New Stablecoin BAKS to be Listed on Coinsbit

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

The BaksDAO announced that the stablecoin BAKS will be available on the cryptocurrency exchange Coinsbit starting from February 14, 2022

One of the leading cryptocurrency exchanges Coinsbit is listing a stablecoin BAKS of the decentralised autonomous organisation BaksDAO. The token listing is scheduled for February 14, 2022.

The co-founder of the BaksDAO platform Mikhail Pospelovsky has shared the reasons why the team has chosen Coinsbit for listing the stablecoin BAKS:

“Coinsbit might be not the biggest exchange by the trading volume but it takes a solid place among leading exchanges by cumulative scores on Coingecko. Also, the important decision driver was the presence of the fiat deposit-withdraw functionality on this exchange because it provides our users with the opportunity to deposit and withdraw fiat. This year we also plan listing on other CEX and DEX platforms of the stablecoin BAKS, as well as BDV token”

BaksDAO introduced an international decentralised crypto dollar project - stablecoin BAKS, the exchange rate of which is equal to the U.S. dollar at a ratio of 1:1. Its stability is regulated by smart contracts and supported by a coin volume balancing module.

The stablecoin is backed up by the collateral secured in its smart contracts. The platform Baksdao.finance issued the BAKS coin only when there was a pledge or deposit on smart contracts. No other opportunities to issue BAKS is possible within the BaksDAO ecosystem. Smart-contract: 0x8BD22C61b409587D24d87fb56e88bd84e5D91596

By introducing a stablecoin, the BaksDAO team aims to further democratise the entrance in the decentralised finance (DeFi) field. The BaksDAO platform