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Hey guys, when you do tweets with the hashtags, please write a message as well and not only the hashtags. This should be a real message that you craft based on recent news we release, information from our website, etc...
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We have reached our limit of bounty submissions, and we have closed the bounty to new entries for now. We will post if we decide to reopen it, but for now we are happy with the number of participants we have.
In the future we will likely do more twitter bounty campaigns like this, so keep an eye out. |
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We have reached our limit of bounty submissions, and we have closed the bounty to new entries for now. We will post if we decide to reopen it, but for now we are happy with the number of participants we have.
In the future we will likely do more twitter bounty campaigns like this, so keep an eye out. BASE Protocol: One Token to Hold them All _______________________________________________________________________________ ___________ Website | Telegram | Whitepaper_______________________________________________________________________________ ___________ BASE is the world’s first and only tokenized crypto market tracker.
By holding BASE, users get exposure to the performance of the entire cryptocurrency market.
  Official Base Protocol Twitter Bounty Thread 01/05-02/23_______________________________________________________________________________ __________________________________________ Official Announcement: Twitter Bounty ImplicationsBase Protocol Twitter Bounty Campaign - Overview Earn BASE Tokens (BASE) by participating in the Base Protocol twitter bounty campaign!
$25,000 of BASE will be allocated to Base Protocol twitter bounty payouts.
Base Protocol Bounty Event Timing
January 05th, 2021 - February 22nd, 2021
Bounty rewards will be issued when the Bounty Event is over. Bounty Distribution: $25,000 worth of BASE
The Twitter bounty will operate on a weekly basis. The bounty will run with the week dates being the following:
Week 1: 01/05-01/11
Week 2: 01/12-01/18
Week 3: 01/19-01/25
Week 4: 01/26-02/02
Week 5: 02/02-02/08
Week 6: 02/09-02/15
Week 7: 02/16-02/22
_______________________________________________________________________________ __________________________________________ Base Protocol Twitter Bounty Requirements Joining the Twitter Bounty Telegram is required to participate in any bounty campaigns. Registering with the Base Protocol Twitter Bounty Telegram is required to qualify for the Base bounty campaigns. We would like to assure all participants that we intend to proactively oversee and manage our bounty program to the highest standard. We will use a unique google forms and spreadsheets to facilitate this and make the bounty process as easy as possible for all Base participants. Still, the most important element of a successful bounty program is an effective, consolidated channel for communication. We aim to achieve this through our Telegram. _______________________________________________________________________________ __________________________________________ Twitter Bounty Campaign: 25% Twitter Bounty Guidelines: - Only one Twitter account per participant is allowed.
- Bitcointalk accounts with negative trust are not eligible for campaign.
- Your Twitter account must have at least 200 followers.
You must do 3 retweets.
You must do 4 quote tweets.
You must publish 5 original tweets.
*QUOTE TWEETS AND ORIGINAL TWEETS MUST INCLUDE THE FOLLOWING HASHTAGS: (They must also include a real, organic message in addition to the hashtags)
$BASE #DeFi #Uniswap #Chainlink #Ethereum #Crypto #Rebase #YieldFarming $SUSHI $DDIM #AMPL $AMPL
*TRACK THE PINNED MESSAGE IN THE BOUNTY TELEGRAM SO YOU KNOW WHAT CONTENT TO SHARE IN YOUR ORIGINAL TWEETS.
You must tweet at least once a day. Tweets must be in English.
You must report your original tweets, quote tweets and retweets in this twitter bounty campaign thread every week:
- Post the links to your tweets to the thread before the final day of each week (Monday) 23:59 UTC to qualify for bounty stakes that week.
