Borderless and decentralized, that is the way the financial world is gravitating towards in this era. The financial market is witnessing an astounding shift in terms of transparency, more control over assets, and an increase in convenience. Businesses and institutions of today can see how advantageous it is to integrate blockchain technology into their existing products.
The Defi Eco space
Defi stands for decentralized finance which is backed by blockchain technology and allows global access to safe transactions, financial services, and low transaction prices. The forerunners of the DeFi system are instruments like stable coins and new derivatives exchanges like FTX. DeFi is paving its way through augmentation and not replacement or revolution.
Why the BambooDeFi project?
Represented by a panda, the BambooDeFi project relies on finding harmony and balance even in chaos. The development team of BambooDeFi has integrated the aura of a panda by imbibing a balance between reliability, security, and profitability. Often times a problem seems daunting when you use brute force, but a soft and firm approach can give it the nudge that it needs. BambooDeFi believes that it can get the desired results and gain the respect of its users (and the entire DeFi clan) by launching the platform with the perfect blend of firmness and softness that would lend creative approaches to other projects.
Launch of the IEO on 25th December 2020
BambooDeFi launched its token BAMBOO on the 25th December 2020 with Chainx which had a maximum purchase quantity of 2000.
· It uses Ethereum (ETH) for purchase in Chainvest.
· During the sales period, the price ratio will depend on the coin market cap, ETH dollar market price at that time.
· You can apply 1ETH per BambooDeFi ticket within Chainvest.
· There are three rounds (Sales period is from 25th December 2020 14:00 (KST) to 30th January 2021 13:00 (KST)) planned as per the following schedule:
· First round – 25th December 2020 to 1st January 2021
· Second round – 6th January 2021 to 16th January 2021
· Third round – 17th January 2021 to 30th January 2021
The pillars of BambooDeFi
BambooDeFi uses the AMM (Advanced market maker) which is an automated system enabling BambooDeFi to offer foreign currency exchange to the crypto-currency pairs provided by the LPS (Liquidity providers). BambooDeFi wants to build a DeFi exchange platform that provides high liquidity to traders and an attractive pricing system for traders to sell their assets. It aims to accomplish all that with the following technologies and protocols:
· The first thing that differentiates BambooDeFi from other Defi projects is the fact that the BAMBOO team will not get anything from the growth of BAMBOO. Unlike other exchanges that get a cut from each token that is generated by the DeFi system, all the BAMBOO generated in the staking system will be distributed amongst its users. This ensures that BambooDeFi grows at a great rate.
· In the first two years, the BAMBOO protocol gives the ability to change the emission level of the BAMBOO token. This is done so that the price of the BAMBOO tokens does not fall on external exchanges.
· Users can gain more BAMBOO by taking part in the exciting game of RAINDROP. It is a lottery system designed to control inflation, support BAMBOO prices, and reduce total and current supply. It has two types of lotteries:
· Bamboo raindrop – You can purchase unique numbers for BAMBOO and nine numbers are chosen randomly every 10 days. The 9 lucky ones would get an even distribution of 90% of BAMBOO and the remaining 10% goes back to Bamboo vault to support the development of the platform
· Bamboo burn yearly party – This annual lottery is based on the users’ need to burn BAMBOO. The BambooDeFi team would collect 10% of the commissions to accumulate the jackpot.
· Bamboo wallet - This is a multi-currency portfolio where users can safely store, stake, and transfer currencies and tokens to the liquidity pool as a liquidity provider.
· Bamboo Liquidity Pools – For each liquidity pool you provide liquidity to, you are rewarded with a share of trade rates generated by those pools. The Bamboo stands out from other DeFi systems by providing the share of trading rates even after you have withdrawn your liquidity from the pool.
· BambooDeFi code is audited by the best in the industry, Red4Sec. You can be guaranteed that the BambooDeFi code is tested and validated for any kind of security and other loopholes. All the SmartContracts of BambooDeFi undergo the strict audit of Red4Sec. The NexxyoLabs believes that all software development must go through the rigorous process of finding vulnerabilities and assessing risks.
Bamboo is part of the EEA (Enterprise Ethereum Ecosystem)
The blockchain adopters, leaders, innovators, developers, and businesses from all around the world are part of the largest enterprise Ethereum ecosystem called EEA. By being part of the great family Bamboo can adopt and use Ethereum technology in its daily operations. This enables BambooDeFi to empower the Ethereum ecosystem by developing new business opportunities, collaborating with each other, driving industry adoption, etc.
BambooDeFi has a wide international community
Many new communities with a keen interest in BambooDeFi are flourishing all around the world. There are communities in Dutch, Turkey, Thailand, Japan, India, Africa, Vietnam, Arabic, Bangladesh, France, Brazil, Philippines, etc. Currently, the BambooDeFi is working on the Spanish speaking group and hopes to have it set in a few days.
Conclusion
As crypto is getting more and more mainstream, the DeFi movement is changing the way people handle their businesses and finances. BambooDeFi brings in its difference in the DeFi platform with its panda logo signifying peace and good luck. This translates into BambooDeFi’s ability to change the DeFi landscape for the better. BambooDeFi is aware that remarkable results are brought about by bringing the entire world together and that is what the company strives for. The company is gearing up to be a solid supplier in the DeFi market with its strong belief in DeFi’s ability to solve existing financial problems thereby improving the quality of life of ordinary people.