Thinking of three and four-digit annual percentage yields, Big Data Protocol (BDP) looks like becoming the latest DeFi frenzy. This is because the total liquidity on the protocol has reached USD 6.1 billion in just two days after liquidity mining incentives came into the picture.
The announcement of its launch took place on March 6, 2020, where 100% of the initial circulating supply, which is approximately 30% of the total of its BDP token, will be kept for community distribution for six days. There is a team of technologists, data scientists, crypto investors, and other minded individuals behind this thoughtful launch.
Liquidity pools for twelve different DeFi assets have attracted a lot of collaterals in only two days.
Referring to the original post-
1/ANNOUNCEMENT: fair launch of $BDP and $bALPHA is coming!
100% of initial circulating supply of $BDP is distributed to the community over 6 days, starting Sat 11 am ET/4 pm GMT
Earn by staking 12 assets $WETH $WBTC $USDT $USDC $OCEAN $LINK $SUSHI $UNI $YFI $AAVE $SRM $TOMOE [pic.twitter.com/GatOjGtUZJ]
— Big Data Protocol (@bigdataprotocol) March 3, 2021
Returns for DeFi Stakers
More than a million ETH has been deposited in the wrapped Ethereum pool according to the BDP data vault, earning an APY of about 40%. About 17,000 BTC is in the wBTC pool, reaching approximately 82% APY, while the Tether vault has secured 728 million USDT, earning 96%.
Top-earning pools can be witnessed having four-digit returns such as OCEAN at 1,375% and TOMOE at 1,315%.
A blog post explaining the tokenomics looks like this-
“Users provide liquidity to earn bALPHA over the course of 3 months. Subsequent data tokens, named bBETA and bGAMMA, will launch after bALPHA, which will further incentivize liquidity.”
A part of BDP and data tokens are burned as the usage and marketplace grows over time, it added.
The division of 80 million tokens will happen in the following manner:
- 30% distributed in the initial six days yield farming incentive
- 35% allocated to the future staking rewards
- 25% for the ecosystem reserve
- 10% for the team and advisors
The bALPHA data token will get a total supply of 18,000 tokens that will be further allocated to liquidity mining rewards. The blog post said that two more data token sets, bBETA and bGAMMA, would be announced in due course.