Based Friday | 16th July 2022 | Update 16

Hello Based Community!

Happy Based Friday!

Here is a brief explainer regarding our upcoming launches:

NFT Minting Details

Minting date: 20th July

Minting cost: 500 USD equivalent in $BBOND — collection size of Prometheus NFTs will strongly depend on MarketCap of $BASED and $BBOND.

Our goal is to burn almost all circulating supply of $BASED through $BBOND.
The primary detail is amount of available $BBONDs will depend on circulating supply of $BASED — therefore this is an intentional slow mint.

This strategy will help us regulate mint speed and support constant burning of $BASED.

NFTs will be start earning yields on July 24th as soon as Genesis Pools kick in!

There will be no deposit fees for NFTs in genesis or main reward pools.

Check out our dashboard for your Omnichain NFTs — — NFT PRICE, NFT COLLECTION SIZE ARE FOR TEST MINTS ONLY….

BSHARE Redemption

BSHARE alone has utility in Acropolis of BasedFinance V1 since $BSHARE prints $BASED which will be used for future mints.

BSHARE-FTM LP holders will be able to swap their LP tokens to new SHARE token at rate 10:1 (10 BSHARE — 1 New SHARE token) — this will eliminate any price speculations on BSHARE toward end of emissions.

Genesis for V2

Genesis V2 will Launch on July 24th!!! — and will last 10 days.

Native pools will have no Deposit Fees (pools for NFTs, New Share Token).
We might have non-native pools, if so, these will have deposit fee of 1%.

NFT pool will have an ROI of 12% minimum over 10 days of farming genesis. (1.2% daily)

Genesis pool smart contract is undergoing final rigorous testing stages before being deployed!

New Native Token of Based Finance V2 will have interesting mechanics and will surely surprise some of our community:

New Share token will be printing regardless of market conditions, price of farm token, weather conditions or whether the Sun is in the sign of Leo!

We are bringing calculated mechanics into the protocol to keep both tokens in check and balanced…

More specific details on Tokenomics of new tokens will be released in our Docs for Based Finance V2.

Rest assured Based Labs future ventures will continue to provide value for Based Finance while NFTs will continue to have additional value in future protocols as well. It’s a Win/Win for Based Community & investors.

Stay connected with Based Labs to be on top of new protocols on new chains.

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