# Home

Welcome to Based Finance the algorithmic token pegged to FTM on the Fantom Network.

### The Emergence <a href="#the-big-picture" id="the-big-picture"></a>

Based Finance team consisting 14 people successfully launched Based Finance protocol in February, 2022.\
Initially we decided to peg to Tomb token, which was one the dominating projects on FTM network.\
This allowed us to gain great exposure to community, partnerships and healthy growth of our protocol - TVL peaked at around 120 million, very deep liquidity on both tokens, top traded coins on FTM chain, we had it all! As we all know this didn't last for long, and by end of Based Shares emissions (July 24th, 2022) we ended up having 39.5 million Based tokens in circulation, which lost all their value with investors capitulating and mass panic in DeFi space.

Since then, economic situation in the world worsened even more, especially crypto markets took a big hit and we are currently in the depths of a bear market. With all economic and  emotional hardships we had to restructure, plan for future of our product and preserve it at all cost by reducing our expenses and shrinking our Core Team to 6 members. In addition to that, we had a different vision for future of DeFi with tomb finance and we had to part ways.&#x20;

We decided to improve and innovate on our product after brainstorming on how to preserve our protocol without losing the initial narrative or getting lost in a slew of failed projects. We optimized our mechanics and came up with new ways to make ASC stronger then before. We decided to implement burns on our main farm token $BASED to bring greater value to it! \
We are happy to say that at the time of this docs update - we stand at \~ 16 million tokens in circulation and this number keeps going down every day!  &#x20;

Additionally, with the help of our very based community we decided to repeg to FTM to avoid premature printing of $BASED in the middle of a bear market since we are still in the process of lowering our circulating supply! So far, its been a very long and rich journey for all of us, both investors and team members alike.

\
&#x20;


# Based Labs Team

We are glad to present to you our current team that keeps this based train going:

## Core Team

EREBUS - R\&D, Marketing

ARES - R\&D, Communications

HERCULES - R\&D, Financials

IVA - Front End Dev

URAN - Back End Dev

ATHENA - Back End Dev

### Based Titans and Moderators&#x20;

Dionysus

Dexterium

Evernite

McDeFries

Borlean


# Tokens

Based Finance is a multi-token protocol which consists of the following three tokens:

## BASED - Based Token

![](/files/SVC8JMKuQ17pgfluAP3C)

BASED (FTM chain): 0x8D7d3409881b51466B483B11Ea1B8A03cdEd89ae

BASED (BASE chain): 0x74235c64f806341C14bF2be0887EEcd55daE955E

BASED token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain BASED peg to 1 Ftm token in the long run.

Note that BASED **actively pegs via the algorithm**, it **does not mean** it will be valued at 1 FTM all times as it is not collaterized . BASED is not to be confused for a crypto or fiat-backed stabl&#x65;**-**&#x63;oin.

## BSHARE - Based Share

![](/files/3QGjEOaswfafn94rlDfZ)

BSHARE: 0x49C290Ff692149A4E16611c694fdED42C954ab7a

Based Shares (BSHARE) are one of the ways to measure the value of the BASED Protocol and shareholder trust in its ability to maintain BASED close to peg. During epoch expansions the protocol mints BASED and distributes it proportionally to all BSHARE holders who have staked their tokens in the Acropolis (boardroom).

BSHARE has a maximum total supply of 50000 tokens and its emissions ended on July 24th, 2022.\
There will be no more than already circulating supply of 50,000 BSHARE Tokens.

## BBOND - Based Bonds <a href="#tbond-tomb-bonds" id="tbond-tomb-bonds"></a>

![](/files/zTVecnxFXAY5yOlrl4e8)

BBON&#x44;**:** 0xC078285F16665B3F4bCe74AbDCF0f4C877de3E9f

Based Bonds (BBOND) main job is to help incentivize changes in BASED supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of BASED falls below 1 FTM, BBONDs are issued and can be bought with BASED at the current price. Exchanging BASED for BBOND burns BASED tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 FTM. These BBOND can be redeemed for BASED when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for BASED when it is above peg, helping to push it back toward 1 FTM.

