Bamboo Coin

Bamboo Coin (BMBO) is the native cryptocurrency of the Bamboo DeFi (decentralized finance) ecosystem. According to the whitepaper, the decentralized finance platform intends to exchange cryptocurrencies, store tokens, and provide ways to grow such investment of users. The project's vision is to make a decentralized finance platform that allows its users to trade assets on the platform that has attractive prizes and provides liquidity to the platform. The project’s mission is to provide passive income to various users, regardless of where they live, what their citizenship, and what political status they hold.

According to the whitepaper, the current economic crisis has shown severe issues with the traditional currency system. The closure of companies, drops in production of several companies, and inclusion of large amounts by state authorities as an anti-crisis measure led to increased inflation. Thus, such inability of the authorities to control the inflation has pushed people to look for alternative ways to manage their capital which does not depend on the actions of the authorities. Therefore, DeFi projects not only provide people a form of passive income but also unite all people. The project seeks to connect people by fair distribution of resources.

The Bamboo Defi project consists of a wallet function that allows multiple cryptocurrencies to get stored safely. The wallet also provides staking such tokens and transferring currencies and tokens to the liquidity pool. The platform also provides a game called Raindrop, where users can win Bamboo tokens. The platform further supports staking and yield farming.

The Bamboo token is both a utility and a governance token. BMBO is based on ERC-20 token standards, and the platform works on the Ethereum blockchain. The platform uses proof of work as the consensus mechanism. Users are rewarded with the Bamboo token, which provides liquidity to the platform. The users who hold a certain amount of Bamboo token are allowed to participate in the platform’s governance.

The Bamboo Defi platform is a product of Nexxyo Labs. The whitepaper was published in December 2020. The platform uses the Panda symbol to symbolize the ability to find balance and harmony in life. The Bamboo Coin team is comprised of professionals from various fields.