BidaoChain Implement Origin Protocol (OGN) As Collateral Asset
A new blockchain that is dedicated to decentralized finance BidaoChain proudly implement OGN a native currency of Origin Protocol as collateral assets. This means that OGN can be locked up in CDPs to generate the BAI stablecoin.
At first, the OGN is locked up in the CDP. In return, the appropriate amount of BAI is generated and can be used freely by the CDP creator. To regain access to the locked OGN, the BAI has to be repaid to the system. This is simply done by a simple function call and sending back the BAI to the CDP. After that, the OGN are unlocked and can be transferred freely again by the CDP creator.
About BidaoChain
The Bidao Cryptocurrency (BID) utilizes a completely decentralized proof-of-stake Blockchain with an additional collateral-backed value token which is 100% stable in value quite in contrast to for example Bitcoin, Binance Coin or Ethereum which experience huge fluctuation.
About Origin Protocol
Origin Protocol is building decentralized commerce and finance platform on the Ethereum blockchain. Their flagship product for commerce, Dshop and their NFT platform, have broken sales records with high profile NFT auctions. Origin Dollar (OUSD) is a yield-aggregating stablecoin that gives users access to the best and safest yields in DeFi. OGN is the governance token for all of Origin’s products and platforms.
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