A great few of us in the DeFi space have carved out a niche for the greater good of the cryptosphere to participate in. The last 12 months have been an incredible journey filled with blood, sweat and tears, building through Covid, up down and all around — to the Hodlers — we salute you! VISA and Paypal sealed the deal for the mainstream adoption soon to come. If that didn’t do the trick, Saturday Night Live kicked the market into the stratosphere with the SNL skit, with Janet Yellen and Eminem explaining NFTs just around the time of the largest crypto options expiration worth $6B.
There is a total locked value (TVL) in DeFi of around $65 Billion. Giants, like Maker, UniSwap, and Compound have solidified the last two years as the protocols to emulate. The Ethereum DeFi protocols built the path for new technologies to flourish — one in particular, the Binance Smart Chain (BSC).
As of April 2021, the ETH gas fees were over $100 per transaction, and some protocols required double that to enter liquidity mining pools. Prior to that, the BSC had been building steadily and the community was waiting for its opportunity to launch just as gas fees were peaking. Binance and the BSC community had made its move, and in September of 2020, before the Biden & Trump Election, a new era of virtually free gas transactions had begun, with hundreds of projects flowing into the BSC ecosystem at a pace never seen before in crypto. The market had spoken and BNB flourished, going from $40 to $600 in short order.
With cheaper fees and costs associated with BSC integrations and launching, came the scammers in droves, but nothing the crypto community wasn’t accustomed to. The earlier days of DeFi had its fair share of rugs, scams, and successes. The number of coins are endless, and the problem of picking some for long hodles, or utility is cumbersome.
Join BiShares — A new way to click and diversify your FOMO.
What are BiShares?
BiShares offers a decentralized way to ape into a basket of diversified tokens with a single purpose: Offer the safest way for crypto diversification while still being exposed to any risk class you choose.
BiShares offers an array of products that suits any novice, intermediate or pro Aper. Later, its DAO brings together the necessary decentralized protocols to ensure the community is in full control of the allocations of the fund holdings. There is no competing in our protocol, it’s a collaboration to achieve the BiShares goal — a fully self governed community led initiative to vote on how, what, where and when all BiShares funds will be built and released.
A very strategic and important goal of the founders, is that everyone has equal buying rights and a transparent approach to the betterment of the BiShares ecosystem engagement.
At the time of writing this, there are no Exchange Traded Funds (ETF’s) on the Binance Smart Chain. The founders have set their sights on the largest and most diversified funds options in all categories. With professional branding, and first to market, BiShares is set to become a household name in the cryptoverse, offering a chance for degens and no coiners alike, to enter the crypto market in a secure and more diversified way.
All incredible engineering marvels are built on foundations to last for centuries. After the DAO, the foundation will be built by the community, for the community. BiShares builders will deliver community driven curated products that solves the current problem that the crypto community faces: Not being able to take full advantage of all the great projects being launched on BSC, while practising safe and diversified strategies to deploy crypto dry powder.
Within a reasonable time frame after the initial launch of the genesis BiShares Funds, the DAO will allow the community members to vote on the upcoming fund launches. As each fund is approved, the BiShares team will implement the build, and will be funded by development rewards and marketed. A truly transparent driven focus to achieve the safest way for crypto diversification while still being exposed to any risk class chosen by the individual.
How is BiShares launching?
BiShares yearns for transparency and fairness. Each of the genesis fund tokens will launch as a fair launch with no presale or individual wallet holdings. The funds will be open to anyone with no cap limit.
The transparency of the launch dates will be posted in the approved social media accounts (links at bottom) with ample time to make a decision. All funds and their smart contracts will be audited prior to launch.
Founder rewards will be time locked for each fund and the remaining tokens will be community driven for where the spend occurs; there is no one to answer to, as there is no presale or investors and no seeding of liquidity by the BiShares team.
Who will be auditing the funds?
The team has picked strategic audits that are well known in the community. We are in the process of securing the best audit on the secondary just to make sure we are buttoned up. We will release the audits as soon as they are complete.
Developer Rewards
Rome wasn’t built in a day — the founders have vested hundreds of hours and tens of thousands of dollars bringing to market the most professional BSC funds available. Unlike other projects, the founders will remain very active and are here for the long term development of each additional fund released.
As users mint new fund tokens from their deposits a 1% fee will be applied. This fee will be used to give the community the highest quality devs and maintain brand presence. The dev team will also receive a portion of the upcoming governance token to ensure the long term success of BiShares.
Initial Genesis Product Launch
If you haven’t already guessed, BiShares represents the combination of Binance and a Share of the pool, representing the dynamic duo processed on the BSC sharing decentralized tokens in a diverse basket. BiShares has also chosen the Bison as its official mascot, simply tied for semantics, and the fact that the Bison is a majestic creature of the wild, once untamed and natural, grazing peacefully in herds, living in unison like the crypto community.
Like a herd of Bisons, BiShares believes in a transparent and harmonious atmosphere, wallowing within our own crypto community, and bringing the most professional and diverse decentralized ETF products to the Binance Smart Chain.
How it works
The team will be releasing four genesis funds to start, followed by several unique funds and a DAO token. All funds will be tokenized with a separate ticker $symbol and a separate name. Each fund will have an underlying asset pool that will be purchased automatically using the smart contract technology automation. For example, if fund A was called Top 50 Crypto, once a buyer purchases the token, it automatically splits your buy order into the 50 coins/tokens of the underlying asset and secures them on the smart contract. Let’s repeat that — when you buy a BiShares token in a fund, you aren’t just buying a magical token — you are buying all the physical assets — the token just creates a one click bridge to do it automatically.
The Genesis Funds are:
BISHARES TOP 10 BSC FUND
BISHARES CHAIN FUND
BISHARES FOMO FUND
The underlying assets in each will be updated on the website with all other pertinent info for research.
Who are the founders?
The Founders and dev team will remain anonymous. While we will remain anonymous we can say we are known-anons in the industry. We chose to let our work speak for itself.
When Ape?
The founders will be deep in the audits and when complete, an updated article will be posted with the dates that the first 4 funds will be launching and which assets will be in them. Bear in mind that dates may vary but will be announced
You are welcome to join our community with the links below.
Website: http://bishares.finance
Twitter: https://twitter.com/BiSharesFinance
Telegram: https://t.me/bishares
