Basis Cash

Basis Cash

BAC
$0.002561884%2.13

Key Metrics

Price$0.002561884
Real Volume (24H)$10,888.29
Marketcap$139,815.22
Fully Diluted Valuation$204,228
ATH$1,010.99
ATH Date11/30/2020, 1:46:21 PM
ATL$0.0024051
ATL Date6/13/2022, 2:15:25 PM
Circulating Supply55M
Total Supply55M
WebsiteN/A
WhitepaperN/A
Popularity Rank3478
Chart
What is Basis Cash?

Basis Share (BAS) is an ownership token that forms a crucial part of the Basis Cash ecosystem. This decentralized algorithmic stablecoin was launched in late 2020 and is aiming to become a mainstay in the DeFi space. According to developers, the value of BAS is directly linked to increasing adoption of Basis Cash (BAC), and it receives inflationary rewards from BAC.

The ecosystem includes two other tokens, Basis Bonds and Basis Cash. The purpose of these tokens is to maintain the price of Basis Cash at $1. If the price falls below this level, bonds can be purchased at a discount price and redeemed on a 1:1 basis once prices exceed this level. If BAC remains above $1 after bonds have been redeemed, new BAC tokens are minted and distributed to BAS owners.

Interestingly, the founders of Basis Share are anonymous individuals known only as "Rick" and "Morty," a nod to the popular cartoon series. However, during an AMA session in early January 2021, Morty revealed that plans are underway to expand the team further to fill technical positions concerning integrations and applications.

Basis Share's uniqueness stems from its origins. It was born out of the ashes of Basecoin, a project that never came to fruition despite raising $133 million in an ICO, with big names like Andreessen Horowitz getting involved. Although Basis Share shares similarities with Basecoin, it differs in that it is not collateralized by an asset such as gold, dollars, or another cryptocurrency.

The primary goal of the Basis Cash ecosystem is to ensure that the stablecoin is fairly distributed and resistant to censorship. The team behind the project believes that Basis Cash will achieve widespread adoption in the DeFi space, and as such, Basis Share holders are well-positioned to benefit from its growth.

In conclusion, Basis Share is a unique ownership token that forms a critical component of the Basis Cash ecosystem. Its value is linked to increasing adoption of BAC, and it receives inflationary rewards from Basis Cash. While the project's founders are anonymous, their aim is to expand the team to enhance technical integrations and applications. The Basis Cash stablecoin aims to be fairly distributed and resistant to censorship, which the Basis Share token is well-positioned to benefit from.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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