The platform is a dataset marketplace, offering investors the opportunity to purchase insights generated by “14,141 professional data providers”. It introduced two tokens with its launch — BDP and bALPHA — which serve different purposes. The platform works like this:
- Data providers gather data and publish it to the BDP marketplace by paying a fee in BDP tokens.
- Users farm bALPHA tokens via a liquidity mining program, and purchase datasets with those tokens.
BDP and bALPHA tokens can be farmed via the project’s liquidity mining program, which started on 6 March.
BDP tokens can be farmed by staking assets in any of the single-sided pools here. The value locked in these pools is about $6 billion at press time, with APYs ranging from 17% for the WETH pool to 600% for the OCEAN pool. The pools at the moment include the following assets:
Thirty percent of the total supply of BDP will be paid out as rewards for liquidity providers in these pools in the span of 6 days; the program will end on 12 March at around 11 AM ET.
bALPHA tokens can be farmed by staking liquidity in the BDP/ETH or bALPHA/ETH pools on Uniswap. It works the standard way: provide liquidity, get stake tokens, stake the tokens here.
The entire supply of bALPHA will be rewarded over the course of 3 months. The token is specifically designed for the purchase of the first batch of datasets. Subsequent batches will be purchased with bBETA and bGAMMA, two tokens that will be launched at a later point.
The project states, on its FAQ page, that its smart contracts “were developed and audited by the TomoChain/LUAswap team”, and that the “smart contracts are based on battle-tested staking and farming contracts used widely in DeFi projects”.