Bitcoin Forum

i was just looking for a new project to invest and one of the projects I found is Base Protocol (BASE), I see this project has a very interesting idea, because Circulating Supply and the price of BASE will be reset every 24 hours.

I will explain it using Dashboard from Base Protocol
https://cdn.steemitimages.com/DQmYhZgV7RytF12qAvS1b6n1xyuPRs7A2YEirVe84WAvpRG/BASE.png
source : https://dashboard.baseprotocol.org/

so on this dashboard there are 6 information, that is :
1. Current BASE Price
current BASE price before reset;
2. Target BASE Price
BASE price after 24 hours (reset), this is determined from Market Cap in cryptocurrency, so if the total of Market Cap is $662B then the target for BASE price is $0.662 and if the total of Market Cap becomes $583B then the target for BASE price is $0.583;
3. Crypto Market Cap
This is to tell us the total of Market Cap for now;
4. Next Rebase
this is to see when it's time for BASE to reset;
5. Rebase Factor
to tell you how much the percentage of circulating supply will expand (+) or contract (-) after reset;
6. Circulating Supply
total circulating supply from BASE at this time.

I take an example :
1. supply will expand (+)
- Crypto Market Cap
$700B
- Target BASE Price
$0.70
- Current BASE Price
$1.05
- Next Rebase
00 Hours 00 Minutes 01 Seconds
- Rebase Factor
(+)50%
- Circulating Supply
18.000.000
then at the time of reset, BASE price will be $0.70 and circulating supply from BASE will expand 50% to 27.000.000, so at that time if we have 500 BASE then our BASE will automatically be 750.

2. supply will contract (-)
- Crypto Market Cap
$800B
- Target BASE Price
$0.80
- Current BASE Price
$0.40
- Next Rebase
00 Hours 00 Minutes 01 Seconds
- Rebase Factor
(-)50%
- Circulating Supply
18.000.000
then at the time of reset, BASE price will be $0.80 and circulating supply from BASE will contract 50% to 9.000.000, so at that time if we have 500 BASE then our BASE will automatically be 250.

It's quite interesting and this is almost similar to the rebase system used by AMPL. I will try to put small money to use this as a daily trade as the rebase happened everyday. The rebase coin can't be used for long-term speculation but it will be suitable to be used for short-term speculation as the rebase is always happening every day.
You might see your coins will increase or decrease and that's it.
Rebase is a good idea but it's still lack of utility

Those are very high risk assets. Very hard to predict. I don't think they are good to speculate on. Definetly not good to hold. And you all need to know that token is just a way of getting funds (crowdfunding). It should not be created in a way that average investor is more like a gambler. It looks to me that this token is intended only for gambling.

There is in deep research made by binance academy about elastic supply tokens together with build in risks

https://academy.binance.com/en/articles/elastic-supply-tokens-explained?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial

Yeah I think Base people have hired people to randomly talk about them on the forums. I just read about the PSG / JUV coins in the other thread here and although I've been dismissive about them but even those pesky football clubs fan coins or tokens or whatever they are calling it has more real life usage than this Base shit.

In case some of you reading this are actual BASE fans shill it to me please and pretend I have a cool $20k burning a hole in my pocket and why I should choose Base over coins like PSG or JUV that are getting listed on Binance ffs!

Go and write this down this project would fail. I love the idea and after looking at the project the model will fail with time. Ask yourself how the team come about the amount of total token that would be in circulation, once they start releasing their private sale tokens and they start selling them game over.

Remembering the AMPL which until now was unable to reverse their highest price on the last ATH while the market was bullish and still reached negative rebase several times.

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So this is the reason why Binance doesn't list ampleforth even though the trading volume is quite high. So there is no hope for an altcoin like this base protocol to be listed there.

It has nice concept rebranded in a way to seemingly give the token much value but also there are loopholes if you are going to invest don't hold too long. Take your profit and move on when it happens.

That's rebase and this idea was making the owner or developers can also control the price through doing rebase. The rebase idea can be manipulated easily. Is not it the private sale already distributed to the its participants? This coin is always going down and up.

That's what I think too because of their massive supply their dream of further liquidity will be impossible in the future since they don't have any back up of any sort with their project. If we look at its same amount of supply, like for example ripples, they have some partnership with some big companies to continue their developments. They need such things to contribute to their project which will make the investors attracted and wanted to see their developments.

I promoted base protocol through bounty campaign and I earned some tokens but what I've seen is very shocking that I don't tend to hold for a long time, within 4 days of holding my base tokens the supply have dropped marginally, it's easier to be at loss with this base protocol than other altcoin projects, not good for me I will pass by

Exactly what I thought. They hired a bunch of shillers and paid them in their crypto and then everyone just dumped it. Fuckking horrendous..

Can you explain more abot the loopholes u mean, im searching about interesting project too.

The concept is good but thats high low reward. You cant earn as much as other altcoins because of the price is basing on the total marketcap. Still, thats good for daily trading.

The mechanism used by the rebase protocol has been putting the hunters into a lot of disadvantages. The hunters didn't know how the to rebase was working and they still keep it when the rebase will decrease the total supply and they were losing their money too. Some hunters might understand about that but it's not all of hunters were understand about the rebase.
8 millions to the 80 millions and wow that's a huge amount of new coins.

Yes, but if you still have doubts about the project, then it's better not to invest in it, because considering the risks and brands that have been changed.

The loophole he refers to is the loss through the disposal of tokens by people who have bought large quantities at very cheap prices, this is a loophole that is not good, as well as profits, if the gap for profit exists, then it is better to take it immediately, don't stay there too long.