Skip to main content

Based Finance – Introduction and Innovations

By: Get News

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 on our medium.

Medium: https://medium.com/@basedfinance

Docs: https://docs.basedfinance.io

Twitter: @BasedFinance_io

$BASED Timeline

Jan. 31: Giveaway #1 (1 $ETH)

Feb. 5 – 6: Successful Project Launch (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!

Media Contact
Company Name: Based Finance
Email: Send Email
Country: United States
Website: https://basedfinance.io/

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.