Basis Cash is an open-source, permissionless algorithmic stablecoin.

The Basis Cash protocol aims to revive the original vision of basis.io, initially released as a lightweight implementation on the Ethereum blockchain.

BAC - Basis Cash

Basis Cash tokens are designed to be used as a medium of exchange. The built-in stability mechanism expands and contracts their supply, maintaining their peg to the MakerDAO Multi-Collateral Dai token (which roughly trades near the United States Dollar).

BAB - Basis Bonds

Basis Bonds are minted and redeemed to incentivize changes in the Basis Cash supply. Bonds are always on sale to Basis Cash holders, although purchases are expected to be made at a price below 1 Basis Cash. At any given time, holders are able to exchange their bonds to Basis Cash tokens in the Basis Cash Treasury. Upon redemption, they are able to convert 1 Basis Bond to 1 Basis Cash, earning them a premium on their previous bond purchases.

Contrary to Basis Bonds of basis.io, bonds in Basis Cash do not have expiration dates. All holders are able to convert their bonds to Basis Cash tokens, as long as the Treasury has a positive BAC balance.

BAS - Basis Shares

Basis Shares loosely represent the value of the Basis Cash network. Increased demand for Basis Cash results in new Basis Cash tokens to be minted and distributed to Basis Share holders, provided that the Treasury is sufficiently full.

Holders of Basis Share tokens can claim a pro-rata share of Basis Cash tokens accumulated to the Boardroom contract.

Basis Share is one of three tokens that play a starring role in the Basis Cash ecosystem. It was launched in late 2020 with the aim of creating a decentralized algorithmic stablecoin for the DeFi space. BAS is an ownership token that receives inflationary rewards from Basis Cash and its value is directly linked to the increasing adoption of BAC.

Basis Shares and Basis Bonds are used to maintain the price of Basis Cash at $1. If the price falls below $1, bonds can be purchased at a discount and redeemed on a 1:1 basis once the price exceeds $1.

If BAC remains above $1 after bond redemption, new BAC tokens are minted and distributed to Basis Share holders.

Basis Share, along with other tokens in the ecosystem, was launched by two anonymous individuals known as "Rick" and "Morty". During an AMA session in January 2021, "Morty" mentioned plans to expand the team to fill technical positions related to integrations and applications.

Basis Share stands out because it emerged from the remnants of a project called Basecoin, which raised $133 million in an ICO before returning the funds to investors due to regulatory issues. Unlike traditional stablecoins collateralized by assets, Basis Cash is not backed by any specific asset such as gold, dollars, or other cryptocurrencies.

Basis Share's main objectives include fair distribution of the Basis Cash stablecoin and resistance to censorship.

A total of one million BAS coins have been created and are being distributed to two liquidity pools on Uniswap in a 75/25 split. BAS is considered a long position on the entire protocol, in contrast to Basis Bonds which function as fixed yield products. The number of BAC in circulation will depend on overall supply and demand.

Basis Share is available on several markets. Uniswap offers a DAI/BAS trading pair, while BAS/USDT pairs can be found on MXC.COM, Hoo, and BKEx. Uniswap is currently the most liquid market. To learn more about converting fiat currencies into crypto, click here.