Example of Twitter bounty report on thread:
Twitter Username: @bountyparticipant
Twitter URL: https://twitter.com/bountyparticipant
Followers: 450
Retweets:
[link to retweet 1 about BASE]
[link to retweet 2 about BASE]
[link to retweet 3 about BASE]
Quote Tweets:
[link to quote tweet 1 about BASE]
[link to quote tweet 2 about BASE]
[link to quote tweet 3 about BASE]
[link to quote tweet 4 about BASE]
Original Tweets:
[link to tweet 1 about BASE]
[link to tweet 2 about BASE]
[link to tweet 3 about BASE]
[link to tweet 4 about BASE]
[link to tweet 5 about BASE]
Twitter Bounty Stakes
1 stake / 1 retweet
1 stake / 1 quote tweet
1 stake / 1 original tweet
Twitter bounty tokens will be distributed proportionally among participants in the Base Protocol Twitter bounty campaign according to number of stakes earned.
Twitter campaign participants and individual stakes earned (updates take up to 48 hours):
https://docs.google.com/spreadsheets/d/1ydT9M6H1d9NMetuWvqxyBqnAKyv0xw7aT6viRRgNnyE/edit?usp=sharing
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i wish to request to remove my signature since the bounty campaign is over. I hope the bounty manager will accept this request. thank you for this wonderful bounty. it was a success.
Sadly no one cant talk to the team any more, the bounty chat group is restricted and no one can make comment about bounty in the group without immediate delete. I tried making contact with the manager but am also restricted, especially for signature participants they should get in touch with bounty manager as soon as possible because the restrictions can keep them carrying that signature as long as possible without bonus for the period. Everyone can remove their signatures now, we have calculated the stakes, and will be distributing tokens over the next 48 hours or so. |
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We have officially calculated all bounty participants stakes, and how much BASE is owed. We removed participants who tried to cheat the bounty system in different ways, mainly in the articles bounty.
We have also accounted for the amount of time each individual was in the bounty, and properly awarded stakes based on time.
We will be distributing bounty payments over the next 48 hours. It is a lot of transactions we must do.
There were a total of 30703 BASE allocated for the bounty, this represented 2% of the Ecosystem tokens when we released the bounty
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...and Nick/Dylan did not take a salary at any point from 2018–2020
I see an open conversation. Could you give information about how and how much money you spent to develop a previous project? So far, I only see your words that the developers did not take a salary. These are words, I would like to see digits. Expanded information will give you a new reputation. We will not be talking about this subject very much in the future because we have already commented on it, and it is mentioned on our website directly in our team section. I am providing this, so that you can actually see some numbers that we provided a long time ago in relation to the expenses. We were always extremely transparent about our expenses in the company. Last thing, we never said that developers did not take a salary; it was the two co-founders who did not take a salary in over two years. We ensured that our developers were paid a fair wage. You can check out this article, just to get an idea on our spending previously. https://medium.com/spectiv-vr/2019-spectiv-status-update-5412b4f409a5I held on to this tokens through out 2018 and the project was left to die, and the big question is that, how are we sure that this project won't end up the way Spectiv did. I have always said it is naive of any team to hold on to the fund raised in crypto, atleast convert part to fiat that can cover your running cost for 2 years I can confidently say that we will be converting all of the initial money received to a stable currency. |
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Where can you buy the base token?
Right now there is no way to "buy" BASE. You can sign up for the presale application on our website: baseprotocol.org/presale |
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Yes this is essentially correct. I highly recommend reading the whitepaper or litepaper on our site because it will explain everything about rebasing. Check it out at: baseprotocol.org
If that's your answer, then we're back to the point where I questioned your method to stabilize price, because that is where the confusion began. According to the general idea stated on this thread, as well as confirmed by you on the answer I quoted above, stability achieved by airdropping token to holders, proportional to the increment of crypto marketcap. But, at one point of your explanation on this thread, as well as what's stated on what I screenshotted from your WP below, your attempt to stabilize price only stretched to increasing and decreasing supplies, while the actualization of price correction themselves depends entirely on holders action to sell and buy. In other words, if they wanted to get (for example) from 1 BASE to 2 BASE, they need to bid 1 extra BASE at certain price. They need to BUY, because token will not be airdropped to them. And only after a transaction finalized, a stabilized price will occur.   Tell me, were the people who write WP and moderating this thread different people with different understanding of how the project works? Rebasing only affects supply, what you're talking about now is about how arbitrage can affect price to also help stabilize. At the end of the day it's very simple: BASE price above peg price = Supply increase BASE price below peg price = Supply decrease We do increase the supply. As it shows in our whitepaper, if supply is 1, and price doubles, then after a rebase supply will now be 2. That supply change affects the entire BASE ecosystem, and every single wallet accordingly. |
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TWITTER BOUNTY!
