The BASIS token launch


  • is launching the BASIS token to unlock the potential to scale the Decentralised Basis Liquidity Pool to a higher TVL and at speed.
  • Trading fees from the future Liquidity Pool are modelled to reach up to $10m per month.
  • BASIS token holders will be entitled to their share of trading fees, proportionally to their BASIS holdings staked, as well as an attractive staking programme, and a discount on Liquidity Pool fees themselves.
  • Trading fee revenues are modelled at a conservative $35k per 100,000 BASIS over 3 years, excluding compounding or any token price growth, and paid in our non-inflationary, USDC-backed bmNOW token
  • The BASIS token will be launched in a customised dutch auction running from 8th — 11th December 2021. You can find the countdown at
  • Consistent with our seed funding round through Ownership NFTs, we are adopting a fair, decentralised approach with no presale, VC funding, or early owners.
  • Our auction mechanics are based on the open source model developed by Mango Markets and customised to avoid manipulation.

The story so far…

Our vision

  • Decentralised Basis Liquidity Pool (DBLP): A managed liquidity pool taking advantage of the high APRs offered by the Basis Trade Engine and other high-return, evergreen strategies on behalf of users, automating the process of executing these trades for investors.
  • Basis Trade Engine (BTE): A trade analysis platform scanning real-time data to highlight the highest return trades from across 15 exchanges, including basis trades, long & short trades, and more. We have launched the alpha version of the BTE on the 1st December, and are already collecting feedback and making improvements with suggestions from members.

What we’ve achieved

  • Core team identified and built
  • Top-tier developers recruited and onboarded
  • Trading strategies developed and tested
  • Sell-out seed round of Ownership NFTs (25x oversubscribed)
  • DAO community and voting mechanism launched
  • Basis Trade Engine alpha release

The community

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What’s coming next

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Introducing the BASIS token

Utility of the BASIS token

  • Trading fees: Passive income through fair allocation of fees generated by the Liquidity Pool(s) and paid in non-inflationary, dollar-pegged bmNOW tokens
  • Staking rewards: Early access to high staking rewards, paid in additional BASIS tokens, ahead of Ownership NFT holders
  • Future cash flows: Ability to speculate on the future value of trading fee rewards
  • Discounted investment: Tiered discount on Liquidity Pool trading fees
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  • Token sale: 25%
  • Ownership NFT holders: 50% (vested over 6–24 months)
  • Staking & liquidity rewards: 24% (vested over 12 months)
  • DAO contributors & seed liquidity: 1%
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Our philosophy & the bmNOW fee token

The BASIS token sale

Auction process

  • Price Discovery Period: 48 hours
  • Price Refinement Period: 24 hours

Our customised auction model

  • Limiting withdrawals to 50% of total capital deposited, meaning large players can’t deposit large amounts and then withdraw
  • Allowing additional deposits, meaning participants can add additional capital if the price falls to a level they would like to add additional capital


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The Timing of the token sale

Auction details

Staking programme

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What’s on the roadmap?

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Where next?

Appendix 1: Our protocol universe

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A decentralised liquidity pool owned by you, powered by our Basis Trade Engine. Next-level returns. Delta-neutral yield. Real-time insights.

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A decentralised liquidity pool owned by you, powered by our Basis Trade Engine. Next-level returns. Delta-neutral yield. Real-time insights.

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