Base Protocol: A safe haven between cryptocurrency transactions.

4 min readDec 3, 2020

The cryptocurrency market in the last few years has clearly seen tremendous growth. October 5, 2009, for the first time the value of Bitcoin was fixed on an exchange, starting at 1 USD equal to 1,309.03 Bitcoin (or 1 Bitcoin = 0.00076 USD). This value is calculated by how much electricity costs a computer money to mine Bitcoin. As of the time of this writing, 1 Bitcoin = $ 19,105. As such, we can clearly see the future of cryptocurrencies, but not everyone knows how to invest cryptocurrencies effectively. Today, I will introduce to you a very promising project — Base Protocol

About

“Base Protocol (BASE) is a token whose price is pegged to the total market cap of all cryptocurrencies at a ratio of 1 : 1 trillion. BASE allows traders to speculate on the entire crypto industry with one token.”

It is a token that allows users to invest in the cryptocurrency market without having to buy multiple assets. With enough BASE tokens, users can speculate on the entire crypto industry simultaneously, easily, and quickly.

The Base Protocol utilizes an elastic supply protocol, which allows for rebasing, a process that expands or contracts token supply to the correct price.

Usecases

Base Protocol may be a decentralized open-source protocol supported Ethereum. Further added its protocol are often modified within the future as per needed. Base Protocol act as a useful trading tool needed for each crypto enthusiast to take a position on the whole crypto market directly instead of just looking token one by one. Base protocol also allows investors to trade Base token with other pairs giving them highest profit and best risk management system compared to other cryptocurrencies. for eg if the MBP increases (Condition 2) then the trader can take profit if he acts quickly during this period before MBP falls right down to TP. Same goes for the decrease in MBP. Coming to risk minimizing it’s better to carry an asset which supports cmc of all cryptocurrencies instead of only one . for eg if you hold one coin say BTC; then you’ll lose huge amount on the downfall of its price. But trading into Base it mitigates the inherent risk of holding one coin while absorbing the potential gains of several others. the bottom protocol also supports the lending program and has the interface same the feature of Uniswap for integrating automated market making and providing liquidity referred to as cascading. Thus it helps to seek out buyers and seller instantly at an equivalent time, people can provide liquidity pool with the asset they like and gain extra income. The more the asset he provides the more he gains and the other way around .

Token

Name: BASE token
Total token supply: 8,795,645 BASE
Initial Circulating Supply : 1,313,785 BASE
Initial Market Cap at List Price : ~$725k
Initial Liquidity : $160k ETH + $160k BASE

Why choose BASE?

There is no uncertainty that crypto industry ETFs are going to be the go-to item for speculators. After all, it had been trying to form such an item through the standard methods, because it would be difficult to oversee the portfolio’s responsibilities for resources. How do portfolio directors measure responsibility for resources because the dominance of market capitalisation changes? How might they represent recently entered / exited resources? Who may collect all associated exchange and custodial fees? There also are other legal restrictions that limit the arrangement of such an instrument in many countries and no matter whether it might be framed it might be a really unified item. By essentially setting a fee on absolutely the market capitalisation of all digital currencies, the essential Protocol addresses this problem. BASE provides holders with an equivalent capacity as a standard industrial ETF without the general difficulties put together that might make such an ETF unthinkable. BASE will offer new incentives to speculators within the biological system of digital money through a really important and fundamental direct convention. This task couldn’t be completed without a robust decentralized blockchain, demonstrating a mixture of prophets, and new advances within the DeFi space. We established a Basic Protocol to increase this development and make a BASE; one tokenized resource that talks to the idea of all digital currencies.

Conclusion

From what I see, this project has come a long way to prove itself. Base protocol is an innovative project. This project has a very unique and hardworking team. So I am sure for the success of this project. The project is developing rapidly. I am really impressed by this project and the teamwork. This project has great plans for the future. I believe it also deserves attention. I hope everyone will make a good profit. The base protocol is not the meme. It is not a game that focuses on money. And it creates a truly innovative and new asset class that no competitor currently has.