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Price
$0.000114
9/29/2022, 7:59:30 AM
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Market

Market stats

Market cap

$3.9M

Volume (24h)

$45,962.25

Circulating supply

34.1B BAO

All time high

$0.000280

Price change (1h)

-0.15%

Price change (24h)

+0.96%

Price change (7d)

+0.4%

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Bao Finance is on the rise this week.

The price of Bao Finance has risen by 0.40% in the past 7 days. The price increased by 0.96% in the last 24 hours. In just the past hour, the price shrunk by 0.15%. The current price is $0.000114 per BAO. Bao Finance is 59.47% below the all time high of $0.00028.

The current circulating supply is 34,066,471,176 BAO.

About

What Is Bao Finance (BAO)?

Bao Financeis an open-source community-driven project that functions on L2 (layer 2) DeFi. Bao creates a multi-network suite of applications that provide services to DeFi users regardless of their preferred chains.The project has launched a franchise model of Bao Farms, BaoSwap, and Bao Synths deployed to multiple chains like xDaiBinance Smart Chain, and Polygon. xDai is an Ethereum based side-chain for fast, stable, and inexpensive transactions. 

Users can create synthetic assets within BAO Finance using their LP tokens from other protocols. Synthetic assets are tokenized derivatives (an asset whose value is driven from the underlying asset or index) that mimic the value of another asset. LP tokens are the tokens that are issued to liquidity providers on a decentralized exchange (DEX) that runs on an automated market maker (AMM) protocol. They can then generate synthetic assets up to their collateral limit by burning a small fee in Bao tokens. Synthetic assets are systems that allow users to create 24/7 financial markets related to any value.

However, existing synthetic asset solutions have significant gaps. Systems like Synthetix require the collateral's bulk to be managed in their network token, making those assets idle (not used for other purposes). Further, the system overly centralizes risk to a single asset infrastructure that creates double-risk exposure. Bao Finance solves these issues by using existing assets from other protocols as collateral so that assets are optimized and not remain idle. By this, users don't need to decide between protocols. Further, there is a triple benefit as users get staking fees, asset exposure, and liquidity pool fees. Moreover, the BAO tokens are backed by a treasury insurance fund that contains more than 200 assets, minimizing the risk of single asset failure.

Other benefits of BAO Finance are:

  • BAO builds on top of other protocols, therefore users can boost their earnings and make diverse partnerships.

  • BAO ensure accurate pricing and do not force liquidations.

  • BAO has dedicated community funds, liquidity provider funds and developer funds to ensure community grants, rewards and upside can be shared with users who contribute beyond just code. BAO is a native token of Bao Finance that serves a utility function to earn fees or yield rewards to the users by yield farming or staking their LP tokens as collateral. BAO also acts as a governance token to vote in governance polls for various proposals.

BAO is run by Decentralized Autonomous Organisation (DAO). There are different galaxies like community galaxy, front-end galaxy, quality assurance galaxy, smart contract galaxy, etc., that may be temporary or permanent under the DAO structure of Bao Finance. A galaxy is a team of people serving the community with a common goal. Any change to the galaxy can be put forward by the proposal process through a governance vote. Then there are different roles assigned to guardians, the council of guardians, and contributors under the galaxy. Guardians and council of guardians are the senior members of a galaxy responsible for making sure that all galaxies coordinate their efforts according to the assigned goals. The council of guardians is composed of at least one member of each permanent galaxy. Contributors are members of a galaxy who are able to add value on a consistent basis. They will be given guidance from guardians wherever needed.

History of Bao Finance (BAO)

The project had a total supply of one trillion BAO tokens.

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FAQ

What is the current price of Bao Finance?

The price of 1 Bao Finance currently costs $0.000114.

What is the market cap of Bao Finance?

The current market cap of Bao Finance is $3.87M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Bao Finance?

The all-time high of Bao Finance is $0.000280. This all-time high is highest price paid for Bao Finance since it was launched.

What is the 24 hour trading volume of Bao Finance?

Over the last 24 hours, the trading volume of Bao Finance is $45.96K.

What other assets are similar to Bao Finance?

Assets that have a similar market cap to Bao Finance include bitCNY, Zigcoin, Govi, and many others. To see a full list, see our comparable market cap assets.

How many Bao Finance are there?

The current circulating supply of Bao Finance is 34 billion.

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