If you are in the twitter bounty, please tweet out this tweet on your account as one of your required tweets:
"$BASE Protocol is the world's first crypto industry index.
Learn more: baseprotocol.org
#DeFi #Rebase #BaseProtocol #AMPL $AMPL $xETH $ESD $DDIM"
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We have done quite a bit for the bounty today. Please see everything below for all updates:
1. We have chose all translations participants, and messaged them on Telegram
2. We have updated the main bounty thread to show the dates of each week for the twitter and signature campaigns
3. We have reviewed and assigned stakes to all articles and videos we have received so far. Not one video was accepted because all submissions were fake.
4. we have updated the twitter hashtags that we want everyone to use. |
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I'll focus on this matter first before attending to other matters. Based on your example, you peg the price by doubling and reducing the amount your user hold? And how is this achievable? Doesn't it imply that you have control of every token circulating?
Price is pegged by adjusting the total supply of BASE correspondent to the peg disruption. That could be a 100% adjustment, 20% adjustment, or even a 1% adjustment. The team does not have control over the rebases. It is a feature built into the smart contract that affects all tokens in the ecosystem. Anyone, anywhere can call the rebase to trigger at the rebase time. Now this is rather confusing. On your first illustration with John, you regulate the price by adding more token to John (from 1 BASE to 2 BASE). By this recent illustration, it was the total supply that's affected, while the amount of BASE each member owned is not affected. Which one is correct? Because although they look the same by glance, they're actually extremely different. Very suspicious in my opinion and I see there is a red trust attached to you that something big is very suspicious here. A suspicious project. I think there is a little confusion here. In the original example, John would go from 1 to 2 BASE tokens, that is still very true. We are simply saying that the rebase percentage can be any percentage, it all depends on the target price and current price of BASE. We actually built out a dashboard on our website, so that people can easily understand the numbers behind the rebases. https://dashboard.baseprotocol.org/As for the red trust... that is simply malicious activity from users on the site, and there is nothing we can really about that. |
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...and Nick/Dylan did not take a salary at any point from 2018–2020
I see an open conversation. Could you give information about how and how much money you spent to develop a previous project? So far, I only see your words that the developers did not take a salary. These are words, I would like to see digits. Expanded information will give you a new reputation. We will not be talking about this subject very much in the future because we have already commented on it, and it is mentioned on our website directly in our team section. I am providing this, so that you can actually see some numbers that we provided a long time ago in relation to the expenses. We were always extremely transparent about our expenses in the company. Last thing, we never said that developers did not take a salary; it was the two co-founders who did not take a salary in over two years. We ensured that our developers were paid a fair wage. You can check out this article, just to get an idea on our spending previously. https://medium.com/spectiv-vr/2019-spectiv-status-update-5412b4f409a5 |
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2) The way BASE maintains its price peg is through an elastic supply protocol which utilizes rebasing. This means the protocol will adjust total BASE supply, changing scarcity, to influence price to reach the target peg.
Consider this example, where total crypto market cap is $400B:
t1 : Starting Equilibrium (Pegged)
John has 1 BASE worth $0.40.
t2 : Price Increases (Peg Disruption)
John has 1 BASE worth $0.80.
t3 : Ending Equilibrium (Pegged)
John has 2 BASE each worth $0.40.
