[2024/07] Bao Devs update — What are they cooking ?
In the ever-evolving landscape of decentralized finance (DeFi), staying ahead with innovative and user-centric improvements is key to offering simple, easy-to-use front-end applications that make web3 accessible to everyone.
Bao Finance DAO, committed to enhancing user experience and streamlining operations, has rolled out a series of significant updates to its application. These updates, encompassing everything from app improvements to strategic shifts, aim to provide users with a more intuitive, efficient, and seamless experience.
Revamped Vault page
In our ongoing effort to enhance the user experience, we have redesigned the Borrow page to simplify the lending and borrowing process.
The new design is more intuitive, making it easier for users to navigate and understand. To further assist users, we have introduced clear differentiation of borrowable assets for each vault.
This improvement allows users to easily identify and select the assets they wish to borrow, streamlining the borrowing process and enhancing overall usability.
We are committed to continuous improvement and plan to gather additional on-chain data in the future. This will provide users with more comprehensive information, enabling them to conduct further research on each vault.
Earn page rejuvenated
Our Earn page has undergone a significant transformation to enhance user experience and streamline interactions. The introduction of an active gauge toggle ensures that users are presented with only the most relevant and up-to-date gauges at first glance.
This intuitive feature makes navigating the Earn page more efficient and user-friendly.
For those who still have liquidity in old gauges, fear not — by enabling the active gauge toggle, you can easily withdraw your liquidity. However, please note that adding liquidity to inactive gauges is no longer possible, ensuring a cleaner and more focused interface for all users.
Swap Synthetics and BAO tokens effortless
The Ballast feature, once a stable swap mechanism between synthetic and non-synthetic asset pairs, has now been deprecated. Although it remains accessible, users should anticipate very low liquidity.
To enhance user experience, we have integrated DeFiLlama swaps into the BAO app. This integration allows users to swap protocol tokens seamlessly within the app, removing the need for external platforms.
We’ve simplified the swapping process for three key tokens: our BAO token (V2) and our two synthetic tokens. This makes it incredibly easy for users to engage with our protocol.
Why Use the Swap Page?
For minting our synthetics, a minimum position of $5000 worth of collateral is required for BaoUSD and 2 ETH for baoETH.
Users with less liquidity who wish to participate in our protocols and provide liquidity in our gauges can easily swap assets for our synthetics via the swap page.
The swap page is also an excellent place to acquire our BAO governance token, introducing users to our ecosystem. For those holding the older BAO V1 token, the swap page facilitates the conversion to the current BAO token, ensuring a smooth transition.
Staking liquidity in gauge simplified
We have streamlined the staking function of our gauges to maximize efficiency, reducing the number of clicks and interactions required.
This enhancement ensures a smoother and more user-friendly experience, making it easier than ever to stake your assets and participate in our protocols.
We won’t stop there!
Looking ahead, we are committed to continuously enhancing the user experience. Our DAO is always looking to bring improvements following user feedback.
These ongoing efforts reflect our dedication to innovation and user satisfaction, helping Bao Finance become a leading platform in the DeFi space.
