Big Data Protocol Sees Massive Adoption Surge in Latest DeFi Frenzy

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With three and four-digit annual percentage yields, Big Data Protocol (BDP) has become the latest talk of the town in the DeFi sector, as the total liquidity on the protocol has surged to $6.1 billion only two days after liquidity mining incentives were launched.

The DeFi protocol announced its fair launch on March 6 that 100% of the initial circulating supply—which is 30% of the total supply of its BDP token—will be distributed to the community over six days. The project is backed by a team of technologists, crypto investors, and data scientists and designed to incentivize liquidity mining over the long term.

There are several liquidity pools for twelve different DeFi assets, which have garnered significant collateral over the past two days. Although yield farming can generate significant returns, potential investors are advised to weigh the risks involved to determine if it is something they can cope with.

More than 1,000,000 ETH has been deposited in the wrapped Ethereum (wETH) pool based on reports from the BDP data vault, placing its APY earning at 40%. About 17,000 BTC is in the wrapped Bitcoin (wBTC) pool with APY earnings of 82%, while the Tether vault has grown by 728 million USDT earnings 96%.

Meanwhile, the top-earning pools are posting 4-digit returns with OCEAN at +1,375% and TOMOE at +1,315%.

A blog post explained that:

“Users provide liquidity to earn bALPHA over three months. Subsequent data tokens, named bBETA and bGAMMA, will launch after bALPHA, which will further incentivize liquidity.”

The post added that a portion of BDP and data tokens are burnt as the adoption of the Protocol and marketplace grows over time.

Distribution of Token Supply
Meanwhile, the total supply of 80 million tokens will get distributed in this order: 30% of the tokens will get distributed in the initial six-day yield farming incentive, 35% will get allocated to future staking reward programs, 25% will get reserved for the ecosystem, and 10% will go to the team and advisors.

The bALPHA data token has a total supply of just 18,000 tokens, which will get allocated to liquidity mining rewards.

 

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