🍞BakerDAO
What is it?
BakerDAO is a protocol incubated by Yeet and Kodiak Finance.
BakerDAO issues BREAD: an up-only BERA derivative which can be borrowed against at 99% LTV with no liquidations, and can be looped in order to access leverage.
BakerDAO acquired stBGT (a BGT LST) from Stride
How is it linked to Yeet?
BakerDAO profit is shared among Yeet, Kodiak, and Stride in the following split: 40/40/20
Liquidity and debt incentives via bribes as well as BakerDAO operating expenses are deducted from BakerDAO revenue before distribution of profit
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