baoUSD (BAOUSD)

Bao Finance aims to be a new protocol that adds features to existing DeFi systems. The name “Bao” (treasure or package in Chinese) represents the concept of taking something good that already exists and wrapping it up into a new treasure. Bao Finance is building a crosschain DeFi ecosystem, with applications deployed on various networks, including xDai, Binance Smart Chain, and Polygon. They are creating multinetwork applications to provide services to DeFi users regardless of their preferred chains.

Bao Finance’s main offering is baoUSD, a multi-collateralized stablecoin minted on Bao Markets. Synthetic assets are a focus for Bao Finance, as they enable the creation of financial instruments and markets that have never been seen before. Bao Finance aims to create the world’s most accurate financial data system by leveraging liquidity in discrete, quantifiable events. With this data, users can build open financial data markets, start any DeFi business, or package and sell the data to others for building purposes.

In 2022, Bao Finance has several goals, including deploying Bao Markets and introducing hard synthetics. They also plan to introduce Bao Baskets, allowing users to use them as collateral for baoUSD and other synthetics. Additionally, Bao Finance aims to improve governance through on-chain governance using the Governance Bravo system. They also plan to develop new strategies and integrations for Bao Baskets, improve hard synthetics with new options and more collateral types, and expand their franchise to the Polygon network.