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ICO Review: Is Bidao Chain ICO worth looking into?

bidao ico review

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It has been a while since we have done any ICO Reviews. Not because ICOs are not happening but because good ones have mostly been taking place behind the closed doors giving access to high net worth individuals.  

This is primarily because the SEC has been cracking down on ICOs offered without its blessings.

Irrespective of the reasons, the whole spirit of cryptocurrencies being equalizers of economic disparity has been taking a back seat with many ICOs turning out to be scams and then the rest with the fear of being cracked down by the SEC and the alike.

Today, we are going to look at a new ICO that is currently underway. Bidao Chain.

What is Bidao Chain?

bidao chainDAO stands for Decentralized Autonomous Organization and because this solution is integrated with Binance Blockchain initially it is called BiDAO.  We will call it Bidao, BiDAO, BIDAO interchangeably.

You can think of Bidao as a stable-coin that is blockchain-agnostic, meaning it can accommodate any blockchain network (although it is tied to Binance initially).  It is similar to MakerDAO but without heavily relying on just one blockchain network.  It is the ‘first decentralized, trustless USD stablecoin & DeFi on Binance Chain.’

Similar to MakerDAO, Bidao also has three token structure.   

MakerDAO’s main token is called Maker and Bidao’s main token is called BID.

MakerDAO’s underlying currency is Ethereum while Bidao uses Binance Coin.

MakerDAO’s stablecoin is DAI and Bidao’s stablecoin is called BAI.

As you can see, structurally, it looks like a clone of MakerDAO, however, MakerDAO only has a supply of about 1 million, Bidao has over 2.6 Billion (1.95 billion sold during ICO which represents 75%). 

MakerDAO is also primarily focused on Ethereum Blockchain while Bidao is aiming to be blockchain-agnostic.

Problem Bidao solves

From their executive summaryAt the moment there is no trustless stablecoin that is blockchain-agnostic and allows different crypto assets as collaterals. The only similar system is MakerDAO, but MakerDAO is completely dependent on the Ethereum Blockchain and therefore not able to interact frictionless with other crypto assets. The decentralized finance (Defi) market is growing each day and users are looking for new tools that can be used in the new decentralized.”

Dedicated to DeFi applications

Bidao is looking to focus on Decentralized Finance space. 

Decentralized Finance, as the name suggests, is financial services built and offered on top of trustless systems like Blockchain. Currently, the biggest offerings under the DeFi are:

  • Stablecoins
  • Crypto Lending services
  • Decentralized Exchanges
  • Tokenization platforms

Stablecoins touch almost all aspects of DeFi.  Bidao addresses the stablecoin aspect.

Executive summary explainsBidao is building a new blockchain system that is dedicated to DeFi. In the beginning, Bidao will be completely integrated with the Binance Blockchain and BNB will be used as the collateral. In the future also other Blockchains will be integrated into the Bidao ecosystem. Our goal is to create a blockchain-agnostic ecosystem for DeFi applications.”


Bastian Aigner is the CEO of Bidao Chain who is just 21 years old.  You might be tempted to see him as the new Vitalik.  Don’t let his looks fool you – Bastian has been coding since he was 9 years old and he is among the only few people in the world to have received Apple WWDC Student Scholarship, 3 times.  

Bastian has been working in the blockchain industry for the past 3 years and he is fond of Binance and naturally Bidao is now tied to Binance Coin (and platform).  We will let him give you his own intro.

21-year-old Apple Scholar Launches Bidao on the Binance Chain!

Decentralized finance and trustless Stablecoin on the Binance-chain. You can find more details here: Our CEO is a three-times Apple s…

Their CTO, Brian Condenanza, was among the top 10 of the 2018 “Top 100 Young Entrepreneurs in the World” and a TED talk fame.   

Partnerships & Progress

Bidao Partnership withWe must say that Bidao has been quite impressive on the execution side. It has already worked on and released over 140,000 lines of code.

It already has partnerships with Binance, Tellor, Tron, Chainlink, Ontology, Qtum and they continue to add more.

Building on Binance will give Bidao access to a great pool of traders and projects built on top of Binance.  Bidao expects to make BNB backed loans as simple as clicking a button.

Bidao Chainlink

Bidao Partnerships Binance

Bidao Partnerships


Social media following:  This is probably a pet peeve of ours. Bidao seems to lack the social media buzz that it deserves, in our opinion.  At the time of this writing, their social media stats look like this:

YouTube subscribers: 1.8K 

Telegram: 1866

Twitter: 2906

Reddit: 107

We would have appreciated it if they made their links about media mentions live…we couldn’t personally verify these.

Bidao Features

They still have 6 more months to go and may gain traction/following.  

Addressable market size – trillions of dollars

It is expected that Ethereum alone is poised to capture over a Trillion dollar market cap with the DeFi Applications on Ethereum network.  

The entire addressable that could be disrupted by the DeFi applications is worth multi-trillions dollars.

There is room for a lot of players in this space and Binance which is at the forefront of every aspect of Crypto will not stay on the sidelines while Ethereum builds to cater DeFi.

Binance created the crypto news sensation by buying CoinMarketCap for 400 Million dollars. If Binance backs Bidao to make waves in the DeFi space – we could see some push from Binance to promote Bidao.  This is a speculation at this point. 

Nevertheless, the addressable market size for DeFi is too massive and can accommodate many billion dollar companies.


What is unique about Bidao project is investors can start staking their tokens right away.  This is important because the token sale is going to be going on for a year, similar to EOS, except Bidao is not looking to raise 4 Billion dollars.  Their hard cap is 19.5 Million dollars.  In our view that is a decent hard cap which leaves room for growth.  

Bidao Tokenomics
Source: Whitepaper

Restricted countries: USA, China

Staking tiers:

Investors can stake their coins while the ICO is going on.  Below is the staking tier:

    Bidao ico phase
Source: Whitepaper

Coins purchased post ICO will yield a 3% interest for life.

Bidao token sale

Pros & Cons

Pros: If the profiles were to be believed – the team comes with a good skill set.  In technology – age does not correlate with the experience.  Their partnerships and work put into the project are all a plus. 

Cons: Relatively unknown team although we have 3 time Apple prize winner and a TED talk fame.  Lack of advisors on the project is concerning. Their somewhat salesy approach to token sale is a turn off.


Bidao is a mixed bag of a project. It has the great intellectual backing of young-talented-techie so one could argue it can sore to Ethereum heights, while their videos are pretty ‘salesy’ which can be off putting.  

The staking tier is both a good marketing strategy to lure people to the ICO and at the same time it could be a turn off for many.

It has a lot of partnerships even before the ICO ended and the team seems to be busting it with 140,000 line code.  We expect to see more partnerships and traction for this project.

MakerDAO and Ethereum are already at the forefront of DeFi, however, being among the first – these projects do have some shortcomings that can be exploited by Bidao.

In our opinion, we think this would have been a great project given the team’s dedication and the traction it has gained so far but falls short because of lack of advisors on the team, lack of genuine social buzz, claims of scam and somewhat sales pitch and ICO tier structure.

As with everything in the crypto space, there are no guarantees and one could lose the entire investment. We can only give you our opinion, we cannot tell you what to do.

Disclaimer: We invest in the projects we review, although this is not always the case (especially when there are restrictions), however, we keep our review/opinions unbiased as we are not compensated for posting a review.

Related Articles:

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Thank you for reading and sharing this article. Stay safe and healthy!


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Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

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