The objective of BabelFish is to aggregate stablecoins, enhance multi-chain flow, and accelerate hyper-bitcoinization.
How Babelfish Works
The cornerstone of Babelfish is the XUSD token, which is itself a USD pegged stablecoin, while aggregating multiple other USD pegged stablecoins, such as DOC, RDOC, and others, providing a simplified and unified user experience for interacting with stablecoins.
The FISH token is used for the governance of the protocol, allowing holders to propose and vote on protocol improvements, and fund research and development efforts.
The aim for Babelfish is to have translation device for stablecoins, which works cross-chain, and allows the fragmented liquidity pools formed by various stablecoins to join as one larger and thus more liquid stablecoin pool.