baoUSD is a fully collateralized, decentralized stablecoin created by Bao Finance on Ethereum.
baoUSD allows any user access to a dollar-pegged token and to be their own bank. You can take out or repay loans in seconds, without any approvals or credit checks. baoUSD is backed by locked collateral tokens and there are multiple mechanisms helping it keep its peg. Its supply is controlled by "the fed".
