BakerDAO, a decentralized stablecoin issuance protocol, has been deployed and BAI, a decentralized stablecoin, has been issued on the Binance Smart Chain (BSC). The V1.0 version has been launched, including two systems: Borrow and BKR liquidity farming. A total of 1 million BKRs, BakerDAO's governance token, have been issued. The first round of liquidity farming was completed in July 2021, releasing 80,000 BKRs, or 8% of the total. The three problems encountered after launching, namely liquidation, BAI stability and BKR stability, made the BakerDAO team think further about the system. Hence they introduced the BakerDAO System Upgrade Scheme V1.0, stating that the system would consist of six major components — Borrow system, BAI liquidation pool, BAI stabilization pool, DAO pool, BKR farming and aggregation platform —, the liquidation module of the Borrow system would be optimized, and the existing vault would be upgraded to an open one. In addition to the system itself, the team has also conducted in-depth thinking and research on the economic model. Now BakerDAO's economic model 2.0 is released to better match each component of the BakerDAO's system and achieve the three ultimate goals: anchoring BAI at USD1, returning profits to BKR holders, and creating a prosperous multi-chain BAI ecosystem.