Base Protocol - A Stable Peg to All Cryptocurrencies

7 29

Written by

ico

No bio yet...

4 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Introduction

Now cryptocurrency has been traded freely in various countries in the world. A cryptocurrency that was initially underestimated by people has now become one of the favorite investment instruments by investors today and is a rival to fiat currency. According to a report from CoinMarketCap, the total capitalization of the cryptocurrency market is $ 447.61B. Even though this number has fallen from 2017, the cryptocurrency market remains the choice of many people around the world.

Investing in the cryptocurrency market today is not as easy as it was before. The market becomes more unstable and it is difficult to predict the trend, especially during a pandemic like now. Especially for people who still don't really know about the assets in the cryptocurrency market, they tend to get caught up in their choices and end up losing. But what if users can invest not only in 1 type of crypto asset but in more than +5000 cryptocurrencies? yes, this can be done with the Base Protocol - this is a token whose price follows the total market cap of all cryptocurrencies.

A Stable Peg to All Cryptocurrencies

Base Protocol is a platform that issues tokens under the name BASE, this is a token that allows users to invest in cryptocurrencies whose prices follow the capitalization of the global cryptocurrency market. If currently, the cryptocurrency market is $ 350B, then the BASE token will be worth $ 0.35.

It is a token that allows users to invest in the cryptocurrency market without having to buy multiple assets. With enough BASE tokens, users can speculate on the entire crypto industry simultaneously, easily, and quickly.

The Base Protocol utilizes an elastic supply protocol, which allows for rebasing, a process that expands or contracts token supply to the correct price.

How Base Protocol Works

As explained earlier, the BASE token price will follow the total global cryptocurrency market cap. But more than that, the BASE token is backed by a protocol that will ensure that the BASE token continues to run correctly, is stable, according to the predefined parameters. The following is how BASE tokens work;

Synthetic: the BASE is an engineered synthetic asset that is designed to simulate the market patterns of all crypto assets in the cryptocurrency market. This allows users to invest in not just 1 cryptocurrency, but in more cryptocurrencies.
Elastic: The protocol that manages the supply of BASE tokens. It is an elastic supply protocol that works to expand/contract the token supply. When a number of parameters are met, this protocol will adjust the token supply.
Rebase: Supply expansions/contractions, which are built with a number of parameters that will function to set the price of the BASE token.
Cascade: BASE tokens are available on DeFi platforms such as the Uniswap liquidity pool. When users stake their tokens in LP and become liquidity providers, Base Cascade will reward them according to their participation and how long they have been in the liquidity pool.

In Conclusion

There are thousands of cryptocurrencies on the market today, and most of them have increased and decreased in price. There may be many investors investing in Bitcoin or Ethereum, but how many types of cryptocurrencies are they missing?

By holding BASE tokens, investors can invest in thousands of cryptocurrencies in the market - easily and quickly - so that investors don't have to be tired of reading the trends of crypto assets one by one, just with the BASE token investors can speculate on the entire crypto industry simultaneously.

Keynotes

Base Protocol (BASE) is a token whose price is pegged to the total market cap of all cryptocurrencies.
If the crypto market cap is $350B, the BASE is $0.35.
BASE is built on an elastic supply protocol.
One-stop trading instrument which allows holders to speculate on the entire crypto industry