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Based Friday March 11th 2022 Update 2

Based Friday March 11th 2022 Update 2

Hello Based Community!

Welcome to our SECOND weekly news event: #BASEDFRIDAY.

In light of the recent events that happened within the DeFi developer space, we wanted to reassure our community: We are here to stay. Our partnership with Tomb continues to grow. We take extreme pride in our developments and are building everyday. We’re thrilled to be contributing to the robust DeFi ecosystem while it begins to spread its wings into new heights. We wish Andre Cronje all the best. We have no intentions to be anywhere besides right here with you all, building. We have some awesome things planned. We’re working to build a truly amazing and reliable suite of tools to allow for yield generation and other awesome innovations. We appreciate your patience and support while we work our way through these developments. We would be nothing without you, our Based Community!

Recently, we’ve recently hit some awesome milestones as a protocol:

  • ● Completed 100 epochs
  • ● $BASED reached peg, went below peg, and recovered
  • ● Some BONDs were bought via contract as UI had minor issues
  • ● Bond page UI issue was fixed & BONDs were redeemed
  • ● Based went live on Tarot Requiem

With little surprise, Based’s peg has remained very stable. Although it has only been a month, we’re excited to be closer to the actual peg. This will allow for a more stable yield generating experience from here on out as well as allow for us to open up more partnerships and functionalities for BASED + BSHARE!

Now for the news:

We have many partnerships that are either live or going to be soon!

TombSwap LPs:

The partnership between Based Finance and Tomb Finance is heating up! TOMB and BASED are finalizing LPs with rewards to stake that will be launched soon. We are collaborating closely and testing these LPs and once they are ready, we will announce them with a launch date. This will be coming very soon!

Based on Solidly/Solidex/OxD:

Based-Tomb LP will now be available on Solidly! Solidex functions as the UI, while the backend smart contracts are Solidly. Thanks to our partner Tomb Finance, we’re looking to get these pools incentivized.

Tarot Lending/Borrowing:

Tarot is a decentralized lending/borrowing protocol that allows you to leverage your LP position. With this, you will be able to use your BASED in even more unique ways to increase your yield exposure.

Zap-In Contracts:

Although we ran into some bumps and had to delay the use of Zap-In contracts, we’re excited to be finally bringing them to you guys. We’re making sure these are 100% safe and functional before going live and are under audit review currently. They’re being rigorously tested right now and will be live shortly!

Roadmap:

We know all of you have been eagerly waiting to know what is brewing behind the scenes. We would like to share a sneak peek into our roadmap tomorrow once Hephaestus works his magic.

Introducing BASED FINANCE’s YouTube competition:

RULES:

  • Video must be about Based Finance, content could include: why one should invest in based, explanations of all functions, your experience with the based community/team (can say what you want as long as it is about Based Finance)
  • Video must be at LEAST 3 minutes (180 seconds) long
  • You cannot bot views/comments, our team will disqualify you immediately
  • Videos must be in ENGLISH only

HOW THE WINNERS WILL BE DECIDED:

  • Chads and Core Team will vote on the TWO best videos produced by the community
  • Views, Likes, Comment count is not too relevant — although if there is significant REAL engagement with your video, this will help
  • You may post your links in the ‘Youtube Content’ channel in the Based Finance discord server.

TIME FRAME:

  • 6 DAYS From this announcement — Winners will be announced in next weeks Based Friday (18th March)

PRIZES:

  • 4K$ USDC & 500 $BASED for EACH Winner ( 2 WINNERS TOTAL )

Disclaimer: users must have invested in Based at some point since launch — we will require proof.

The winners for the previous giveaway are being contacted right now for verification. We will be launching a fresh community content initiative soon, please await more details.

We would like to take this opportunity to extend our thanks to our Based Community & the Tomb Finance team including Harry Yeh, Vinh Q. Vuong, and all the moderators from Tomb who have been supporting us throughout this journey.

Lastly, $TOMB on and Stay $BASED!

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