Synth assets - or just lending?

From the video presented at 1st anniversary party: Bao Finance Hard Synth Reveal - YouTube

My feeling that lending and borrowing is dominated by other major players like Aave.

I think the synth functionality and exposure to traditional stocks, like Mirror.

I just had a look and Synthetix - Synths offers only crypto products… Maybe there is a market opportunity here?

1 Like

My point reiterated - finding market niche.

Exposure to TradFi assets using crypto.

Lending and borrowing - already established players in the space.

I like Mirror on Terra blockchain, I have my “kind of stable” part of portfolio there

I’m just being realistic - as an user I would probably use Aave / MIM due to their longevity and market cap. Higher market cap - higher bug bounty for hackers, see also: Lindy effect - Wikipedia

FINDING USP, finding a niche…

Hi Mars.

Have you had the time to read the latest community medium? Especially the hard synths and market section.

Besides there was a similar question in discord.

Can someone help me understand how Bao USD is beginning of synths? IE, what is next step of this? Why wouldnt i just use maker?

And follow Chickn his response here.

Bao USD is just the mininal viable product and the starting point, if anything is unclear please let us know.

Also keep in mind the docs have always stated the following.


Bao Finance is like a combination of SNX and Aave, but use LP tokens for collateral.
Rather than re-invent the wheel, Bao will create new features for existing DeFi protocols.

Finishing with the comment regarding the unique selling point it’s not up to the team alone. We definitely have our own ideas, which will be disclosed here and our other channels. But your input (community) is also very important we are building the protocol together.

Not yet… Will check it out 🙏

Check these dudes on AVAX:

Minting stable coin, using LP as collateral.

I love the idea of synths and having exposure to real-world assets.

Happy to contribute more time / energy / effort, more than than just shitposting on the forum (talk is cheap)

Maybe some code is copy-paste: Contract Addresses - Defrost Finance

I was also thinking “acquihire” and merge with one of the existing products in the space.

Community is here. Intellectual capital is here. Joining forces with someone who is developing something aligned - possible and acceptable in my book.

(but probably too controversial so I’m not expecting a popular support)

Revisiting this thread and agree that synthetic of crypto products might not be as exciting as traditional assets like mirror protocol, or the recent project on Avalanche called Baklava, their TVB have grown to > $2m even before synth is launched. Theirs is exactly like ours but focused on real world market synths.

I do agree that for an “early phase” project bao community is super active, more than some top 200 marketcap projects and many members and moderator here is top notch, seriously. I feel this is something that we should take advantage of.

@mars acquirehire is such a complicated thing, like relationships. While we want to merge and make bao the center, they might not agree unless their incentive is heavily aligned.

Personally I don’t see what benefits we could have merging with Baklava.

Not merging with Baklava, I am commenting about the acquire-hire ideas.

And also the idea to create synth for traditional money market, which Baklava is doing.

It just happen to be in the same post, so it could be confusing.

Oh haha my bad for the misunderstanding, I dont think traditional finance synths is out of the question.

1 Like

If there is a team that does similar offering, then potentially code is reusable,using a proper licence.

About merging, there were some similar initiatives:

I’m sorry that I did not read the initial roadmap - I’ve expressed my disappointment with limited functionality.

Now I understand that some delays and limited functionality are on purpose

There are no incentives for minting Bao USD, maximum collateral ratios are low and there are no real use cases for it yet. Anyone minting Bao USD right now should also expect it to be volatile - the curve pool is currently illiquid and is expected to remain that way until a farm for it is introduced.

Don’t worry though, it wont always be like that. We have big plans.

Source: Discord

Looking forward to Bao USD.

Do you know it will be asset-backed, I am guessing so but there are many varieties to do stablecoin.