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Based Friday | 20th May 2022 | Update 12

Based Friday | 20th May 2022 | Update 12

Hello Based Community!

Congratulations to everyone who is still with us as we cross this himalayan milestone of 400 epochs. A few months back a group of degen traders came together to make this Tomb Fork never realising the crushing fact that we were launching in the worst of times. It has been an uphill battle as crypto in general & fantom chain especially took multiple beatings. The team is happy to say that, with the help of Tomb, we are almost in the final laps of our journey.

Latest NEWS

Here are some of the latest coverage we got in some leading & known news entities. Please share it across the crypto world.

Bloomberg — $BASED to Power a New Decentralized Marketplace for Goods and Services — Bloomberg

Nasdaq — $BASED to Power a New Decentralized Marketplace for Goods and Services | Nasdaq

Yahoo — $BASED to Power a New Decentralized Marketplace for Goods and Services (yahoo.com)

Marketwatch — $BASED to Power a New Decentralized Marketplace for Goods and Services — MarketWatch

Benzinga — $BASED to Power a New Decentralized Marketplace for Goods and Services — Benzinga

Digital Journal — $BASED to Power a New Decentralized Marketplace for Goods and Services — Digital Journal

Divine Olympians Update

Our second artist Amiel has completed his commission and delivered the art content for Hercules along with the generative traits for the nft. We have Prometheus & Hercules completed in 2 variants. One OG version which will be minted for the team & one generative version for the community & public. We will be running some whitelisting campaigns as we edge closer to mint dates. CHADs from our community would be whitelisted by default.

The technology Pod Town has used for the NFT is LayerZero & we may have a delay in getting code audited as the LayerZero technology codebase is yet to be audited.

Felix Update

After running through a few initial Based Fridays we have realised that Fridays are not really a good day to announce things. Most collaborative news tends to break on a Monday or, wait for it, a Tuesday. Those of you who are already on Felix should be able to see what is coming next week.

Katastima OTC going live

Our OTC feature, Katastima, will be live during the weekend but would not be funded in view of the current market conditions. When peg is strong, larger volume transactions can now occur without any loss in slippage or fees. If the peg is stronger, there are also means to facilitate discounts to large volume buyers. Ofcourse, we will follow due diligence when enabling this feature depending on the market.

Team Restructuring is complete

Last week we announced the creation of a core team to facilitate our partnership with Tomb Finance. Moving forward the core team will consist of Athena, Calypso, Daedalus, Kratos, Ares, Hercules, Helios & Erebus. The rest of the team will remain as respected founders, STATER beneficiaries & would continue to support the protocol as they can. The mandatory exposure of the rest of the team has been absorbed by the treasury in order to negate any market impact.

The team has worked tirelessly behind the scenes to create a healthy extended Tomb-Based-Ftm ecosystem. Remember this line from the opening paragraph — ‘The team is happy to say that, with the help of Tomb, we are almost in the final laps of our journey.’. Time to be excited about the next phase for Based Finance, this Tuesday, we pivot in a new direction with renewed vigor & new opportunities for both the protocol & its community.

Seriously, $TOMB on and Stay $BASED! Or shall we say Stay BASED V2.

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