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Author Topic: Based Finance - Introduction and Innovations  (Read 300 times)

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Nsatsdja

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Based Finance - Introduction and Innovations
« on: 26. March 2022., 09:42:52 »


Introduction to $BASED
The Based Finance token, $BASED, is an algorithmic token pegged to $TOMB built on the
$FTM network. The protocol’s underlying mechanism dynamically adjusts $BASED supply,
pushing its price up or down relative to the price of $TOMB. Based finance is a multi-token
protocol which consists of the following three tokens:

• BASED ($BASED).
• BASED Shares ($BSHARE)

• BASED Bonds ($BBOND)
The price of $BASED is pegged to that of $TOMB, and through our LP farms $BSHARE is
produced as a reward. When the price of $BASED is above that of $TOMB, $BSHARE
tokens can be locked (for at least 24 hours) in the Acropolis in order to earn further rewards
in $BASED (inflationary).

If the price of $BASED goes below 1 $TOMB, the Acropolis stops printing to prevent further
inflation and $BASED can now be burned in exchange for $BBOND (deflationary). $BBOND
can be swapped back for $BASED (+ a holding incentive) from the DAO treasury once
$BASED is back above its peg.
You can find an introduction to our based team here.
https://medium.com/@basedfinance/based-team-introduction-2cb60b4d3e34

$BASED Timeline
Jan. 31: Giveaway #1 (1 $ETH)
Feb. 5 - 6: Successful Project Launch " https://medium.com/@basedfinance/based-launchprocedure-a8801e7d8ad2 " (TVL >$10M)
Feb. 7: Curve Geist Stablecoin Pool Receipt Token Farm Added
Feb. 8: Competition #1 (700 $TOMB)
Feb. 11: Team KYC’ed by AssureDefi (TVL >$20M)
AND Audit Initialized with Obelisk (still ongoing)
Feb. 12: Curve Tricrypto Pool Receipt Token Farm Added
Feb. 15: Competition #2 (3 prizes, [10k | 9k | 9k] $USDC)
Feb. 17: Now listed on multiple platforms (TVL > $50M)
Coingecko, Vfat, Coinmarketcap, Defillama, Debank
Yieldwolf, Beluga, Grim Finance

Feb. 22: Partnership wih $TOMB (TVL >$75M)
Feb. 23: TVL Reaches $100M
Feb. 25 - Mar. 11: Listed on additional platforms
Matrix Farm, Podtown, Apeboard, Beefy, Devil Finance, Tarot, Autofarm
Mar. 4: Giveaway #2 ($3000 of $BASED) and First Based Friday
Mar. 9: Giveaway #3 (0.5 $BSHARE)

Mar. 14: RugDoc Review
Mar. 18: Competition #3 (2 prizes, [4k $USDC + 1000 $BASED] each)
AND Fully Audited Zap-in Feature Implemented
Current Farming/Staking Options
Basedfinance.io
• Agora (Earn $BSHARE)
• Deposit $BASED-$TOMB LP
• Deposit $BSHARE-$FTM LP
• Deposit $BASED-$MAI LP (0.2% Deposit Fee)
• Deposit $BASED-$BSHARE LP (0.2% Deposit Fee)
• Deposit Curve Gheist Receipt Tokens (0.2% Deposit Fee)
• Deposit Curve Tricrypto Receipt Tokens (0.2% Deposit Fee)
• Acropolis (Earn $BASED if $BASED > $TOMB)
• Deposit $BSHARE
• Parthenon
• Burn $BASED if $BASED < $TOMB, get $BBOND
• Burn $BBOND if $BASED > $TOMB, get $BASED + hodl incentive

External Sites
• Auto compounders
• Yieldwolf, Beefy, and Beluga
• Autofarm and Matrix Farm
• Grim Finance, Pain Finance, and Devil Finance
• Leveraging and Reward Boosting
• Tarot
• Podtown

What Makes $BASED Different
Beyond having a BASED AF team, a partnership with $TOMB, large TVL, listings on multiple
platforms, a clear security-first focus, over $40k worth of giveaways/prizes, (should I
continue?) so far the based devs have implemented 3 key innovations that set us apart from
other projects:

• Triple yield stable coin pool with curve gheist receipt token
• Tricrypto pool with curve reciept token
• Based Fridays (weekly announcements and recaps)
A profit sharing feature is also in the short-term roadmap, along with a tease at an additional
protocol being developed. Much more to come from this team, don’t miss out on this you are
still early.

For now however, $TOMB on and stay $BASED!
Website: https://basedfinance.io/


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Based Finance - Introduction and Innovations
« on: 26. March 2022., 09:42:52 »

 

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