- Secure
- Instantly
- Indefinitely
Currently available 
BAKSDAO platform allows you to instantly take a loan, which you can repay at any time — even the next day or in 10 years.
You get a loan in BAKS coins. Learn more about BAKS stablecoin.
You can get any amount. To do this, you have to secure the loan by cryptocurrency. You can find out how much you can get with our calculator just on the platform.
How to get a loan
- Click on the Get a loan button.
- Choose the desired loan size and transfer the required amount in cryptocurrency to the smart contract.
At this moment the funds are blocked on the smart contract so nothing will happen to them until you repay the loan from BAKS. After that, the smart contract will return them to your wallet.
- Get your BAKS.
As soon as you send funds to a smart contract it instantly issues your BAKS. The coins appear in your account. Now you can spend BAKS and have no worries about your cryptocurrency.
BAKS Exchange
You can exchange BAKS at any time on the BAKSDAO platform, we also work with popular DeFi platforms like Uniswap, Pancakeswap and others.
Loan Size
Your loan size depends on the collateral size and the cryptocurrency used as collateral — the more stable it is, the larger the loan can be.
This relationship is captured by the initial LTV — the ratio of the loan value to the collateral. On average, this figure is 70%.
Low interest-fee Loan
BAKSDAO platform charge a very low loan interest. However, the smart contract charges you a fee of 3% of the loan amount. These funds are used to support the system.
Loan Closure
You need to repay the debt in BAKS in order to get your crypto assets back.
If you need the crypto used as the collateral, you can repay the debt without buying BAKS. However, the platform will charge 15% of the loan amount for this feature.
Safety
The BAKS coin is secured by crypto assets used as collateral.
The smart contract issues the same amount of BAKS as the crypto value used as collateral.
The borrower’s funds protection is guaranteed by international audit companies.
Unlike a bank, the BAKSDAO platform cannot use the borrower’s funds at its own discretion. With the help of the Etherscan service, you can always check that the smart contract keeps your funds.
BAKS Stability
BAKS is a stablecoin. This means that its value is always equal to the value of a stable asset. In our case, this is $1. To maintain this parity, the platform’s smart contract verifies the rates of the coins used as collateral with the volume of issued BAKS every minute and, if necessary, burns or issues BAKS. You can always check that the BAKS rate does not change using the Etherscan service.
BAKS Stability
BAKS is a stablecoin. This means that its value is always equal to the value of a stable asset. In our case, this is $1. To maintain this parity, the platform’s smart contract verifies the rates of the coins used as collateral with the volume of issued BAKS every minute and, if necessary, burns or issues BAKS. You can always check that the BAKS rate does not change using the Etherscan service.
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