Throughout Africa, limited access to foreign exchange liquidity has long hindered businesses and individuals from smoothly engaging in US dollar-denominated services and fostering intra-continental trade. However, a groundbreaking blockchain-based platform called BAKI is set to democratize forex markets through decentralized technology.

Crafted by pioneers in African DeFi, Canza Finance, BAKI facilitates frictionless currency swaps at official rates via the creation of synthetic African stablecoins known as zTokens. By unlocking infinite liquidity pools for local currencies pegged 1:1 to the underlying fiat currency, it pioneers decentralized forex trading across the continent.

Central to this transformative vision are BAKI's agents – the vital links bridging Africa's traditional remittance ecosystems to BAKI's on-chain forex operations.

The Ideal BAKI Agent

The optimal candidates to become BAKI agents are Africa's existing forex traders and bureaus de change that operate conventional over-the-counter currency exchange desks. With well-established positions in remittance corridors, they possess capital flows and client networks ready to integrate seamlessly into BAKI's infrastructure.

However, the platform welcomes any individual or entity capable of providing liquidity to its decentralized forex pools. All BAKI users who mint zTokens earn a portion of transaction fees, creating income opportunities merely from holding idle capital on the platform.

Participation of BAKI Agents

To become part of BAKI's agent network, traders simply need to deposit US dollar stablecoins like USDC into the platform. They can then mint zUSD tokens at a 150% collateralization ratio – for instance, minting 1,000 zUSD by locking up 1,500 USDC.

With their zUSD balance, agents can swap into zTokens representing African currencies such as zNGN or zXAF at official interbank rates. These zTokens can then be sold to other BAKI users at a service fee determined by the agent, enabling them to monetize their forex liquidity provisioning.

Additionally, the act of minting and holding zTokens entitles agents to earn a share of all transaction fees on the BAKI platform – with 50% of fees allocated to zToken minters as a reward for their capital participation.

Earning Potential for BAKI Agents

Consider a hypothetical scenario illustrating how a BAKI agent could earn on idle capital:

Agent A's current holdings: 1,500 USDC

Agent mints 1,000 zUSD

Agent swaps zUSD to zNGN (Nigeria's zToken pegged at CBN’s rate)

Agent sells zNGN to clients at a 1% service fee

Agent earns 50% of all transaction fees just from minting

By functioning as decentralized forex desks, BAKI agents can monetize their capital flows while engaging in a novel digital remittance ecosystem driven by stablecoins. No longer are they restricted by monthly forex transaction limits or excessive fees.

The BAKI Advantage

Compared to traditional over-the-counter forex platforms and networks, BAKI offers its agents several key advantages:

- Infinite liquidity for local currencies via zToken swaps at 1:1 parity
- Trades free from slippage, always executing at official interbank rates
- Yield earnings from transaction fee cashback simply by minting zTokens
- Seamless swaps between all on-chain African currencies on BAKI
- Operation on low-fee, high-speed blockchains like Avalanche

As fiat currencies across Africa face devaluation due to inflation and forex scarcity, BAKI's synthetic on-chain representation offers traders a dependable digital peg and access to 24/7 forex markets.

For established forex businesses and traders, BAKI introduces a transparent and automated approach to conducting operations. For newcomers, it lowers the barriers to entry for participating in Africa's extensive remittance markets as agents.

Becoming a BAKI Agent

Becoming a BAKI agent is straightforward for anyone with blockchain literacy:

1. Visit baki.exchange
2. Deposit USDC stablecoins
3. Mint zUSD at the 150% collateralization ratio
4. Trade between zUSD and African zTokens like zNGN
5. Earn from transaction fees and service charges

BAKI serves as the flagship product launching Canza Finance's mission to construct decentralized financial infrastructure for Africa using web3. By embracing its network of agents, the platform endeavors to accelerate blockchain-based forex adoption across the continent.