What is Basix (BASX) | What is Basix token | What is BASX token

What is Basix (BASX) | What is Basix token | What is BASX token

The basix Protocol is a DeFi project designed to shake out weak hands and yield the highest gains for those who understand the rules. The $BASX token combines a simplified version of Ampleforth’s economic policy with YFI’s distribution mechanism. The result is a post-modern economic game that continually resets. The barrier of entry is fair and balanced for all participants. The only rule of BASIX is that no one can change the rules. What is Basix (BASX) | What is Basix token | What is BASX token

The basix Protocol is a DeFi project designed to shake out weak hands and yield the highest gains for those who understand the rules. The $BASX token combines a simplified version of Ampleforth’s economic policy with YFI’s distribution mechanism. The result is a post-modern economic game that continually resets. The barrier of entry is fair and balanced for all participants. The only rule of BASIX is that no one can change the rules.

BASIX Protocol:

The basix Protocol is a DeFi project designed to shake out weak hands and yield the highest gains for those who understand the rules.

The $BASX token combines a simplified version of Ampleforth’s economic policy with YFI’s distribution mechanism.

The result is a post-modern economic game that continually resets. The barrier of entry is fair and balanced for all participants.

The only rule of BASIX is that no one can change the rules.

There are no owners, and because the private keys have been burned, the contracts cannot be changed. This makes an exit scam impossible.

DISCOVER BASIX:

$BASX is a digital token asset. Every 24 hours, the BASIX

Protocol adjusts the supply of $BASX tokens to target the value of 1 $BASX to 1 $sUSD.

Bitcoin has a stable supply, but the price is extremely volatile. For $BASX, the relationship is the opposite: a volatile supply targeting a stable price.

These changes apply to all $BASX holders. If you own 1% of the supply, you will always own 1% of the supply –

regardless of changes to the market cap.

BASIX GROWTH:

As the demand for $BASX tokens increases, the number of $BASX tokens you own increases. If the demand decreases,

the number of $BASX tokens you own decreases.

The BASIX protocol’s rebase function queries a Uniswap v2 oracle to compare the price of $BASX to $sUSD. This

function cannot execute more than once every 24 hours.

If the price difference between $sUSD and $BASX is more than 5% in either direction, this triggers a rebase event.

.. Above the 5% threshold, the supply expands.

Below the 5% threshold, the supply contracts. ..]

When a rebase event is triggered, $BASX supply for all holders is adjusted smoothly over a ten-day period in an

attempt to meet the targeted value of 1 $BASX to 1 $sUSD.

For all accounts that own $BASX tokens, a rebasing can either result in an increase or decrease in their balance

of $BASX.

After a minimum of 24 hours, if the $BASX:$sUSD price is still not within the 5% target boundary, a rebase

opportunity again becomes available.

For example, if the price of $BASX is $1.20 sUSD on Tuesday night and the price of $BASX is worth $1.15 in

$sUSD on Wednesday night, then the rebase event can restart.

BASIX YIELD FARMING:

If you have 100 $BASX tokens worth $150 sUSD before a rebase event, your account balance will be 150 $BASX at

the end of the rebase event.

This allows you to take advantage of future price movements.

This also works the other way around, which results in a lower balance, but it presents the best opportunity to

get back into the game or build up your stack in proportion to the total market cap for better future yields.

It also changes the entire dynamic behind DeFi by presenting new trading strategies. The savviest of

traders won’t make decisions by referencing price alone, but also consider supply, which could result in massive

gains. As always, do your own research.

BASIX MACROECONOMICS:

The price movements of traditional cryptocurrencies are tightly coupled.

When Bitcoin goes down, so does the rest of the market, and vice-versa. $BASX is not subject to this same behavior because the protocol enforces its own independent set of rules. As a result, it presents a unique value and opportunity for the DeFi space to play a new economic game.

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