Buddy DAO aims to be the first guarantor based DeFi lending protocol, as part of the mission to build a decentralized bank where everyone can get a loan in seconds.
Buddy DAO proposes a solution by having a borrower to bring along a guarantor. This guarantor knows the borrower and has a lot of off-chain data about the borrower and should be able to predict the borrower's creditworthiness. As the protocol does more and more loans, Buddy DAO expects there to be on-chain data to analyze each borrower and the role of guarantor will become less significant.
Buddy DAO Protocol is empowered by $BDY, a BNB-based governance token to guarantee and incentivize the improvement of the protocol over time.