Basis Cash (BAC)

From CryptoWiki

 Basics

"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

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

"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

"[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.

Funding

Partners