2022 in Review — Based Labs

Entering 2023, all of us here at Based Labs would like to summarize our journey through 2022 and thank all our BASED community.

Happy New Year!

2022 Accomplishments:

⦁ 02/2022 — Launch of Based Finance on FTM
⦁ 02/2022 — Multi-Yield — $BSHARE rewards TriCrypto Curve pool
⦁ 03/2022 — Launch of Monster Zappers
⦁ 04/2022 — Launch of Parthenon
⦁ 05/2022 — Launch of Katastima
⦁ 07/2022 — $BSHARE emissions successfully finished (50,000 in circulation now)
⦁ 07/2022 — Launch of Based Next Gen protocol on FTM
⦁ 07/2022 — Prometheus NFT collection public mint opened
⦁ 08/2022 — Hybrid Farming pools launched
⦁ 08/2022 — Infinite Printer with flexable mechanics launched
⦁ 08//2022 — OTC engine upgrade with more functionality
⦁ 09/2022 — Twisted Nodes launched
⦁ 09/2022 — Omniportal upgraded
⦁ 11/2022 — NFT Mint closed
⦁ 11/2022 — Based Dex launched
⦁ 11/2022 — Dead Pools launched
⦁ 12/2022 — Autocompounders launch on both protocols
⦁ 12/2022 — Repegging of $BASED to FTM
⦁ 12/2022 — Footprints live on Omniportal(multi — chain support)

2022, it was an insane ride to say the least. We have seen the explosive power of DeFi and community support during the very end of a bull run, and we also have seen the other side as well (stay BASED in bear and build).

So far, our Based Finance protocol is at epoch 1300 — this is the most accurate age parameter since $BSHARE emissions finished quite some time ago.

Based Next Generation protocol is at epoch 146 (infinite print in play).
We have been developing and learning through trial and error this whole time, and we all agree we are extremely satisfied with the results — no hacks, no security issues even though we had massive amount of FUD and false accusations throughout our socials.

It is a rough time to be in DeFi at the moment, but it can also be very rewarding as we have seen before (hence, stay BASED in bear and build).

We want to mention also that we will very soon be deploying Exploder along with Volume Driver contracts to boost volume on our DEX & provide some new opportunities for investors whilst stabilizing and increasing liquidity on our ecosystem assets.

Exploder will allow our investors to participate in weekly raffles of BSHARE-FTM, SMELT-FTM liquidity that comes from burn accelerator, thus driving more interest to creating and locking liquidity for certain periods of time.

Volume Driver on the other hand will provide constant buy force on $BASED in exchange for burn accelerator LPs made through our boiler room contract!

More details will be posted regarding both modules.

Based Next Gen is built differently, $OBOL is not pegged meaning its price reflects current market demand (we are holding supply from expanding while there is no demand), this being said, $OBOL will be used as payment for all bridging and fees for Exploder participation giving it extra utility.

Our Omniportal upgrade already gave you some clues on our next steps and future plans, but we’d like to share some clear points on our expansion plans.

We will be deploying protocols, most likely facilitating and helping partners on other chains, by doing this we will:

⦁ Effectively reduce supply of $BASED to 10 million or under
⦁ Drive demand to $BASED tokens that will be bridged out of FTM 
⦁ Drive strong buying force to $OBOL with increased bridge activity and protocol inclusion
⦁ Opening FTM gates to investors from other chains without the need of bridging to FTM!
⦁ Utilizing footprints on multiple chains simultaneously

Driving all mechanics that we have built and connecting the dots.

We want to thank you, our very BASED family for your continued support and especially to those who have been with us from the beginning. 
10 months in crypto, with the rise and fall of so many protocols, feels like a decade.

To conclude this small announcement and year overview we are happy to announce a historical burn of 1 million $BASED tokens to make it to 50% of our supply from initial numbers!!!

We are very excited looking forward for our community, our protocols, partners and all that is to come throughout 2023.

As always, stay tuned to the socials to keep up to date, like & share to help spread the news. Socials & links here: https://linktube.com/basedlabs

Psst… more supremely #BASEDNEWS coming soon…