HomeKNOWLEDGEWhat is Backd (BKD)? Cryptocurrency details...

What is Backd (BKD)? Detailed information about BKD . cryptocurrency

What is Backd?

Backd is a trustless reactive liquidity protocol where users can earn profits and register Actions with their liquidity.

Backd protocol delegates liquidity to the most efficient place by implementing new, strategic multi-utility liquidity pools yield farming, off-chain bot (keeper) and customizable Actions.

Any user can deposit assets into Backd liquidity pool to earn profit. Furthermore, users can respond to their liquidity by registering their Backd LP tokens for Actions. Registered LP tokens continue to earn profits and Backd rewards until the user defined conditions are met and the liquidity is sent where it is needed.

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Backd What's special?

Problems need to be slove

The problem Backd needs to solve is related to capital efficiency in DeFi.

Today's DeFi protocols are often focused on performing a specific function. This can include borrowing, lending, market orders, yield aggregation, etc. While many protocols meet specific needs in a capital efficient manner, the broader DeFi ecosystem is inefficient.

This is because DeFi today is bound by static pools of liquidity or single-utility. That is, liquidity must be dedicated to serving only one function at a time.

Every time a user deposits assets into a protocol, they realize the opportunity cost of not allocating their assets elsewhere. This is one of the reasons why profit aggregation protocols don't get much TVL.

Backd How to solve the problem?

Backd eliminates the aforementioned capital inefficiencies through the implementation of new multi-utility liquidity pools. Until now, yield farming protocols have focused on solving opportunity costs by trying to increase yield.

Backd effectively reduces opportunity cost and thus increases capital efficiency by changing the nature or utility of the liquidity itself provided. Unlike conventional yield farming protocols, where the liquidity provided will stay the same until the user withdraws, the liquidity deposited into Backd can react automatically to market conditions or variables. user defined.

Specifically, users can add customizable actions to their provided liquidity. Adding an action allows users to earn profits until their assets are more productive elsewhere. At that point, the Backd protocol will automatically delegate your liquidity to where it is needed.

Key Metrics

  • Ticker: BKD.
  • Blockchain: Updating…
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  • Token Type: Utility, Governance.
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Token Allocation

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Token Release Schedule

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Token Use Case

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Token Sale

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BKD . storage wallet token

Can be stored on Coin98 Wallet.

Enter Coin98 Wallet Referral ID as “C98NBDN89Q" to support BTA.

Backd Team

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Investors

Backd raised over $3,5 million in the latest funding round led by Advanced Blockchain AG, and participants include Spartan Group, Maven 11 Capital, Struck Crypto, Apollo Capital, and Divergence Ventures.

Backd investors

Partners

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Roadmap

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About Backd

Summary

Hope the basic information about the project will help you get an overview of the project and please consider the article for reference purposes as it is not investment advice.

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