Important Notice
Deposits and withdrawals are not currently available for this coin.
Bidao is a multi-chain decentralized finance (DeFi) platform and stablecoin. It is innovatively positioned as the first trustless stablecoin pegged to the U.S. dollar (USD) using the Binance Chain platform. The platform allows various cryptocurrencies to be used as collateral for BID stablecoins .
Bidao operates through its specialized blockchain called the Bidao Smart Chain (BiSC), compatible with both Ethereum Virtual Machine (EVM) and Solana Virtual Machine (SVM). It uses a Proof of Stake (PoS) consensus mechanism, making the system more energy-efficient and secure. Bidao facilitates interoperability through cross-chain technology, enabling seamless transfer of assets across different blockchain networks .
Bidao offers multiple use cases, primarily in decentralized finance (DeFi) as a stablecoin solution for lending, borrowing, and collateralized debt positions. Its cross-chain technology enhances interoperability. Further, Bidao aims to support AI ecosystems, non-fungible tokens (NFTs), and decentralized exchanges (DEXs), making it versatile in applications across financial services, AI, and digital collectibles .
Bidao was launched to provide a decentralized finance platform, introducing a two-token system consisting of the BAI stablecoin and the BID token for governance. It leverages cross-chain technology to ensure interoperability and is governed by a decentralized autonomous organization (DAO). This setup promotes scalability, transparency, and security within its ecosystem. While no major forks or updates are specifically noted, Bidao continues to evolve with a focus on expanding its technological and market presence .