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About Basis Cash
Key Points
- Basis Share (BAS) is a token in the Basis Cash ecosystem, launched in late 2020.
- BAS is an ownership token that receives inflationary rewards from Basis Cash.
- BAS value is directly linked to increasing adoption of Basis Cash (BAC).
- Basis Shares and Basis Bonds help keep BAC at a price of $1.
- If BAC remains above $1, new BAC tokens are minted and distributed to BAS holders.
Founders and Team
- Founded by two anonymous individuals, “Rick” and “Morty”, referencing the cartoon series.
Introducing Basis Cash: A Novel DeFi Solution
Introducing Basis Share (BAS): A Comprehensive Overview
Basis Share is a pivotal component of the Basis Cash ecosystem, one of three tokens that occupy a central role. Launched in late 2020, the project’s visionaries are striving to create a decentralized algorithmic stablecoin that will emerge as a cornerstone in the DeFi landscape.
According to developers, BAS is touted as an ownership token that garners inflationary rewards from Basis Cash, with its value inextricably tied to the burgeoning adoption of BAC.
Basis Shares and Basis Bonds serve as stabilizers, ensuring Basis Cash maintains a pegged value of $1. In the event the price dips below this threshold, bonds can be acquired at discounted rates, only to be redeemed on a 1:1 basis once the price surpasses this level.
If the Basis Asset Currency (BAC) sustains a value above $1 following the redemption of bonds, a new batch of BAC tokens is minted and subsequently distributed among holders of Basis Shares.
The Visionaries Behind Basis Share: Meet the Founders
In a peculiar twist, Basis Share, along with the other tokens within the ecosystem, have been brought to life by two enigmatic individuals, who have chosen to remain anonymous, adopting the pseudonyms “Rick” and “Morty” – a nod to the beloved cartoon series of the same name.
In an AMA session held in early January 2021, “Morty” revealed that plans are underway to augment the team, with a focus on filling technical positions related to integrations and applications.
Unveiling the Unparalleled Attributes of Basis Share
What’s remarkable about Basis Share is its phoenix-like emergence from the remnants of a project that never came to fruition. The ecosystem’s constituent elements have been distilled from Basecoin, which, despite raising a staggering $133 million in its ICO, was ultimately thwarted by regulatory hurdles. Notably, esteemed investors, including Andreessen Horowitz, had thrown their weight behind the project. However, the SEC’s subsequent crackdown necessitated the return of funds to investors.
Basis Share stands out for its distinctive role as one of the two tokens tasked with maintaining the value of Basis Cash at a stable $1. Notably, BAC diverges from traditional collateralized assets, such as gold, fiat currencies, or other cryptocurrencies, instead operating independently.
One of the project’s primary objectives is to guarantee the equitable distribution of the Basis Cash stablecoin, while also ensuring its resilience to censorship.
The Circulating Supply of Basis Share (BAS) Coins: An Overview
A total of one million BAS tokens have been minted, with distribution allocated to two Uniswap liquidity pools in a 75:25 ratio. This token has been aptly described as a “long position on the entire protocol”, presenting a stark contrast to Basis Bonds, which are often likened to a fixed-yield investment product.
Naturally, the circulating supply of BAC is likely to be highly dynamic, as it will be dictated by the ever-fluctuating forces of supply and demand.
Where to Acquire Basis Share (BAS): A Comprehensive Guide
A multitude of Basis Share markets are currently accessible. Notably, a DAI/BAS trading pair has been inaugurated on Uniswap, whereas BAS/USDT pairs are available on MXC.COM, Hoo, and BKEx. Uniswap stands out as the most liquid market by a considerable margin. Learn more about how to convert fiat currencies into crypto
here
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