Basis Share (BAS)

Basis Share (BAS) is a medium of governance for the Basis Cash protocol and offers seigniorage rewards through the Boardroom. It is a decentralized stablecoin that aims to maintain a peg of 1 USD. Unlike other stablecoins, Basis Cash expands and contracts its supply without relying on collaterals or rebases. When Basis Cash is above 1 USD, its supply is developed to bring the price back down, rewarding holders of Basis Shares. Conversely, when the price is below 1 USD, the protocol auctions off Basis Bonds to contract the supply. BAS tokens are distributed relatively through yield farming, incentivizing liquidity provision in trading pairs with BAC and DAI.

The Basis Cash protocol is governed by the community, with no venture capital funding, backers, or pre-mined tokens. The community operates the Community Development Fund (CDF) transparently through voting. This approach ensures fairness and decentralization while providing an incentive mechanism against liquidity shortages and bond death spirals. The ecosystem is developed through the CDF, and the protocol does not earn transaction fees.

Basis Cash has gained attention as an algorithmic stablecoin that revives the concept in the era of decentralized finance (DeFi). Its unique design aims to stabilize purchasing power and offers seigniorage rewards to Basis Shareholders through the Boardroom. Its fair distribution through yield farming and transparent governance by the community further highlight its commitment to decentralization and censorship resistance. Basis Cash brings an innovative approach to the stablecoin landscape within the DeFi ecosystem.