Brief Introduction‌

Babel.fi is a crypto lending protocol based on Binance Smart Chain to mint BNB to obtain loans without fees.

‌Loans are pegged by Stablecoin LAI with a minimum mortgage rate of 110%. Babel.fi designs are architected and forked based on Liquity project on Ethereum without changing smart contract coding and no owner.‌

What is LAI?

LAI is a stablecoin used to pay out loans on the Babel Protocol. At any time it can be redeemed against the underlying collateral at face value.

What is BABEL?

BABEL is the secondary token issued by the BABEL protocol. It captures the fee revenue…


Babel Protocol and Stablecoin LAI

The stablecoin LAI for BNB at no fees.

Babel provide service based on the Liquity protocol on BSC.

Babel Protocol(babel.fi) is a crypto lending protocol based on Binance Smart Chain to mint BNB to obtain loans without fees.

Loans is pegged by Stablecoin LAI with the minimum mortgage rate of 110%. Babel Protocol(babel.fi) designs are architected and forked based on Liquity project on Ethereum without changing smart contract coding and no owner.

Babel.fi completely retained these features of Liquity without changing smart contract coding, and only burn the excessive tokens given to the Liquity’s team and investors.The idea of Babel.fi


Download and Install Metamask

  1. You must download Metamask on Google Chrome explorer:https://www.google.com/intl/zh-CN/chrome/
  2. Download and install MetaMask:metamask-chrome-9.4.0.zip

3. Create or import an account

Deploy BSC Network in Metamask extension

  1. After installing MetaMask extension, click “Extension” open Metamask and select Custom RPC to add custom network.

Users can participate the Babel Testnet to get reward 50000 Babel token airdrops in total.

How to Participate

1. Any users need to create Vault successfully before 19:00 28th April (UTC+8) on BSC testnet (https://testapp.babel.fi/#/).

2. User’s account require to have BNB tokens (no limitation).Each account can have reward up to 10 Babel airdrop (worth around $300).

Total Airdrop Reward: 50,000 Babel

Babel BSC mainnet launch time:
13:00, 8th, May, 2021 (UTC+0)

Website |Telegram |Twitter| Discord
Babel&Liquity coding comparison:https://babelfi.gitbook.io/babel-fi/security-audits


Under the radar, stablecoins have experienced hypergrowth in 2021.

The total value of stablecoins on Ethereum network has now surpassed $60 billion. Besides,Centralized fiat stablecoins have mass adoption in the market. (e.g. USDT, USDC). The decentralized stablecoin — MakerDAO is regarded as the most reliable coin, which has 88 billion dollars in Total Value Locked (TVL). DAI is worth around to US $40 billion now. In addition to MakerDAO, other substitutes have other decentralized stablecoins(e.g. Algorithmic stablecoins and partially collateralized stablecoins). The reason is that MakerDAO(or Maker Decentralized Autonomous Organization)’s ingestion of centralized stablecoins to mint DAI. It exists without…

Babel.fi

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