Big Data Protocol + OpenDAO: A New Stablecoin
OpenDAO is happy to welcome another member to the family. We will be working closely alongside Big Data Protocol (BDP) to bring more utility and integration to the DeFi space!
“The new collaboration with Big Data Protocol is a big step closer towards the maturity of DeFi and Big Data. Being able to deploy BDP as collateral, the new stable coin is going to be a more flexible financial instrument, a benefit for our respective communities, and a cornerstone for further development, not only for Big Data Protocol and OpenDAO, but for the DeFi space as a whole. A big thanks to the BDP team and community for helping make the future happen together.”
-Sean Qian (CoFounder of OpenDAO)
BDP will soon be available for use as collateral in minting a dollar-pegged stable coin at OpenDAO! Read below to see how this benefits YOU!
What is the Big Data Protocol?
Big Data Protocol is a DeFi protocol and data marketplace designed to source commercially valuable data from professional data providers, tokenize it, and make it liquid. The Protocol has a vast existing ecosystem of professional data providers, connecting over 14,000 professional data providers with over 10,000 data consumers, most of whom are asset managers.
The data tokenized by the Big Data Protocol is commercially valuable because it is the same data that hedge funds, family offices, and other institutional investors pay to gain market insights and guide their investment decisions.
Their goal? To take their success in the data marketplace and expand it on Web 3.0….
….So far so good!
Learn more by visiting their website — click this link!
What is OpenDAO?
OpenDAO (OPEN) serves as a bridge for real-world assets to cross over into the growing DeFi infrastructure. The goal is to bring more value into the space by providing exposure to real estate, stocks, and more… all in a uniquely permissionless and seamless manner.
The DAO is nearly finished with the architecture for the creation of a superior stablecoin, one backed entirely by the world around you. See the links at the bottom of this article to learn more!
User Benefits: Mint a Stablecoin with BDP
The process for using BDP as collateral to mint a dollar-pegged stablecoin with OpenDAO is underway! But, what does this mean for YOU?
We were hoping you would ask…
If you’re a BDP holder and you’re long on the project, but want to get capital for further investments, ‘double down’ on Big Data Protocol, or simply free up some cash, this new stable coin was created with you in mind. Stablecoin minters will be able to quickly convert to $USDC for deployment elsewhere, or will be able to add their newly minted stablecoins to a stablecoin pool and receive $OPEN and $BDP as rewards!
Building has already begun!
MORE DEVELOPMENTS TO COME…
That it’s for now, but knowledge is power — be sure to check the links below for more info! If you’d like to hear more of these developments or see even more articles like this, be sure to show us that you’re here! Be heard and slap that ‘clap’ button a few times!
Big Data Protocol Main Links
OpenDAO Main Links
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/