Base Protocol: A One-Stop Trading Instrument For all Cryptocurrencies

Ethereum's DeFi world has few rising sub-sectors, such as stablecoins, non-custodial exchanges, to mention but two.

Rebasing projects are the latest and less-popular among these fast growing sectors, but then the field's attracted attention of the public from rebasing projects currently breaking into DeFi's world. In this article, I'll explain how these projects work by means of rebases and introduce you all to Base Protocol, the first project collateralized on the total cryptocurrencies market capitalization. Before I start, let understand what rebasing is all about?

REBASING
A price-elastic token is one whose project's total token supply is dynamic, however rather sometimes changes on a normal premise.

The change in total token supply is called "rebases," occur due to market demand and are executed in such a way that users' holdings don't change and aren't weakened. Rebases are executed at a particular fixed price, in order to adjust the current price toward its peg price.

OVERVIEW OF BASE PROTOCOL
Base Protocol (BASE) is a crypto asset that was collateralized to the total market cap of all cryptocurrencies (cmc) at a proportion of 1 : 1 trillion. BASE's collateralized to cmc made it stable with the help of an elastic supply system.

It is the first tokenized digital currencies market tracker. It serves as a platform for trading instrument for all digital currencies at a time, instead of only one asset or a few portfolios among many. It enables investors to confidently invest into the whole blockchain world.

By November 30th, 2020, BASE will be listed on Uniswap and holders will have access to Cascade instantly.

Aims
To provide opportunities for individuals to profit from the overall performance of the whole digital currencies market.

HOW BASE PROTOCOL WORKS?
Without any mathematical representation, as most people are not good mathematically.

When BASE market price (bmp) is equivalent to the total market capitalization of all digital currencies (cmc), BASE is said to be in equilibrium. It is ideally collateralized to cmc.

Alternatively, if this equilibrium is disrupted, token supply will alter on the grounds that it isn't collateralized to cmc. Thus, to balance the price, a rebase will happen. Supply increases (expansions)/decreases (contractions) are known as rebases. Expansion gives room for additional supply, reducing shortage and bringing price down its original level. Contraction reduces supply, increasing shortage and moving price up to its original level.

WHY BASE?
It offers holders a similar function as a traditional ETF without the whole centralized issues that make ETF difficult to access.

It equips new and professional traders and investors to make investment or economic decisions by taking into consideration, the entire cryptocurrencies market.

During bear market, BASE holders would have less negative impact on their holdings.

WHERE DOES THE DATA ON TOTAL MARKET CAP COME FROM?
For this protocol achieve it aims, it needs a single data point of cmc. Initially, many cryptocurrencies data APIs will be utilized intermittently by a majority of Chainlink oracles to provide the market cap. The Chainlink oracles utilize the median value of cmc data gotten from all the cmc data providers.

SOME CURRENT POPULAR REBASE PROJECTS
AMPL: It's the biggest rebase project in the crypto world. It depends on Chainlink oracle price feed to decide her market price. It targeted price is $1.009 and it rebases occurs every day by 2am UTC.

REB: Already listed on Uniswap and pegged to $1, it rebases every 12hrs, first on 9am and later at 9pm both CET.

Yam Finance (YAM): It’s a DeFi projects pegged to $1. It rebases once the price is above or below a dollar.

BASED: Popularly called "DeFi game of chicken," it is also pegged to $1 sUSD. It also rebase once the pegged price changed.

Xplosive Ethereum (xETH): It price was collateralized to the price of Ethereum.

RMPL: It utilizes randomized rebasing. It rebases within 48hrs, however on average, it happens every 24hrs and target $1. Rebases start once RMPL price is above $1.05 or beneath $0.95.

ROAD MAP

TEAM

PARTNERSHIP

CONCLUSION
Undoubtedly, if the idea of rebasing flourishes, we may see an entire re-evaluation of the tokenomics of numerous projects. Base protocol may become the indomitable leader of the new decentralized finance world. Holders of BASE, hold everything.

Useful links to the project:
Website : https://www.baseprotocol.org/
Whitepaper : https://drive.google.com/file/d/1O9V4vjygGmno90NAXSDtj9IwZAelZCsj/view
Twitter : https://twitter.com/baseprotocol
Telegram : https://t.me/baseprotocol
PreSale Aplication : https://www.baseprotocol.org/presale
DisCord : https://discord.gg/rsPCcYV
Medium : https://medium.com/@BaseProtocol
YouTube : https://www.youtube.com/channel/UCfiacHaKd98kNLSRbc-4qnw

AUTHOR
Bitcointalk Username: Alaho15
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=2513944
Eth Wallet Address: 0x9c7bc4c6ee21074c2F4471F8C80a8BeaeF91212C