Contrary to early algorithmic protocols, BBONDs do not have expiration dates.

All holders are able to redeem their BBOND for BASED tokens as long as the Treasury has a positive BASED balance, which typically happens when the protocol is in epoch expansion periods.\
To make these algorithms even stronger Based Labs team introduced incentivized single asset staking pool for BBONDS that pays rewards in USDC!&#x20;


# Platform Overview

Existing active farming and staking opportunities for current and future investors:

## **Dead Pools farming:**

Deposit your LPs to earn USDC.

Dead Pools are available for 12 months, rewards can be topped which will increase APR!!!

Farming Dead Pool allocations:

* BASED-FTM LP: 10,000 USDC
* BSHARE-FTM LP: 10,000 USDC
* BBOND single stake : 10, 000 USDC

Currently Matrix Farms are providing our community Auto-compounding options on our farms!!!

## Acropolis (Boardroom) <a href="#masonry-boardroom" id="masonry-boardroom"></a>

* Epoch duration: 6 Hours
* Deposits / Withdrawal of BSHARE into/from Acropolis will lock BSHARE for 4 epochs and BASED rewards for 2 epochs.
* BASED rewards claim will lock staked BSHARE for 4 epochs and the next BASED rewards can only be claimed 2 epochs later

![](/files/5jiuu6Lc45ejiP7f52cG)

### *Acropolis UI Available Information*

Next **Seigniorage** indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)

**APR** refers to the simple returns in USD value relative to the amount of BSHARE staked (USD value). *Note:* *APR fluctuates from time to time and is dependent on certain factors such as:*

* Price of BASED
* Price of BSHARE&#x20;
* Amount of BSHARE staked in Acropolis (Locked Value)

### *Acropolis on Contraction Periods*  <a href="#masonry-on-contraction-periods" id="masonry-on-contraction-periods"></a>

Acropolis will **not** mint any BASED (*NO REWARDS ON ACROPOLIS*) while TWAP is below 1.01

### ***Acropolis Debt Phase***

Debt Phase take place on the expansion epochs that start after a contraction period where there are still BBONDs to be redeemed.

65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the BBOND Redemption. This amount is still reserved whether or not BBOND holders are redeeming bonds or not.

Once BASED in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.

BBOND emitted per epoch during contraction periods can be found in Theatre.

## Theatre (Bonds) <a href="#pit-bonds" id="pit-bonds"></a>

BBOND (bond tokens) are available for purchase when BASED falls below the 1 FTM peg. If BASED TWAP is between 1.00 and 1.01, neither BBOND nor BASED will be issued.

e.g. if BASED TWAP < 1, exchange BASED for BBOND will be in a 1:1 ratio.

BBOND (bond tokens) are available for redemption when BASED goes above the 1 FTM peg.

To encourage redemption of BBOND for BASED when BASED TWAP > 1.1 and incentivize users to redeem at a higher price, BBOND redemption will be more profitable with a higher BASED TWAP value, of which BBOND to BASED ratio will be 1:R, where R can be calculated in the formula as shown below:

R=1+\[(BASED(​twapprice)−1)∗coeff)]&#x20;

Where coeff = 0.7


# Contracts

Contract addresses are being updated after actual deployments occur.

