Bas3r Protocol development idea.

Hello guys,

We will try to lay down our ideas about the development of the Bas3r protocol in this article. Keep in mind that these are just ideas and we would like to have full community support so that we can proceed with this. We will try to make it as clear as we can, but the ideas are complicated. The project development consists of a few steps, so please read the whole article to get a full understanding.
Thank you for taking part in this project, we appreciate your support and feedback.

Bringing a new closely connected project to the Bas3r ecosystem — Bas4r.

Bas4r will be a fork of our current project plus one additional function (ITS rebalance feature).
The rebalance function basically takes a small portion of the liquidity every 6 hours and market buys the token to increase the price over time.(Example: Every 6 hours anyone can call the rebalance function. When the function is called, the contract removes a small portion of the liquidity (1%). The contract now has 1ETH and 1000 Bas4r. It market buys Bas4r with that 1ETH. So there are now 2000 Bas4r and it burns this supply instantly).
There will be a small presale only for current tokens holders and this will result in an increase of the price as many people would be interested in joining the presale.

Bas4r project features:

  • Rebase mechanism — every 24 hours
    The rebase time frames of Bas3r and Bas4r will differ with 12 hours.
  • RFI tax rate of 1%
  • Liquidity incentive of 3%
    The percentage is this high because of the constant Rebalances trying to keep the liquidity up.
  • Rebalance function of 1% (Most likely every 6 hours)
    This will help both tokens to increase in price.

We can peg Bas4r to a different Index like DEFI(for example).

Presale

There will be a whitelist. Only current Bas3r holders will be able to participate.
50% of the allocation will be given to the top 50 holders.
40% of the allocation will be given to 40 random holders.
10% of the allocation will be given to 5 influencers (in order to bring more awareness to the project)
This will lead to an imminent increase in price. People will be highly interested in joining a small cap presale.

Option 1 (We believe this is the best option)

We will raise a small amount of money (50–100ETH).
The presale will be in ETH & Bas3r. It will be whitelisted as follows:
• 25–50eth in ETH
• 25–50eth in Bas3r
The Bas3r allocation will lead to more buying pressure.

In addition, we are releasing the following two pairs:

  • Bas4r/ETH — We will lock the whole ETH amount raised.
  • Bas3r/Bas4r — We will lock all tokens collected from the presale.

These two pairs will let people switch from token to token when rebase occurs. This will create a significant amount of volume and volatility on both pairs. What is more, the rebalance feature will help both tokens to increase in value over time. (Hopefully the liquidity incentive doesn’t let Bas4r loose a lot of liquidity)

Option 2

We will raise only 50 ETH. We will make one pair Bas4r/ETH with all the ETH raised. An additional 3rd contract will be made, which will be the connection between the two contracts.

How will it work?

Basically, you deposit Bas3r or Bas4r in the contract. You will get a fixed amount of hours lockup (This will make everything even juicer). After the lockup is over, you can choose which coin to withdraw (total supply percentage base). There might be a risk for some people getting stuck in the tokens they don’t want. However, it will still create a lot of madness.

We have some more interesting ideas in mind. These are just suggestions to think about!

  • Bas4r project peg price — The peg price for the Bas4r project can be the last rebase price. This will lead to changes in the sentiment every day and bring a lot of volume. (However, it might wreck many people). The switch between projects in this way would be insane. At some point, there will always be one with а positive rebase.
  • The rebase price will be taken on a 3 hour moving average (Before the rebase). This will help us avoid price manipulation. (For example, if a whale has tons of tokens, it can dump the price just before the rebase, make negative rebase and buy back a lot cheaper)

KEEP IN MIND THAT’S JUST AN EXPERIMENT. Connecting two rebase projects hasn’t been done yet. We don’t know for sure what the effects will be. Consider this before making any decisions.

Bas3r is a Defi Project, combining two of the recently most successful projects — RFI and BASE.