[Altcoin Thread]
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The #Crypto hype is making widespread news in all corners of the world.

I thought that It would be nice to provide you some nice threads now and then. As I've not been very active

Starting off with my first thread I will be diving into @BaseProtocol

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$BASE is a #DeFi that functions as a one-stop trading instrument.

@BaseProtocol allow their holders to speculate on the entire #cryptocurrency industry as a whole by pegging their base token tot the total market cap.

With a ratio of 1:1 trillion.

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The best example is stated on their website:

If the crypto market cap is $450B, $BASE is pegged to $0.45
If the crypto market cap is $800B, $BASE is pegged to $0.80

Investors can easily diversify their portfolio with little to no knowledge with $BASE

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@BaseProtocol is an #opensource platform that is active on the #GitHub repository. This allows users to look at the code as transparent as possible.

$BASE is built with many functionalities

Synthetic
Elastic
Rebase
Cascade

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$BASE's artificiality lays in its engineering. It simulates the market patterns of its underlying asset – hence, all #cryptocurrencies. Thus, giving their users the opportunity to speculate on the entire market as said before.

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The “elastic” part in $BASE is the supply protocol, tokens achieve target market-clearing prices. But when this is out of proportion, the token supply is adjusted, exercising rebase.

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#Rebases are formed due to the relation between supply expansion and contraction.

Expansion of market creates new supply, decreasing the scarcity and driving the price down.
Contrastingly contraction destroys the supply, increasing scarcity and driving the price up.

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The #Cascade functionality of $BASE allows users to buy $BASE on @UniswapProtocol's Liquidity pools.

Users who #stake $BASE in the #Liquidity pool will be given rewards. The more liquidity provided, and the longer, the higher the share of the pool they will be receiving.

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Thank you for reading my thread.

I hope you enjoyed it

I wish you the best trading opportunities in 2021!

make it green

Take care