Bidao
Summary
Bidao (BID) is a DeFi project that conducted a year-long ICO from September 2019 to September 2020, raising an alleged ~$18 million to build a collateral-backed stablecoin (BAI) and governance token (BID) on Binance Chain. Despite a hard cap of approximately $19.5 million and the 2020 token listing, the promised stablecoin infrastructure was never delivered; the BID token subsequently lost over 99% of its all-time-high value. The project's operator, Bastian Aigner, later pivoted to launch a separate ERC-20 token called Bidao Smart Chain (BISC) in March 2023, while the original BID token and its obligations to investors remained unfulfilled, prompting multiple community petitions alleging fraud and misuse of ICO funds.
Connected Entities
1 entities · 10 linked investigations- + 4 more
Timeline(14 events)
2018-01-01
Bastian Aigner and Long Zhang found Bidao project; Bidao UG registered in Germany
Coin Bureau review; NorthData corporate record2019-03-25
Bidao UG partnership agreement signed (corporate formation date per Amtsgericht Memmingen registration)
NorthData — Bidao UG2019-09-06
Bidao ICO begins; BID tokens offered at $0.01 each; hard cap approximately $19.5 million
ICO Drops; CoinCheckup2019-10-16
The Cryptonomist publishes early coverage describing Bidao as a stablecoin similar to DAI on Binance Chain
The Cryptonomist2020-09-03
Bidao ICO closes after one year; approximately $18 million reportedly raised
ICO Drops; Coin Bureau2020-09-25
Token Generation Event (TGE); BID token listed on exchanges including Poloniex, LBank, and Uniswap V2
ICO Drops; Poloniex blog2020-10-06
Medium post by 'Crypto Lantern Man' alleges zero product delivered after one year, malfunctioning website and staking, and irregular token distribution
Medium — Crypto Lantern Man2022-01-01
BID price collapses through 2022; community petitions on Change.org begin appearing, alleging broken mainnet launch promises
Change.org petitions (multiple); CoinGecko price data2023-03-30
Bidao Smart Chain (BISC) ERC-20 token launched on Ethereum; project pivots to AI-focused L1 blockchain narrative
Etherscan token tracker; CoinMarketCap BISC page2023-05-14
Last observable commit activity in Bidao Smart Chain GitHub organization
GitHub — Bidao-Smart-Chain organization2023-08-11
Poloniex delists BID token alongside twelve other low-liquidity assets
Poloniex support announcement2025-05-01
Community petitions allege that a March–June 2025 mainnet launch window was again missed; Bidao Smart Chain described as postponed 'for the 14th time'
Change.org — Broken Promises and Endless Delays petition update2025-10-01
Community petition calls for German regulatory investigation into alleged misuse of approximately EUR 19 million in Bidao ICO proceeds
Change.org petition update — Request for InvestigationDecision Log
- hash: HRPY6V58JJTnQTugQrmnyVZnLd3nBFj2QYBNHsfcTHUx
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/31/2026, 6:06:16 PM
last updated: 5/31/2026, 6:06:21 PM
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