Bidao is implementing Tron (TRX) as Collateral Asset
What is Bidao
Bidao is building a new blockchain system that is dedicated to Decentralized Finance, short DeFi. Our goal is to create a blockchain-agnostic ecosystem for Defi applications. The Bidao ecosystem uses 2 different Tokens: the governance Token BID and the stablecoin BAI. Users can also stake their BID tokens and support the Bidao network. The stablecoin BAI is an algorithmic stablecoin that is pegged 1:1 to the US-Dollar.
Bidao + Tron = ❤
Bidao is implementing TRX as a collateral asset. This means that TRX can be locked up in CDPs to generate the BAI stablecoin.
Using TRX as collateral is very easy. At first, the TRX is locked up in the CDP. In return, the appropriate amount of BAI is generated and can be used freely by the CDP creator. To regain access to the locked TRX, the BAI has to be repaid to the system. This is simply done by a simple function call and sending back the BAI to the CDP. After that, the TRX are unlocked and can be transferred freely again by the CDP creator.
The Bidao Cryptocurrency (BID) utilizes a completely decentralized proof-of-stake Blockchain with an additional collateral-backed value token which is 100% stable in value quite in contrast to for example Bitcoin, Binance Coin or Ethereum which experience huge fluctuation.
Bidao is integrating with many different Blockchains like Tron, Bitcoin and Ethereum. This way Bidao becomes the one-stop-shop for Decentralized Finance (Defi) applications.
TRON is a Blockchain based operating system and a decentralized application platform (dapp). Founded by a Singapore-based charitable foundation, the Tron Foundation, the project team initially wanted to tackle the global entertainment industry, which is currently worth $1 trillion. TRON's open, decentralized platform and distributed storage technology enables digital content developers to eliminate middlemen such as the Apple Store and Google Play Store.
This allows content producers to receive funds directly from consumers.
Currently, much user data and traffic is controlled by a few companies such as Google, Facebook and Amazon. TRON is trying to mitigate this control by putting the ownership of the data back into the hands of the creators.