In this situation, the price of BASE doubled above the peg price. In response, the protocol doubled the total supply of BASE, which brings scarcity down, and influences price to return to its equilibrium. These supply adjustments are called rebases. There can be expansion rebases or contraction rebases.
This is how the peg is achieved.
I'll focus on this matter first before attending to other matters. Based on your example, you peg the price by doubling and reducing the amount your user hold? And how is this achievable? Doesn't it imply that you have control of every token circulating? Price is pegged by adjusting the total supply of BASE correspondent to the peg disruption. That could be a 100% adjustment, 20% adjustment, or even a 1% adjustment. The team does not have control over the rebases. It is a feature built into the smart contract that affects all tokens in the ecosystem. Anyone, anywhere can call the rebase to trigger at the rebase time. |
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Why are you confident in the success of your new project? As far as I remember, your team failed in the last SpectivVR project, you raised more than 10,000 ETH at the Spectiv ICO and after a while the project was closed. I don't think your team inspires confidence! Previous project of this team: https://bitcointalk.org/index.php?topic=2296908.010000 ETH in 2017! In tune of $14m from the ATH in 2018 and the project doesn't exist today. its a very disturbing revelation and red flag for investors. The ATH of $ value in ETH is not relevant. ETH was spent on an ongoing basis as needed to support operational costs. There were times where the reserves value was high and times where the value was low. Still, even when the market hit its low in early 2018, the team persisted and did everything possible to weather the storm. Downsized the team, switched to remote working, cut out all noncritical expenses, and Nick/Dylan did not take a salary at any point from 2018–2020. As time went by and markets held low, we foresaw that reserves wouldn’t be able to support hosting/development costs much longer, and that it wasn’t prudent for us to continue expending capital to maintain a sinking ship. Unlike many teams, we went out of our way to refund reserves to buyers as we saw an imminent downfall – and didn’t pay ourselves a penny from those reserves. We held ourselves to the highest standard of integrity throughout the lifespan of the project. Lastly, it is important to understand the nature of startups. They can succeed and they can fail. This is the road of innovation. |
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Why are you confident in the success of your new project? As far as I remember, your team failed in the last SpectivVR project, you raised more than 10,000 ETH at the Spectiv ICO and after a while the project was closed. I don't think your team inspires confidence! Previous project of this team: https://bitcointalk.org/index.php?topic=2296908.0We’ve addressed our prior experience with Spectiv and the Signal Marketplace in a Medium article, which was posted from the day we launched. We’re not trying to hide anything – we are proud of our conduct as a team in these projects. Here, we’ll respond to the concerns you guys point out: We launched Spectiv in late 2017 and ended it in early 2020. As you might be aware, the crypto markets endured a jarring downfall over that time. Many projects — even those who followed through on developments, built functional products, and maintained positive community sentiment — didn’t survive that downfall. Spectiv was one of those projects. We and many members of the retired Spectiv community reflect fondly on the project. We built an innovative decentralized ad platform, made major industry partnerships, and maintained a spirited community culture over its lifespan. We also set an unprecedented standard for transparency — for example, by publicizing all organization expenditures and tax documents. Although Spectiv was on the tram lines to an industry collapse, the project was conducted with grace, excellence, and honesty. No Spectiv founder ever sold any team tokens at any point in the project’s existence. As markets took a turn for the worse, we did everything we could to weather the storm. We downsized the team, switched to remote working, cut out all noncritical expenses, and Nick/Dylan did not take a salary at any point from 2018–2020. As time went by and markets held low, we foresaw that reserves wouldn’t be able to support hosting/development costs much longer, and that it wasn’t prudent for us to continue expending capital to maintain a sinking ship. We elected to refund all remaining ETH holdings to token buyers. Without compensating ourselves, we refunded all of ~1000 ETH in January of 2020. To sum it up for you guys, 2018 and 2019 were overwhelmingly difficult years, especially for small cap projects. Even if we were magicians, there isn’t much that we would have been able to do to come out of that successfully. The same can be said for most other small cap projects. But you shouldn’t be focusing on the success / failure of a prior project. Entrepreneurs try things – sometimes those things work out and a lot of the time, they don’t. That is the nature of startups. But unlike many teams, we went out of our way to refund reserves to buyers as we saw an imminent downfall – and