With the introduction of IOST on Bidao, the platform has improved its basket of collateral assets. IOST has been building on new partnerships to increase its outreach to more DeFi platforms. Keen on achieving its promises, the IOST group has fulfilled its obligations despite the Coronavirus pandemic.
IOST + Bidao = ❤️$IOST is now a collateral asset on @Bidaochain‘s #DeFi ecosystem🗣
This allows $IOST to be locked up in CDPs to generate $BAI #stablecoin.👏Read more👉: https://t.co/tqEKbSOVfi pic.twitter.com/lNKq5TF0wA
— Bidao® (@Bidaochain) July 31, 2020
The addition of IOST on Bidao has added a new value asset to the DeFi as a whole. Now, IOST-based collateralized debt positions can be built and users can then create the BAI stablecoin for further financial operations. The development also boosts liquidity on the platform.
IOST on Bidao marks an important milestone for IOST team
The booming DeFi is attracting players from many spheres. The value locked in DeFi is increasing by the day, and newer players like IOST are sure going to benefit from this rise. The recent collaboration with ProDeFi is another example where IOST is leading the race.
The launch of IOST on Bidao Blockchain also reflects the growing optimism in the DeFi realm. The Bidao-IOST collaboration comes after the firm announced to expand its partnerships with three DeFi platforms this year. Besides onboarding with DeFi platforms, the IOST team is also enhancing the on-chain governance of the blockchain.
Terrence Wang, the co-founder of IOST, says that the partnership will usher mutual benefits for both the participants and help in the expansion of knowledge, technical support, and development in the community. IOST on Bidao works very much like other DeFi assets.
Booming DeFi attracting startups like never before
The value of ETH locked in DeFi apps has touched $4 billion. IOST wants to capitalize on the rising DeFi market with a restructured roadmap. The team is entirely focused on exploring more DeFi partnerships in the coming months. They are keen to collaborate with DeFi startups willing to build apps on their blockchain.
IOST blockchain is more scalable in comparison to Ethereum and offers innovative architecture that bodes well for multiple decentralized identity applications. Data sharing protocols have also been updated. The characteristics of IOST bode well for Bidao, who is looking to create a one-stop solution for EOS, Tezos, and Ethereum.
