INTRODUCING BASE PROTOCOL, IT'S TOKEN & UNDERSTANDING REBASING

Base is a token which is pegged to the marketcap of all cryptocurrencies by pegging the price of base to the market cap of all cryptocurrencies, users basically now have the ability to speculate on the entire cryptocurrency industry all with one token, the price of base is pegged to the total crypto market cap at the ratio of 1:1 trillion, this means that if the crypto marketcap is 500 billion then the price of base Should be 50 cents
and if total crypto marketcap is 900 billion then the price of base Should be 90 cents in a much more simpler term it's basically acts as an index for the entire crypto-space am sure quite alot of people know Nasdac & Smp500 but base seems to have a far more reaching effect on the entire crypto-space. For example a novice who wants to get started in crypto investing but is totally not aware of the right token to buy, arriving at a decision at this point can be very difficult, base takes out not just this difficulty but also any basis for guess work by giving the novice a full-time access to the entire crypto-space with just one cryptocurrency, base will also be very useful institutional investors who will always like to hold very diversified portfolios within different sectors like finance, transport, energy, real estate, technology and blue Chip crypto-holdings.

The truth is that most institutional investors cannot operate without diversification and so with base token this institutional investors get an objectively more diversified alternative to just holding BTC or some altcoins. Base token is basically the one token that gives access to everything there's to the crypto-space, you hold base token you hold everything. As a crypto enthusiast with profound experience there are times when coming to a conclusion on which crypto asset is the best becomes difficult but the underlying collective believe is that the crypto industry will definitely grow and do well in the future this exactly what base those for you, it's gives you the ability to share in this underlying collective believe.

THE CONCEPT OF REBASING

Rebasing basically has to do with how the base token is pegged to the crypto marketcap, rebasing is a powerful Innovation that most projects yet to fully explore, most projects just facilitate DeFi money games that don't add or create any fundamental value. No doubt there are already existing pioneer rebasing projects like

 Xplosive ethereum (xETH) a token whose price is pegged to the price of ethereum.

 Yam finance ( YAM) a memecoin that has its tentacles spread around maximizing APYs based on a dollar peg. (BASED) based money this a unique game of chicken also based on a dollar peg.

This projects looks quite exciting from a distance but a closer look will make you realize that pegging to a dollar is not so exciting use case because there are already existing stablecoins like DAI, USDT, USDC etc and the value creation potential is low. Even pegging it to other contemporary crypto assets like ethereum also creates little or no value because a trader/investor would rather prefer to just buy ethereum from an exchange.

The (AMPL) Ampleforth is the only popular project that has high value use cases although it has a number of weaknesses. AMPL is no doubt the originator of rebasing, it's creating a new spin on an existing asset class but it's not creating a truly new asset class, because it creates inflated adjusted dollar based on US CPI data, it's activities are solely reliant on data from the centralized US government, this is a big turn off for most crypto enthusiast wanting to operate independently from the government. Also why use dollar peg when we're fronting for crypto adoption ? That's another turn-off. Despite this deficiencies we've seen an astronomical growth of the AMPL to a marketcap of $700M that eventually slowed down after (AMPL) Ampleforth reached it a popular exposure level.
Just imagine the lofty height attained by AMPL despite it's romance with dollar (fiat) and then imagine if a similar system with upgrade operates with a cryptocurrency?

CONCLUSION
Base token is nowhere at par with erstwhile rebasing projects like Ampleforth, Yam and xETH, it's innovations and use cases surpasses all the above mentioned. The base Protocol team gives credit to AMPL Ampleforth as the pioneer of rebasing services but it's still doesn't mean it won't give the true picture of the transitions and improvements that Base token is offering.

RESOURCEFUL LINK

Website: https://www.baseprotocol.org/
Twitter: https://twitter.com/baseprotocol
Telegram: https://t.me/baseprotocol
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5283589.0
Medium: https://medium.com/@BaseProtocol

Btt username: Ajprotocol
Btt profile link: https://bitcointalk.org/index.php?action=profile;u=2539305