Bao Finance
包子金钱

Warning: Bao Finance is in alpha, and is unaudited. Please understand the risks and use this product accordingly.

Traditional finance does not work. Not for most people. It works for wealthy suits. It is great for them. They own the data. They own the marketplace. And if things do not go their way they change the rules of the game. Many people think the answer to fixing this system is simple. Just put it all on DeFi. But in reality that does not work by itself. The projects that have been successful in DeFi are the ones that do things that did not exist in old finance. Compound, Uniswap, Balancer are good examples. They all do things in a new way.
Why does this happen? It all comes to data. Most people are not aware that financial data is what makes institutions so powerful and why you can’t do what they do. This is why synthetics will matter.
But why does that matter? If you can get liquidity in any discrete quantifiable event then what have you created? The world’s most accurate financial data system.
Financial data is used within insurance, lending, hedge funds, risk mitigation, banking, yield, mortgages, credit scores, etc.
Incentivized synthetics allow you to start building an open financial data market. Once you have synthetics, you own the financial data stream that sustains the foundation of DeFi because you can incentivize liquidity to make it more accurate. With this financial data stream, you can start any DeFi business you want on top of it, or package and sell the data for others to build on. You become the foundation for the future of finance.

Bao Finance is like a combination of SNX and Aave, but it uses LP tokens for collateral.
Rather than re-invent the wheel, Bao will create new features for existing DeFi protocols.
The BAO token acts as a governance token for the fully community-run project and burned with fees for minting synthetic assets. It is also backed by the insurance fund where all Bao fees go.

Bao (包) stands for "treasure" or "package". Something wonderful that is wrapped up in another layer. Bao buns, or in Chinese Baozi (包子) are delicious wrapped dumplings.
These bao buns are the tradition of taking something good that already exists and wrapping it up into a new treasure.
Bao Finance aims to do this by being a new protocol that adds features to existing DeFi systems.
Bao Finance's goals for 2022:
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The Bao Vision of Finance
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Deliciously wrapped Finance!