Basis Cash (BAC)
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.