DeFi platform takes on stablecoin providers and prepares for BSC launch?

[Mahindra]

A DeFi lending platform says that it’s aiming to tackle downsides in stablecoins  and is planning to launch on the Binance Smart Chain within weeks.
A fully collateralized DeFi lending platform has announced that it is planning to launch on Binance Smart Chain this month.
Apollo Protocol says its aim is to mitigate the risk of volatility in the crypto markets — something that often deters financial institutions and retail investors from entering the space. The project pointed to the dot-com bubble of the 1990s, when many companies were regarded as too risky to invest in. Fast forward to 2020, and some of these firms have become household names and blue-chip stock options.
The platform aims to create an environment where growth and stability are optimized, and has developed three tokens that will bring this vision to life.
AOX is pegged to a weighted basket of diverse assets — including the U.S. dollar, Chinese yuan, British pound, Indian rupee and commodities such as crude oil, gold, coffee and wheat. It’s designed to appeal to day-to-day investors and traders. The GDPs of the wealthiest seven countries are also tracked.

A recent blog post explained: “This diversity allows for our peg to more accurately reflect current global wealth. Therefore, even if certain nations, metals, or currencies are inflated or suffer an unforeseen disruption, there is balance.”
This will be complemented by AOY, a “perfectly stable” token that’s designed to remain at a fixed value of $1, which will be used as collateral for an upcoming DeFi lending platform. Last but not least, AOZ will act as an intermediary for growth within the ecosystem.

In a white paper, the Apollo team explained: “Current stablecoins are either overly synthetic and undercollateralized or overcollateralized and new models of algorithmic stablecoins (algo-stablecoins) such as rebase and seigniorage models are too volatile. Apollo has created the third generation of algo-stablecoins that achieves ‘true seigniorage’ by allowing volatility and stability to be decoupled but linked.
More information: https://cointelegraph.com/news/defi-platform-takes-on-stablecoin-providers-and-prepares-for-bsc-launch