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Summary of Basis Share (BAS)
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.
- Its value is directly linked to the adoption of Basis Cash (BAC).
- BAS and Basis Bonds help maintain BAC’s price at $1.
- If BAC’s price falls below $1, bonds can be purchased at a discount and redeemed at 1:1 when the price exceeds $1.
- If BAC remains above $1, new BAC tokens are minted and distributed to BAS holders.
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About Basis Share: Unlocking the Power of Decentralized Finance
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 stable value of $1. Should the price dip below this threshold, bonds become available for purchase at discounted rates, with the option to redeem them on a 1:1 basis once the price surpasses this level.
If the Basis Asset Coin (BAC) sustains a value above $1 following the redemption of bonds, new BAC tokens are minted and subsequently allocated to 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, aptly dubbed “Rick” and “Morty” – a nod to the beloved animated 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.
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