Hello BASED frens and fam! Quick summary of important announcements.
Be sure to stay tuned to our discord for instant updates. Updates covered:
- CREW3
- Based Next Gen Update
- $BASED on AVAX
CREW3!
We kicked off out #Crew3 sprint and will be doing regular quests.
Check it out & participate here: https://crew3.xyz/c/based
Based Next Gen Update
Boardroom UI is being pushed currently. APR, $OBOL per $SMELT, and $SMELTprice are going to be shown correctly. We did pass our boost epochs and entered a scheduled expansion which depends on current circulating supply of $OBOL. Please take a look at expansion % brackets for future references:
Although we did have a scheduled expansions up to 120, 000, 000 $OBOL in circulation, we believe it will be almost impossible to reach this supply since we introduced Boiler Room and levers to adjust emissions depending on market conditions. With existing tooling we will be able to boost APRs when market allows it and kick start positive movement for the protocol.
With current use cases starting to come to life — reaching next brackets on circulating supply will be even harder. Please look at following table that shows planned supply VS existing supply including burns:
$BASED on #AVAX!
Based Labs step by step launch process on AVAX:
We will mint 200K aBased on AVAX for initial liquidity positions.
We will send 200K Based into the Burn Accelerator to be burnt on FTM.
By the time Flair Defi launches — we should have LZ dev team review our bridge contracts for co-marketing purposes.
Please be aware that volatility on AVAX can be risky for you, price is going to differ from price on FTM, hence it will give good opportunity for arbitrage and consequently price stabilization.
We plan on having good bribes for our aBASED-FLDX pair and will add aBASED-AVAX pair later.
All OBOL used for bridging will also go into BOILER ROOM — expect our burners to kick it up a notch after AVAX launch!
aBASED will have no buy or sell tax on AVAX for ease of further integrations.
If anyone tries to call functions directly from a contract — you will lose your funds and there is absolutely no way you can recover your BASED.
All BASED bridged to AVAX is not bridgeable back to FTM, no exceptions. By design that functionality is not available.
After we mint initial aBASED that is going to be used for LP, we will transfer the operator rights to our minter that is controlled by a multisig.
In case anyone tries to manipulate the price of BASED on FTM using a flashloan or otherwise — you will LOSE YOUR FUNDS. Period.
Get ready and Stay BASED degens!!!
As always, give us some love on the socials and any questions please ask in Discord. All links here: https://basedlabs.anyside.com/