The BASIS token launch

TL;DR:

  • basis.markets is launching the BASIS token to unlock the potential to scale the basis.markets 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 ido.basis.markets
  • 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 basis.markets 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 basis.markets community

Click for full size
Click for full size

What’s coming next

Click for full size

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
Click for full size

Tokenomics

Click for full size
  • 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%
Click for full size

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

Timeline

Click for full size

The Timing of the token sale

Auction details

Staking programme

Click for full size

What’s on the roadmap?

Click for full size
Click for full size
Click for full size

Where next?

Appendix 1: Our protocol universe

Click for full size

--

--

--

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

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

AMA Recap of Dude’s Army x TribeOne

THE LONG AWAITED REVOLUTIONARY CRYPTO FUTURES EXCHANGE GOES LIVE!

1st Creative Competition for NFT Creators

ADAX is an automated liquidity protocol that facilitates trades within the Cardano ecosystem in a…

Some finishing touches for private sale, Public sale on the road …

Nereus Finance Updates — NXUSD, NFT, & Updated WXT Reward Point Allocation

Story behind Decentralized xUSD-DAI LP on Kyber Network

Is it possible to build a balanced crypto portfolio?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
basis.markets

basis.markets

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

More from Medium

Market Update: 9 Jan 2022

Anchor Protocol $ANC: Better Savings With Crypto

Ethereum hash rate scores new ATH as PoS migration underway

Ethereum hash rate scores new ATH as PoS migration underway

Another narrative to consider for Bitcoin — $BTC as a collectible.