This came across on Gate.io. This is a hidden gem. When I looked at the project, it sounded awesome. This is a long time hodl project. It can give x10 or maybe more.
Fundamentals:
*What is BAO: Check their page: docs.bao.finance In their page it says "Right now existing protocols for synthetics (like Synthetix and UMA) require you to put your assets into a base token in order to collateralise the creation of your synthetic asset, taking on risk and losing your exposure to the underlying assets of your choice. Instead of this, we are allowing users to use their LP tokens to create synthetic assets, so they will still have their exposure to the underlying assets and the LP fees from that trade pair.
The fees are ridiculously low. The BAO Protocol takes the following fees on deposit: 0.75% deposit fee. The standard withdrawal fees range from: 0.1% - 0.5%
TA: We are seeing a huge falling wedge. It nearly retraced to 0.618 fib. Once we break the wedge, we can hit T1, T2. Once binance discovers this, it can reach the final target. It is currently migrating to xDAI.
Fundamentals:
*What is BAO: Check their page: docs.bao.finance In their page it says "Right now existing protocols for synthetics (like Synthetix and UMA) require you to put your assets into a base token in order to collateralise the creation of your synthetic asset, taking on risk and losing your exposure to the underlying assets of your choice. Instead of this, we are allowing users to use their LP tokens to create synthetic assets, so they will still have their exposure to the underlying assets and the LP fees from that trade pair.
The fees are ridiculously low. The BAO Protocol takes the following fees on deposit: 0.75% deposit fee. The standard withdrawal fees range from: 0.1% - 0.5%
TA: We are seeing a huge falling wedge. It nearly retraced to 0.618 fib. Once we break the wedge, we can hit T1, T2. Once binance discovers this, it can reach the final target. It is currently migrating to xDAI.