didn’t pay ourselves a penny from those reserves. We held ourselves to the highest standard of integrity throughout the lifespan of the project. Spectiv was a defeat – one which was heavily influenced by an overwhelmingly bearish crypto market. That defeat is not a reflection on the team. If there is any takeaway regarding the team as it pertains to Spectiv, it should be that we handled that defeat fairly and put the community first. One last thing worth pointing out is that all BASE team tokens are locked for 12 months, then vested linearly over 12 months. We are long-term committed, because like always, we have and will conduct ourselves with the highest standards of honesty, transparency, and integrity. The fact that we’ve had a failed project shouldn’t sully your view on Base Protocol. It should show you that, firstly, we have direct experience in launching a crypto project – we know what to do and what not to do. Secondly, it should show you that no matter the circumstances, we have always put our community first. Make sure to refer to the team Medium article, which has been on the Base website since launch: https://medium.com/@BaseProtocol/base-protocol-team-f64d0b62aa35as I understand from your message, you worked exclusively only when there was a hype ICO, as soon as it subsided, and the market went to the bottom, you closed at the beginning of 2020, and at the end of the year, when the defi movement began, you immediately return to the market, defi and ico are not eternal, and soon this hype will fall even more, what can we expect in this case, that you will close the project again ,since there will not be so many funds? I see that you are only chasing profit, this is a sign of scammers. The Spectiv team worked diligently to make the project work for as long as there was a feasible future. But when failure became imminent, we provided refunds. 2018 and 2019 were terrible years for the market, but we didn't quit at the first site of a market fall. We stuck it out through those years, until it was no longer responsible to do so. Regarding your concern as it relates to Base Protocol, we are not here for DeFi hype. This is not a money game, APY-focused project. A crypto index is a real need which does not exist in the world today, and we've built the protocol which services that need. You can see that on the Github and Dashboard on the Base Protocol website. And if crypto markets take a bearish turn, it won't be a threat to the operation of the Base Protocol. Unlike many other projects, the Base Protocol is not a revenue reliant business which requires customers for success. It is a decentralized protocol which achieves its utility / value on its own. There won't ever be a reason to "close the project." Lastly, BASE is not a scam. More than 96% of funds accepted are through private "smart money" strategic partners who we are in direct, regular communication with. If it was our intention to "chase profit" or "scam," it would make more sense to open the presale to the public. But less than 4% is allocated to the public, through a community lottery round. Not to mention, all BASE team tokens are locked for one year, then vested linearly over the next year - meaning it will take two years for all team tokens to be released. The BASE team is long-term committed to this project. |
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Past failed project aside, I'd like to know how you peg your token price at total crypto marketcap. Basically this project is a stablecoin, right? So what procedure do you take to stabilize your token at the said pegged price?
Second, which platform do you use to determine the total crypto marketcap to peg this token's price?
Interesting question here. If they will based from https://coinmarketcap.com/ today the global crypto market cap is about $397.77B, so if in case you will take into account the current rate in CMC, their Base token will have a value of about $0.397. But can they really keep this value once their token is already in exchanges? What are their protocols to keep their value in exchanges be pegged to this price? We'll answer these questions in this response: 1) To determine total crypto market cap, BASE feeds total crypto market cap data from 11 different popular price tracking sources through a Chainlink oracle. This is already functional, and you can see how it works on the interactive BASE Dashboard: https://dashboard.baseprotocol.org/2) The way BASE maintains its price peg is through an elastic supply protocol which utilizes rebasing. This means the protocol will adjust total BASE supply, changing scarcity, to influence price to reach the target peg. Consider this example, where total crypto market cap is $400B: t1 : Starting Equilibrium (Pegged) John has 1 BASE worth $0.40. t2 : Price Increases (Peg Disruption) John has 1 BASE worth $0.80. t3 : Ending Equilibrium (Pegged) John has 2 BASE each worth $0.40. In this situation, the price of BASE doubled above the peg price. In response, the protocol doubled the total supply of BASE, which brings scarcity down, and influences price to return to its equilibrium. These supply adjustments are called rebases. There can be expansion rebases or contraction rebases. This is how the peg is achieved. |
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We have fixed some issues with the bounty, so it should be good to go now:
