About bcked

Mission

Support the movement towards asset-backed cryptocurrencies and tokenized real world assets (RWAs) by providing the definite information source on backing.

Motivation

How do you protect your hard earned money during a recession? What if fiat is inflating? What if the stock market is crashing? What if the housing bubble could burst at any time? What if your favorite crypto project is just hype without anything backing it up?

In the wake of the 2022 recession, I asked myself these questions. For me, some form of diversification into different asset classes seemed sensible. Also cryptocurrencies which are backed by another asset looked very interesting to me. Or even better, a cryptocurrency backed by other assets of different asset classes. While researching this topic, I quickly noticed the lack of information on backed cryptocurrencies. This is why I created this open-source project which seeks to build up a knowledge base and a community around the topic of cryptocurrency backing.

If you have any questions, want to contribute or any other request, feel free to write on GitHub or by email contact@bcked.com.

Roadmap

Follow our public and completely transparent roadmap planning.
Planned for Iteration 2

  • The current system expects a generic / standardized way how price, supply and backing is derived. In many cases this seems to not work. For example prices for token contracts might not be tracked on DefiLlama or DexScreener but could be derived from an oracle. Or backing might work differently than the standard of having a balance in a contract.

    We want to add the capability of supporting any custom logic to derive price, supply and backing for an asset via custom query code per asset which is executed if provided. This will allow to properly cover more assets.

Planned for Iteration 3

  • The EVM native tokens like ETH, BNB, GLMR, ... are themself not ERC20 tokens. The current generic querying of price, supply and backing therefore doesn't work for these. As a consequence, EVM native tokens are not tracked as backing of e.g. wraps, bridges, or similar.

  • Many projects have a dynamic backing basket which can change based on events or on issuer decision. Rather than having to state up-to-date with every project and manually update the asset details, a script per asset should allow to automatically query the newest asset details like current underlying assets. This could be queries from some manager contract or similar.

    This should reduce the need for maintenance.