with the ecosystem of all cryptocurrencies, the service will integrate joint products into its services, including NFT, GameFi, and Metaverse.

3. Decentralization.

BaksDAO will move to full decentralization soon after launch and become a full-fledged DAO platform. It is managed through voting tokens BDV (BDV). Token holders have equal rights and opportunities to vote on key decisions of the service.

4. Accessibility of finances. 

Activities should be aimed at attracting users and accessibility of decentralized finance for all segments of the population, regardless of geography, territorial affiliation, and experience with cryptocurrencies.

5. security and assurance. 

All funds of users placed on the platform should be protected from external and internal influences and manipulation. Verified and audited smart contracts, open blockchain, and the community serve as a guarantee of security. 

Tokens

The BaksDAO platform has two tokens: the BAKS stablecoin and the BDV management token.

BAKS is an algorithmic stablecoin. All lifecycles are tied to smart contracts and maintained automatically. The exchange rate of the token is always $1. The issue is not limited and is tied to the volume of placed cryptocurrencies on the platform.

BDV is a management token, the issue of which is limited. Each token is equal to 1 vote at the time of community voting. All BDV holders have the right to submit algorithms to change the operation of the Baksdao.Finance platform, vote on proposals and changes to the ecosystem economy.

Both tokens are implemented on the BSC protocol. Ethereum networks and Layer 2 solutions will be added in late 2022.

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