Tokens

BXC - BasisX Cash
BXC tokens are designed to be used as a medium of exchange. The built-in stability mechanism in the protocol determistically expands and contracts the BXC supply to maintain BXC's peg to 1 $USDT
BXS - BasisX Share
BasisX Shares loosely represent the value of the BasisX and trust in its systemic ability to maintain BXC to peg. During epoch expansions (when TWAP - time-weighted average price of BXC is above the 1 $USDT peg), the protocol mints BXC and distributes it proportionally to all BXS holders who have staked their tokens in the boardroom.
Additionally, BXS are used to achieved a completely decentralized on-chain governance where BXS holders have voting rights and the ability to create proposals to improve BasisX.
BXS has a maximum total supply of 1,000,000 tokens. All BXS are allocated for incentivizing Liquidity Providers in 2 shares pools.
BXB - BasisX Bonds
BasisX Bonds are minted and redeemed to incentivize changes in the BasisX Cash supply. Bonds are always on sale to BasisX Cash holders, although purchases are expected to be made at a price below 1 BasisX Cash. At any given time, holders are able to exchange their bonds to BasisX Cash tokens in the BasisX Cash Treasury. Upon redemption, they are able to convert 1 BasisX Bond to 1 BasisX Cash, earning them a premium on their previous bond purchases.
Contrary to Basis Bonds of basis.io, bonds in BasisX do not have expiration dates. All holders are able to convert their bonds to BasisX Cash tokens, as long as the Treasury has a positive BXC balance.

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Last modified 1yr ago

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Contents

BXC - BasisX Cash

BXS - BasisX Share

BXB - BasisX Bonds