Difference between revisions of "Basis Cash (BAC)"
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"''Inspired by the Basis [[stablecoin]] project of yore, [https://www.coindesk.com/basis-cash-algorithmic-stablecoin-launch-defi-rick-morty Basis Cash] is a new algorithmic stablecoin project that functions as a sort of [[DeFi]] central bank."'' | "''Inspired by the Basis [[stablecoin]] project of yore, [https://www.coindesk.com/basis-cash-algorithmic-stablecoin-launch-defi-rick-morty Basis Cash] is a new algorithmic stablecoin project that functions as a sort of [[DeFi]] central bank."'' | ||
== Audits & Hacks == | |||
* [[Bug bounty]] program can be found [insert here]. | |||
=== Bugs/Hacks === | |||
== History == | == History == | ||
* Basis Cash is a [[fork]] of shuttered algorithmic cryptocurrency Basis (9-12-2020): | * Basis Cash is a [[fork]] of shuttered algorithmic cryptocurrency Basis (9-12-2020): | ||
| Line 16: | Line 19: | ||
=== Token Details === | === Token Details === | ||
* [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 From] [[The Defiant]] (9-12-2020): | * [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 From] [[The Defiant]] (9-12-2020): | ||
"''Presenting an MVP [[stablecoin]] called Basis Cash (BAC) and a [[governance]] token called Basis Shares (BAS). To maintain its peg, a third token called Basis Bonds (BAB) is issued whenever the price of BAC drops below a dollar. Users can claim BAB’s should BAC trade below a dollar, and redeem them when BAC trades above a dollar. In its current form, users are incentivized to sell BAC down to its target peg of $1."'' | "''Presenting an MVP [[stablecoin]] called Basis Cash (BAC) and a [[governance]] [[token]] called Basis Shares (BAS). To maintain its peg, a third token called Basis Bonds (BAB) is issued whenever the price of BAC drops below a dollar. Users can claim BAB’s should BAC trade below a dollar, and redeem them when BAC trades above a dollar. In its current form, users are incentivized to sell BAC down to its target peg of $1."'' | ||
=== Stablecoin === | === Stablecoin === | ||
| Line 23: | Line 26: | ||
* Code can be viewed [insert here]. | * Code can be viewed [insert here]. | ||
* Built on: | * Built on: | ||
=== How it works === | === How it works === | ||
=== Staking === | === Staking === | ||
=== Liquidity Mining === | === Liquidity Mining === | ||
=== Different Implementations === | === Different Implementations === | ||
=== Interoperability === | === Interoperability === | ||
=== Other Details === | === Other Details === | ||
== Privacy Method | == Privacy Method == | ||
== Oracle Method == | |||
== Oracle Method | |||
== Their Other Projects == | == Their Other Projects == | ||
== Governance == | == Governance == | ||
=== DAO === | === DAO === | ||
| Line 46: | Line 40: | ||
== Upgrades == | == Upgrades == | ||
== Roadmap == | == Roadmap == | ||
* Can be found [Insert | * Can be found [Insert [[LINK|link]] here]. | ||
== Usage == | == Usage == | ||
* [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 From] [[The Defiant]] (9-12-2020): | * [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 From] [[The Defiant]] (9-12-2020): | ||
| Line 56: | Line 47: | ||
=== Projects that use or built on it === | === Projects that use or built on it === | ||
== Competition == | == Competition == | ||
== Pros and Cons == | == Pros and Cons == | ||
=== Pros === | === Pros === | ||
=== Cons === | === Cons === | ||
== Team, Funding, | == Team, Funding, Partners == | ||
=== Team === | === Team === | ||
* Full team can be found [here]. | * Full team can be found [here]. | ||
* [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 Anonymous] (9-12-2020). | * [https://thedefiant.substack.com/p/basis-cash-revives-algorithmic-stablecoin?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoyMzQ0OTY2OCwiXyI6ImM5eFJuIiwiaWF0IjoxNjA3NTk2OTIzLCJleHAiOjE2MDc2MDA1MjMsImlzcyI6InB1Yi0xMTI1OSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.Pd302XB1aQRse1FtKLHTu_uJNqO7WcDTcm2fM6JtXL4 Anonymous] (9-12-2020). | ||
*[[Do Kwon]]; pseudonymous founder, got [https://www.coindesk.com/tech/2022/05/11/usts-do-kwon-was-behind-earlier-failed-stablecoin-ex-terra-colleagues-say/ revealed] after UST's demise on the 9th of May 2022. | |||
=== Funding === | === Funding === | ||
=== Partners === | === Partners === | ||
[[Category:Coins/Tokens]] | [[Category:Coins/Tokens]] | ||
Revision as of 02:00, 22 May 2022
Basics
- Started in / Announced on:
- Mainnet release:
- Based in:
- From DeFi Prime (7-12-2020):
"Inspired by the Basis stablecoin project of yore, Basis Cash is a new algorithmic stablecoin project that functions as a sort of DeFi central bank."
Audits & Hacks
- Bug bounty program can be found [insert here].
Bugs/Hacks
History
- Basis Cash is a fork of shuttered algorithmic cryptocurrency Basis (9-12-2020):
"The project seeks to revive Basis without the SEC, VCs, or Bullshit, the anonymous founders wrote in the project’s Twitter bio."
Token
Launch
Token allocation
Utility
Token Details
- From The Defiant (9-12-2020):
"Presenting an MVP stablecoin called Basis Cash (BAC) and a governance token called Basis Shares (BAS). To maintain its peg, a third token called Basis Bonds (BAB) is issued whenever the price of BAC drops below a dollar. Users can claim BAB’s should BAC trade below a dollar, and redeem them when BAC trades above a dollar. In its current form, users are incentivized to sell BAC down to its target peg of $1."
Stablecoin
Technology
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
- Built on:
How it works
Staking
Liquidity Mining
Different Implementations
Interoperability
Other Details
Privacy Method
Oracle Method
Their Other Projects
Governance
DAO
Treasury
Upgrades
Roadmap
- Can be found [Insert link here].
Usage
- From The Defiant (9-12-2020):
"[BAC] is touting DeFi-summer-like APYs as the newly launched stablecoin trades at $57 despite targeting a $1 peg. Peaking at nearly $200M in TVL, liquidity has since dropped to $2.5M according to DeFi Llama.
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
- Anonymous (9-12-2020).
- Do Kwon; pseudonymous founder, got revealed after UST's demise on the 9th of May 2022.
