Basis Cash
Basis Cash is an algorithm based stablecoin protocol derived from the Basis protocol. There are 3 kinds of assets in the Basis Cash. Basis Cash(BAC): a stablecoin which the protocol aims to keep value-pegged to 1 US Dollar. Basis Bonds(BAB): IOUs issued by the system to buy back Basis Cash when price(BAC) < $1. Bonds are sold at a meaningful discount to price(BAC), and redeemed at $1 when price(BAC) normalizes to $1. Basis Shares(BAS): receives surplus seigniorage (seigniorage left remaining after all the bonds have been redeemed).
Basis Cash is an algorithm based stablecoin protocol derived from the Basis protocol. There are 3 kinds of assets in the Basis Cash. Basis Cash(BAC): a stablecoin which the protocol aims to keep value-pegged to 1 US Dollar. Basis Bonds(BAB): IOUs issued by the system to buy back Basis Cash when price(BAC) < $1. Bonds are sold at a meaningful discount to price(BAC), and redeemed at $1 when price(BAC) normalizes to $1. Basis Shares(BAS): receives surplus seigniorage (seigniorage left remaining after all the bonds have been redeemed).
