Base Protocol: The Entire Crypto Market Captured in One Token

Elastic supply tokens recently stormed the blockchain space by surprise, carving a new niche for itself by further extending the frontiers of decentralized finance, shortened as DeFi. These innovative tokens are coded to automatically rebase at particular times. That is, the protocol powering these price-elastic tokens automatically triggers increase or decrease in the total token supply in response to market demand. The primary purpose of price-elastic tokens is to speculate on the price of the underlying crypto asset in a trustless environment.

Interesting right?

However, this field of DeFi is still emerging and allows for new innovations. For instance, existing elastic supply tokens are tied to another crypto asset. Like a synthetic asset, they track the price of another token, also inheriting and mimicking the inherent limitations of that token, especially price volatility. Not until now was there any token that can be used to speculate the entire crypto market cap without involving any central authority.

A new surging project, BASE Protocol, is breaking that limitation by innovatively consolidating the whole crypto market in a single token - BASE token, the synthetic crypto of all other cryptocurrencies.

What is this Base Protocol?

Base Protocol is a DeFi technology that tracks the performance of the entire cryptocurrency market through BASE token, the first crypto industry index in the world pegged to the total crypto market. BASE can be imagined as the first and only S&P 500 of the crypto industry. BASE is an ERC-20 token, and it is compatible with any reputable ERC-20 wallet.

The protocol operates on a rebasing algorithm that smoothens the total supply of BASE via expansion and contraction. This mechanism keeps the total supply of BASE dynamically elastic.

BASE provides a unique use case for rebase mechanism, serving as a one-stop trading and investment vehicle for everyone to freely benefit from the performance of the whole crypto market in a secure, permissionless, and trustless way. The algorithm adjusts the total supply of BASE to achieve an balance between the market price and target price of BASE token. Pegged at a trillionth fraction of the total crypto market cap, the BASE smart contract adjusts the total token supply periodically to reflect the target price sourced from Chainlink decentralized data feed.

What Can You do with of BASE Token?

BASE appears to have created new use cases for rebasing token. Let's consider some of these utilities:

Speculate on the entire crypto market
BASE, by default, serves as a Crypto Index that can be used to speculate the entire cryptocurrency market. Outsiders who don't know what crypto to invest in can purchase BASE to benefit from the performance of the entire cryptocurrency market.

Reliable crypto investment vehicle
By virtue of its elastic token supply mechanism, BASE is a volatility dampened cryptoasset, protecting investors against erratic market movements.

Use as a Collateral Asset
BASE token can be utilized as a strategic collateral asset for crypto-based leverage trading. Its underlying rebasing mechanism makes it an excellent fit for use. In tune with this feature, PlasmaPay is offering BASE as a borrowable asset on its first lending platform.

Trade and Farm BASE
BASE avails traders a unique trading instrument whose price moves with that of the total crypto market cap. BASE is currently listed for trading on Uniswap.

The Cascade is a unique and lucrative opportunity for liquidity providers and BASE HODLers to farm BASE and passively earn lucrative rewards, both BASE and LP fees. LP share of pool reward increases with the length of duration of staking.

BASE Protocol Industry Partnership
Base Protocol has partnered with a number of top crypto projects to build, extend, and accelerate the capacity of the project. Some of their partners include Chainlink, PlasmaPay, and Master Ventures.

Security is very paramount to Base Protocol. Therefore, HalbornSecurity, a top profile cybersecurity firm, has completed the BASE token smart contract audit, and it is certified safe.

Conclusion
The concept of Base Protocol is unique and offers a great opportunity for everyone, whether outsiders or retail crypto investors, to diversify their crypto portfolio with a single token - BASE. The successful launch of the project and its run of excellent performance has demonstrated that Base Protocol is well positioned to open up a new frontiers of decentralized finance.

USEFUL LINKS
🌐 Official 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
📺 https://www.youtube.com/channel/UCfiacHaKd98kNLSRbc-4qnw

Writer's Information
Bitcointalk Username: Ebullientfellow
BTT Proof of Authentication: https://bitcointalk.org/index.php?topic=5284450.msg55658573#msg55658573
Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2646515