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].

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

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."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on:

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.

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.