PayPal Finance intends to issue BRC-USDC “IOU” tokens, which will be built on BabeDAO and will be repurchased with the income supported by its business over time.
In addition, Babe FiApps, a next-generation financial application, will be built, which is open-sourced and community-owned by BabeDAO.
It is reported that BabeDAO is a dual-token system, including the governance token BABE and the basic pricing token HOPE. The token HOPE will go through three stages and finally evolve into a fully mortgaged stable currency.
Earlier, PayPal Financial said it lost $280 million in proprietary trading. Its largest creditors include Genesis Zipmex and others.