Bidao (BID) Ethereum

Bidao is a multi-chain decentralized finance (DeFi) platform and stablecoin. It is the first trustless stablecoin pegged to the U.S. dollar (USD) using the Binance Chain platform. One of the main features of Bidao is that it allows various different cryptocurrencies to be used as collateral for BID stablecoins — including TRON (TRX), Ontology (ONT) and Dash (DASH).
This new stablecoin solution introduced by Bidao is completely integrated with the Binance blockchain, helping it benefit from the speed, reliability and efficiency offered by the platform. Bidao aims to achieve greater transaction speed than traditional ERC-20 tokens as well as long-term scalability thanks to the ease with which Bidao sidechains can be deployed, and the efficiency of the smart contracts offered by Binance Chain. The goal is to incorporate other blockchains in the near future.
Using Binance Chain as the settlement layer has various benefits over other platforms like Ethereum, including dramatically faster settlement times and reduced fees. Bidao users will need BNB in addition to a supported collateral asset to generate BAI stablecoins. These stablecoins are pegged 1:1 with the US dollar.
Users must over-collateralize to borrow BAI tokens (the stablecoins of the BAI ecosystem), and the Bidao team implemented a stability mechanism that employs several techniques to ensure the stablecoin maintains its peg at 1 USD.