BabelFish Money Protocol: the first chain-agnostic ‘meta-stablecoin’
If you have been around the crypto world for the last couple of months, you would have certainly heard about the so called ‘protocol network wars’. New protocols are emerging, maturing and wanting a stake of the 83.2 BILLIONS that are currently locked on DeFi. Each protocol have their own unique characteristics, technical data, and scalability.
New crypto users are getting bombarded with information regarding these new protocols. But silently and unstoppably, the most trusted and secured network of all, Bitcoin (BTC), has been getting an overhauled Contracts ecosystem which enables smart contracts and near instant Contracts payments, thus properly allowing DeFi on the Bitcoin network. All this thanks to the RSK blockchain. Projects built or launched on top of RSK are going to bring a paradigm change. Welcome to a turning point in crypto!
Enter the BabelFish Money Protocol, a multipurpose stablecoin aggregator which enhances DeFi market capabilities by opening the door to an USD multi-chained ‘meta-stablecoin’. This will help to un-fragmentize the USD stablecoin liquidity, which is unevenly distributed amongst various protocols and networks. Although $FISH is going to launch on the SOV/RSK network, it aims to be truly chain-agnostic.
BabelFish will facilitate stablecoin flow and management across chains and protocols, leveraging high-yield lending markets to acquire BTC insurance. The protocol will be governed by $FISH token holders.
The advantages of BabelFish are extremely relevant in the current cryptomarket environment. To name a few:
a) It will satisfy stablecoin demands on the DeFi landscape. It will offer a plug-in solution to the crypto DeFi ecosystem, facilitating stablecoins flow from multiple sources with the advantages of high-yield lending opportunities.
b) It is backed by an active community and a proper governance model. Without any type of marketing, so far, the community has >2,000 active members. Token holders ($fish) will be able to vote on the protocol’s direction and the use of the rBTC’s insurance fund.
c) It will be the first chain-agnostic ‘meta-stablecoin’ insured via BTC. A truly innovative and revolutionary project that has the opportunity to change the stablecoin landscape. An additional plus? it is built on top of Sovryn’s platform (which runs on the RSK network).
If you are wondering about the tokenomics, here is the summary:
Babelfish’s public $FISH governance token sale will be the first on Sovryn’s Origins Platform, and is going to be scheduled for August 25 & 26. Remember, Sovryn uses the RSK network. You can find more information regarding the token sale on Babelfish’s official telegram.
We invite you to keep an eye on this project. It has all the characteristics to be a true gamechanger.
Additional information:
a) Website: https://babelfish.money/
b) Twitter: https://twitter.com/babelfishmoney
c) Discord: https://discord.gg/2t7KJTV4NZ
d) TG (discussion): https://t.me/BabelFishTalk
e) TG (official): https://t.me/babelfishmoney
So long, and thanks for all the fish!!
