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.
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.
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.