With $6 billion TVL reached in three days Big Data Protocol has turn out to be the second largest DeFi platform (after Maker), and it hasn’t even been added to DeFi Pulse but.
The platform is a dataset market, providing buyers the chance to buy insights generated by “14,141 skilled information suppliers”. It launched two tokens with its launch — BDP and bALPHA — which serve totally different functions. The platform works like this:
- Information suppliers collect information and publish it to the BDP marketplace by paying a charge in BDP tokens.
- Customers farm bALPHA tokens through a liquidity mining program, and buy datasets with these tokens.
BDP and bALPHA tokens can be farmed through the mission’s liquidity mining program, which began on 6 March.
BDP tokens may be farmed by staking property in any of the single-sided swimming pools here. The worth locked in these swimming pools is about $6 billion at press time, with APYs starting from 17% for the WETH pool to 600% for the OCEAN pool. The swimming pools in the mean time embody the next property:
- WETH
- WBTC
- USDT
- USDC
- OCEAN
- LINK
- SUSHI
- UNI
- YFI
- AAVE
- SRM
- TOMOE
Thirty % of the entire provide of BDP will probably be paid out as rewards for liquidity suppliers in these swimming pools within the span of 6 days; this system will finish on 12 March at round 11 AM ET.
bALPHA tokens may be farmed by staking liquidity within the BDP/ETH or bALPHA/ETH swimming pools on Uniswap. It really works the usual method: present liquidity, get stake tokens, stake the tokens here.
Your entire provide of bALPHA will probably be rewarded over the course of three months. The token is particularly designed for the acquisition of the primary batch of datasets. Subsequent batches will probably be bought with bBETA and bGAMMA, two tokens that will probably be launched at a later level.
The mission states, on its FAQ page, that its good contracts “had been developed and audited by the TomoChain/LUAswap group”, and that the “good contracts are based mostly on battle-tested staking and farming contracts used broadly in DeFi initiatives”.
