In the Project Spotlight series, we interview projects developing on the Binance Smart Chain (BSC). Previously, we shared interviews with many projects, including Tenderly, BunnyPark, MOBOX, Covalent, Cybertino, and Ampleforth. We follow the same concept in the SEA Hackathon Series, but here we’ll introduce you to the 5 winners of our recent SEA Hackathon. Today, we’re thrilled to introduce you to Bami, a decentralized financial hub for everyone.
If you missed the event, check out our recap here.
Spotlight on Bami
IMPORTANT: Please note the following content does not constitute an endorsement or approval of any of the products or services of the project, organization, or individual.
What is your core business? Can you expand on your business strategy to those unfamiliar with your project?
Bami is a multichain financial application aimed to bring permissionless money solutions to the masses, built to integrate interchain solutions in savings, payment, trading, money market, etc. Bami focuses on user experience first and foremost. We believe the next billion users will be onboarded through the abstraction of complexities in Blockchain applications.
Bami is built with transparency and openness in mind. We stand on the shoulders of giants and in turn, continue to carry the ethos. The platform will be open-source and the protocol will be owned and governed by you – the community. BAMI token will be used to capture the value of the Bami protocol, allowing its value to grow linearly with the ecosystem. The token will also allow the community to guide the ecosystem growth path.
Bami is built for mass adoption, thus, low cost is imperative. Launching it first on Binance Smart Chain makes sense due to the large user base and cheap tx cost. However, we understand that composability is the key to unlock the full power of Defi. Bami will be chain-agonistic. Bami plans to expand to Ethereum as the layer-2 solution matures. We are optimistic! In the future, the community can decide whether Bami should be on other layer-1 chains as well when there is demand.
Why did we build Bami?
Most of the world’s population is underserved when it comes to financial solutions. Decentralized finance is giving people more freedom, self-sovereign and financial independence. DeFi will do to banks what the Internet did to newspapers. Countless efforts were made to lay all the necessary pipes, and today, DeFi is ready for prime time and we want to bring it to the next billions of users.
Can you tell us more about your team’s background and introduce the core members?
Bami team is a diversified team around North America and Asia with a background in Blockchain & Defi.
Team chooses to not highlight team members as we would like to let the product speak for itself instead of selling “title” and experiences.
What’s the most important element on your roadmap? What can we expect from you in the coming weeks and months?
The core elements of our offers are exchange, lending, and digital initial offering (DIPO) for real businesses. We believe those are key products that can bring the maximum benefits to normal users. We are launching our lending platform and dipo in June. Our phone application are launching in August.
What’s unique about your project that differentiates it from similar projects? What’s your main advantage over your competitors?
We are focusing on the 99% that are not familiar with blockchain. With our phone app, we will remove the complexities of dealing with blockchain for end users.
What do you think made you succeed in the SEA Hackathon?
There is a great need for decentralized applications for lots of users in emerging markets. Real projects that serve this need have great support from communities. We are building an organic community with lots of efforts made in real life to reach these end users who would not have used blockchain.
Why did you decide to build on the Binance Smart Chain? What do you hope to see next from the BSC community?
For emerging markets in Asia, cheap transaction costs are vital. Plus, Binance’s name brings trust to the BSC and a large community familiar with the exchange.
Let’s say I want to start using Bami. Where do I start? Where can I find some how-to guides?
You can head directly to our website app.bami.money or check out the documentation before you start docs.bami.money. We also have a blog which is a great source of information and updates blog.bami.money and not to forget our Twitter.