1. The signature form has been fixed, feel free to fill it out now.
2. We are getting a lot of questions about required number of posts for the signature campaign. These answers are in the bounty thread, it is very clearly communicated.
3. Telegram link is fixed
The signature for hero members will be fixed shortly
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Why are you confident in the success of your new project? As far as I remember, your team failed in the last SpectivVR project, you raised more than 10,000 ETH at the Spectiv ICO and after a while the project was closed. I don't think your team inspires confidence! Previous project of this team: https://bitcointalk.org/index.php?topic=2296908.0We’ve addressed our prior experience with Spectiv and the Signal Marketplace in a Medium article, which was posted from the day we launched. We’re not trying to hide anything – we are proud of our conduct as a team in these projects. Here, we’ll respond to the concerns you guys point out: We launched Spectiv in late 2017 and ended it in early 2020. As you might be aware, the crypto markets endured a jarring downfall over that time. Many projects — even those who followed through on developments, built functional products, and maintained positive community sentiment — didn’t survive that downfall. Spectiv was one of those projects. We and many members of the retired Spectiv community reflect fondly on the project. We built an innovative decentralized ad platform, made major industry partnerships, and maintained a spirited community culture over its lifespan. We also set an unprecedented standard for transparency — for example, by publicizing all organization expenditures and tax documents. Although Spectiv was on the tram lines to an industry collapse, the project was conducted with grace, excellence, and honesty. No Spectiv founder ever sold any team tokens at any point in the project’s existence. As markets took a turn for the worse, we did everything we could to weather the storm. We downsized the team, switched to remote working, cut out all noncritical expenses, and Nick/Dylan did not take a salary at any point from 2018–2020. As time went by and markets held low, we foresaw that reserves wouldn’t be able to support hosting/development costs much longer, and that it wasn’t prudent for us to continue expending capital to maintain a sinking ship. We elected to refund all remaining ETH holdings to token buyers. Without compensating ourselves, we refunded all of ~1000 ETH in January of 2020. To sum it up for you guys, 2018 and 2019 were overwhelmingly difficult years, especially for small cap projects. Even if we were magicians, there isn’t much that we would have been able to do to come out of that successfully. The same can be said for most other small cap projects. But you shouldn’t be focusing on the success / failure of a prior project. Entrepreneurs try things – sometimes those things work out and a lot of the time, they don’t. That is the nature of startups. But unlike many teams, we went out of our way to refund reserves to buyers as we saw an imminent downfall – and didn’t pay ourselves a penny from those reserves. We held ourselves to the highest standard of integrity throughout the lifespan of the project. Spectiv was a defeat – one which was heavily influenced by an overwhelmingly bearish crypto market. That defeat is not a reflection on the team. If there is any takeaway regarding the team as it pertains to Spectiv, it should be that we handled that defeat fairly and put the community first. One last thing worth pointing out is that all BASE team tokens are locked for 12 months, then vested linearly over 12 months. We are long-term committed, because like always, we have and will conduct ourselves with the highest standards of honesty, transparency, and integrity. The fact that we’ve had a failed project shouldn’t sully your view on Base Protocol. It should show you that, firstly, we have direct experience in launching a crypto project – we know what to do and what not to do. Secondly, it should show you that no matter the circumstances, we have always put our community first. Make sure to refer to the team Medium article, which has been on the Base website since launch: https://medium.com/@BaseProtocol/base-protocol-team-f64d0b62aa35 |
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