Bidao
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 12 → 26. Problems weighed by who is responsible: the subject's own conduct −70, concerns that are not fraud −9.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +10; no established finding that it defrauded anyone, so it stays out of the red band. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -70 |
| Concerns that are not fraud | -9.2 |
| Problems around it, caused by others | -1.6 |
| Long-running | +10 |
| Sum | -6 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →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
6 entities · 60 linked investigations- Bidao→mentioned with→Ethereum(65%)
- Bidao→mentioned with→Poloniex(70%)
- Bidao→mentioned with→Solana(60%)
- Bidao→mentioned with→Binance(80%)
- Bidao→mentioned with→Uniswap(70%)
- Binance→mentioned with→Ethereum(65%)
- Uniswap→mentioned with→Ethereum(80%)
- Solana→mentioned with→Ethereum(60%)
- Poloniex→mentioned with→Ethereum(70%)
Connected Through
5 shared actors · 634 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □Binanceorganization
- □Solanaorganization
- ⌂Uniswapprotocol
Timeline(14 events)
2018
Bastian Aigner and Long Zhang found Bidao project; Bidao UG registered in Germany
Coin Bureau review; NorthData corporate record25 March 2019
Bidao UG partnership agreement signed (corporate formation date per Amtsgericht Memmingen registration)
NorthData — Bidao UG6 September 2019
Bidao ICO begins; BID tokens offered at $0.01 each; hard cap approximately $19.5 million
ICO Drops; CoinCheckup16 October 2019
The Cryptonomist publishes early coverage describing Bidao as a stablecoin similar to DAI on Binance Chain
The Cryptonomist3 September 2020
Bidao ICO closes after one year; approximately $18 million reportedly raised
ICO Drops; Coin Bureau25 September 2020
Token Generation Event (TGE); BID token listed on exchanges including Poloniex, LBank, and Uniswap V2
ICO Drops; Poloniex blog6 October 2020
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
BID price collapses through 2022; community petitions on Change.org begin appearing, alleging broken mainnet launch promises
Change.org petitions (multiple); CoinGecko price data30 March 2023
Bidao Smart Chain (BISC) ERC-20 token launched on Ethereum; project pivots to AI-focused L1 blockchain narrative
Etherscan token tracker; CoinMarketCap BISC page14 May 2023
Last observable commit activity in Bidao Smart Chain GitHub organization
GitHub — Bidao-Smart-Chain organization11 August 2023
Poloniex delists BID token alongside twelve other low-liquidity assets
Poloniex support announcementMay 2025
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 updateOctober 2025
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
- slot 455361794 · hash DNPM8FQEJAcGpHCoYdAbrPE9Xpb21HM7vGn1svbSxabw
- slot 423425430 · hash HRPY6V58JJTnQTugQrmnyVZnLd3nBFj2QYBNHsfcTHUx
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 17 of 25 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 6:06:16 PM
last updated: 10/10/2026, 6:42:17 PM
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