basis.io without Regulatory Risk ⸺
Now on Ethereum
The protocol is designed to expand and contract supply similar to the way central banks trade fiscal debt to stabilize purchasing power, without any rebases or collateral risk.
Every Basis Cash aims a peg to 1 U.S. Dollar, and is intended to be used as a medium of exchange.
Shares are a medium of governing the protocol, and receiving seigniorage rewards through the Boardroom.
Bonds promise the holder premiums when BAC pricing returns to its 1 dollar peg.
Basis Cash supply is expanded to bring the price back down. The ones who staked Basis Shares on the Boardroom will receive BAC seigniorage as rewards.
The protocol auctions off Basis Bonds for BAC to contract Basis Cash supply. They can be redeemed for premiums after BAC price returns to its 1 dollar peg.
BAC and BAS tokens are distributed fairly through yield farming. Providing liquidity to BAC-DAI and BAS-DAI pairs result in additional BAS tokens being distributed.
This not only allows us to maintain our censorship resistance, but also acts as an incentive mechanism against lack of liquidity and bond death spirals — as famously pointed out with the original Basis.
We have no venture capital funding, backers, or pre-mined tokens. We don’t earn any fees from the transactions.
Instead, for the development of the ecosystem, the Basis Cash community transparently operates the Community Development Fund (CDF) through the votes.
‘Basis Cash’ Launch Brings Defunct Stablecoin Into the DeFi Era
Coindesk →
Basis Cash Revives Algorithmic Stablecoin With DeFi-Summer-Like Yields
The Defiant →
Algorithmic Stablecoins
The Defiant →
