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.
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, and Balancer are good examples. They all do things in a new way.
Why does this happen? It all comes to data. Most people are unaware that financial data makes institutions so powerful and that 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.
Economic 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.
Market incentivized information. Accurate, consumable data streams in the form of synthetics to move the power of information from institutions to individuals.
Build a platform for creating synthetic assets and markets that represent any data in the world. Synthetics will be backed by liquidity to ensure their accuracy.
We believe in…
- Because institutions shouldn't have power over people.
- To achieve this, Bao will build platforms that make it easy for anyone to create and use synthetic assets.
- At Bao, our community drives the project. Together we shape the future of BAO.
- Because people want to make decisions based on information that is meaningful to them.
- To achieve this, Bao enables any person to use synths so that ideas, knowledge, and decisions are decentralized and trustless.
- At Bao every community member understands the Bao ecosystem, Bao's vision, and roadmap, and participates in governance by writing or commenting on proposals and voting on them.
- Because consumable data crowdsourced worldwide is more reliable and robust than data from a single source.
- To achieve this, Bao makes security a priority in development so users can trust the protocol that governs data on the platform.
- At Bao, we protect the community from bad actors and look out for each other.
- Because accuracy enables better decision-making and inspires creativity.
- To achieve this, everyone will vet data streams with the help of decentralized oracles.
- At Bao, we try to understand others and make our ideas clear and actionable.
- Because each person's contribution is unique and essential.
- Bao achieves this by enabling synth solutions that don't yet exist for uses that haven't been imagined.
- At Bao, we celebrate and encourage creative contributions (artwork, videos, new perspectives, and unanticipated contributions).