Token Distribution
The protocol starts with a Basis Share supply of zero, the entire supply minted purely via community distribution.
Initial distribution of Basis Cash are done to those that deposit DAI (MCD), yCRV, USDT, SUSD, and USDC to the distribution contract. A total of 50,000 Basis Cash tokens are distributed to depositors, with 10,000 Cash tokens distributed per day. Tokens are assigned equally to each stablecoin pools, and the amount of stablecoin deposits are limited to 20,000 tokens per account.
Afterwards, a total of 750,000 Basis Shares are distributed to those that provide liquidity to the BAC-DAI Uniswap v2 pair, where users can deposit BAC and DAI tokens to the distribution contract and earn BAS tokens. Distribution starts with 6250 BAS distributed every day, and the amount of daily seigniorage is reduced to 75% every 30 days (e.g. 4687.5 BAS daily distribution starting from the 31st day).
Further distribution of Basis Shares are given to liquidity providers of the BAS-DAI Uniswap v2 pair. A total of 250,000 Basis Shares are distributed over a period of 1 year, and an equal amount of tokens are distributed per day.
Last modified 2yr ago