The Bao Finance community is focused on building the most robust, diverse, multi-chain synthetic protocol. To provide a system of liquid, secure and stable synths, we need diverse liquidity pools across multiple chains and need to properly incentivize the users that are contributing to our protocols.
Without using the franchise model BAO tokens would be spread thin, making it difficult to attract deep liquidity to each EVM chain. Instead of owning all of a small pie, the community has opted to own a share of a larger one.