Baccarat, Defi’s rising star!
As we all know, when the development of the industry gradually matures and the ecological development of various conceptual sectors gradually enriches, “integrated masters” will appear one after another. Just like every function and every application in the Internet era was an app at first, in the end you will find that only a few apps are integrated, and there is no need to download so many apps.
The same goes to the cryptocurrency market this year. The most lively concepts this year are undoubtedly the concepts of DeFi, DEX, liquidity mining, DAO, synthetic assets, cross-chain and so on. Then these concepts which have developed to such a relatively mature level, should there be an “integrated master”?
Today, an “integrated master” will be introduce to you, the DeFi decentralized financial transaction system Baccarat launched by NGK.IO.
First, let look at the overview of the project:
1. Baccarat is a non-custodial, cross-chain compatible decentralized asset protocol.
2. Baccarat’s long-term DeFi vision is to increase the inclusiveness of investment assets and allow the public to obtain investment opportunities in such assets.
3. Baccarat enables users to establish and manage spot or portfolio risk exposures through a series of innovative digital and traditional financial products.
4. Baccarat is a non-custodial cross-chain compatible DeFi protocol with unlimited liquidity, which is used to create synthetic assets with zero slippage.
5. The backbone of the Baccarat agreement is the mortgage debt pool, which is supported by BGV coins and other digital and physical assets that will be added later.
6. A total of 60,000 BGV coins are issued, and there will be a liquidity mining plan to encourage the use of trading platforms and the stability of the debt pool.
7. As Baccarat’s token, BGV is both a collateral and governance coin. It has strong value capture capabilities and will also be used to govern the Baccarat protocol.
According to the official introduction, Baccarat is the first DEFI application launched based on its own blockchain. Baccarat is a cross-chain compatible decentralized asset protocol that can create, trade and manage synthetic assets. Compared with other asset agreements, Baccarat is faster, more cost-effective, safer, and easier to use, while providing a rich window of innovative investment assets.
Previously, several similar projects such as Synthetix have chosen to be developed on Ethereum, which is naturally understandable. However, compared to the ultimate pursuit of “no slippage, low latency, and low handling fees” required by synthetic assets, Baccarat is obviously more advantageous.
In order to adapt to the development of the future ecology, the decentralized transaction protocol Baccarat chose to increase cross-chain compatibility on the basis of DeFi at the beginning of its creation. This allows Baccarat to provide a complete solution for users to solve the problems of expansion and extremely high transaction costs.