Liberating Utility tokens from walled gardens


First time writing on this forum, so i apologize if i am breaking or disregarding any protocol or rules.
I view token ownership to have value across 3 axioms (network share, utility, monetary), that definition is constantly evolving as i learn more about the web3 space; that said, i see there are several walled gardens of tokens - that is tokens that are only relevant for that specific dapp, now they may have monetary value outside of the dapp as shown through a CEX or DEX, but only are utilized in the dapp or a CEX / DEX serves as an offramp to FIAT. At first review, i see that there are two immediate sectors of the DLT industry where this issue is prevalent, gaming & metaverse dapps.

I am thinking, why not we as community open up BAO Finances’ hard synth creation utility to such dapp (gaming / metaverse) tokens. That is we accept their dapp token as collateral for the creation of a hard synth either specific tto some metric specific their dapp or any other market asset.
A win through increased participation in the community, new liquidity sources into the franchise(s), entering a ‘blue ocean’ as we would be 1 of the first in accepting such industry tokens as collateral. There are some also equally obvious risks, the most prevalent being volatility.

However to mitigate such risks we could evaluate which gaming / metaverse tokens we should onboard through criteria such as token / FIAT value, TVL, # of users, audits on the dapp and etc.

just thinking out loud, this is still very much in its nascent conceptual stages, but thought i would float it.
feel free to punch holes or patch it up.


yeha metaverse/gaming tokens do seem to be under-represented a bit in DeFi right now. Not sure if there is a reason for that. Unit protocol allow you to mint USDP using AXIE, but it doesn’t seem to be a popular market.

The end goal for hard synths is to eventually have an open platform so its permissionless - meaning any token could be used


banking the bankless.
unfortunately in our hurry to build dapps w/ tokens we have forgotten to give utility to the tokens outside of the direct use in dapps.

the obvious benefit its organic growth through a partnership where we simply tweak our contract to accept the respective token collateral w/ out dilution of BAO tokens to the partnered dapp or advisory roles etc.


I genuinely think this is a concept worth great consideration in upcoming project integration/incentivization plans.

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