Based Friday April 22nd 2022 Update 8
Hello Based Community!
We want to start off by thanking our amazing community for staying BASED and helping defend the peg. We are quite proud to have continued to hold our peg consistently steady — given the volatile market conditions lately. We also want to congratulate our partners at Tomb Finance on the launch of their Tomb Chain Mainnet! This will be a game-changer and a very important piece of the larger Tomb + Based ecosystem, along with the Fantom ecosystem.
Project Milestones Reached
New Project Milestones:
● We reached epoch 290!
● 22M $BASED in circulation
● 22K $BSHARE in circulation (79% in the Acropolis)
Protocol GODS — Reveal!
We know all of you have been patiently waiting for the details on Protocol GODS. Based Finance is proud to partner with the team at Pod Town to bring out a fresh NFT marketplace on FTM chain. Protocol GODS will be the very first NFT minted & made tradeable on this new NFT marketplace. People will be able to use $BASED to mint, buy & sell NFTs on the marketplace.
GODS NFT will be a Utility NFT where the community will be able to mint a unique artwork created by a renowned artist which will also give them 0.01 STATER. We will be doing the pilot mint with Titan God of Fire, Prometheus whom we have assigned to Tomb DAO & to all of those who support the Based Team.
For Prometheus NFT, we are working with Arkin Tyagi, an extremely talented & well known artist in NFT circles.
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Instagram arkin tyagi (@_artkin_) • Instagram photos and videos Artstation ArtStation — Arkin Tyagi
Behance arkin tyagi on Behance
Twitter artkin (@ArkinTyagi) / Twitter
His nft project DeusX (deusxnft.com)
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Owning STATER means owning a portion of the entire BASED ecosystem & the NFT marketplace will bring Utility to $BASED token as well.
We expect to have the Prometheus mint by mid May. Depending on how the community responds to the first mint, we will proceed with sequentially releasing new GODS nfts.
One special fact about our NFT standard is that it will be OmniChain, thanks to the Based team at Pod Town.
Bond TWAP Guide
Hephaestus has put together a guide for the community on how to best take advantage of the $BBOND system to support the peg and earn some profit.
We are saddened to announce that one of our core team members, Anesia, is no longer on the Based Finance team due to personal matters. We would like to ask the community to respect her privacy and respect her decision. We wish Anesia the very best and that she will always be a member of our community and family.
Thank you, Anesia, for everything you’ve done for Based Finance and that we, along with the community, are with you and support you.
Please note that there are absolutely no ill-feelings or conflict with Anesia nor amongst the Based Finance team. We wanted to make that very clear.
Going forward there is nothing that will be different as we have already made necessary changes to accommodate the change. Our team will be doing an AMA on 29th April in case the community has any concerns regarding this or anything related to Based
Thank you everyone for providing so many helpful suggestions for our profit-sharing feature in parthenon-suggestions. The team has gone through and compiled a list of ideas which are currently under consideration. Some of those are
● The deposit fees & the withdrawal lock will be reduced, altered or completely removed.
● UI will relay the APR from Beefy plus the additional rewards accrued
● Distribution would be weekly
● Depositors would be able to choose a fixed period to lock the LPs for increased yield.
Once again we would like to share our ecosystem guide.
Protocol Drachma is in its concept stage, expect to hear more from us in the upcoming weeks as we flesh out our ideas. Phase 2 of the Based Ecosystem is well under way and the utility for $BASED will continue to grow.
The team, treasury, community, and our partners are constantly working at keeping the peg close. Thanks again to everyone for the continued support.
Lastly, $TOMB on and Stay $BASED!