{% hint style="info" %}
Contracts deployed on FTM
{% endhint %}

**BASED:       &#x20;**<mark style="color:blue;">**`0x8D7d3409881b51466B483B11Ea1B8A03cdEd89ae`**</mark>

**BSHARE:    &#x20;**<mark style="color:blue;">**`0x49C290Ff692149A4E16611c694fdED42C954ab7a`**</mark>

**BBOND:      &#x20;**<mark style="color:blue;">**`0xC078285F16665B3F4bCe74AbDCF0f4C877de3E9f`**</mark>

**Dead Pool: &#x20;**<mark style="color:blue;">**`0x3A554736b2aF99F5574Ee630Db5Ae33Af118235e`**</mark>

**Acropolis:** <mark style="color:blue;">**`0xE5009Dd5912a68B0D7C6F874cD0b4492C9F0e5cD`**</mark>

**Treasury:   &#x20;**<mark style="color:blue;">**`0x25430E2ACb1255453135b2c64436C6b1Ff8153C5`**</mark>

**Oracle (Based-Ftm) :** <mark style="color:blue;">**`0xD6606bDbc57A803c0F045Fb5649290ac4237d14c`**</mark>

**BASED-FTM LP:&#x20;**<mark style="color:blue;">**`0x0981916Bd96d375dAd0067Fd24E19120D2fcF5e6`**</mark>

**BSHARE-FTM LP:** <mark style="color:blue;">**`0x52A5B9E36F53b54Ed9ddd7a4e66Ac26696E9F0be`**</mark>

**Katastima BBOND**:  <mark style="color:blue;">**`0x21B5966d1CDF8648ED9D47c9c055E928063A1C3E`**</mark>

#### Based Router : <mark style="color:blue;">`0xaf2098E3AF3AC27a3a9362ACa2D883eFC36c7FAC`</mark>

#### Multisig-Contract-Controller : <mark style="color:blue;">`0xf7CD324F26cE0C7A53471d8818b5C17cB532D4A7`</mark>

#### One Way Bridge : <mark style="color:blue;">`0x3dd5EC9eDA87edbD74a8149ACb76EF01b1F3A243`</mark>

#### GodNft Bridge : <mark style="color:blue;">`0xE0a90dd7813b580b0Dd24E6C9BE84993dE9c535f`</mark>

{% hint style="info" %}
Contracts deployed on AVAX
{% endhint %}

#### Multisig-Contract-Controller: <mark style="color:blue;">`0x2F3a39c4a0260455f1c0880554666C4b991371e2`</mark>

#### aBASED : <mark style="color:blue;">`0x1C1CDF8928824dac36d84B3486D598B9799bA6c0`</mark>

#### One Way Receiver : <mark style="color:blue;">`0x4a89ff15481aEeF002DD66c166DCa5c7ff437eE7`</mark>

{% hint style="info" %}
Contracts deployed on POLYGON
{% endhint %}

#### Multisig-Contract-Controller: <mark style="color:blue;">`0x719760AaBbA8398f691819339F759DF4BDA76Fa3`</mark>

#### pBASED : <mark style="color:blue;">`0xd44779F0E18729cB6AFB7548cF10EF448a602668`</mark>

#### One Way Receiver : <mark style="color:blue;">`0xd8472b8F93a987dDaB9CdAd4e44c9b1f444f2E58`</mark>

#### GodNFT : <mark style="color:blue;">`0xc978B4d4E9D2e8047E01A577c2b29d5A6Cb2eF5E`</mark>

#### GodNftBridge : <mark style="color:blue;">`0x9BC6DA9Be2dDC0B0b04b6D89Dc57c49FeDCac522`</mark>


# Security

Security measures implemented by the Based Labs Team.

A list of BASED contracts that have been renounced!

**Genesis Pools Renounced:** <https://ftmscan.com/tx/0xc318ba6f6ef8b138da0ed1d8f2bea5034955d47da30f8ef8dfd8f89ce1b3b714>

**Acropolis (Boardroom) Renounced**: <https://ftmscan.com/tx/0xf87715b1e79343153532996a85f27e290c5999ce9c0b7588b314afddea11997b>

**BASED Renounced:** <https://ftmscan.com/tx/0x901c6738cbf951d8b2582c33c0e91ee73dbfa998a65e45839409c2485abddcde>

**BSHARE Renounced:** <https://ftmscan.com/tx/0xf78948a2d37c6b19d5fa553fa5757609b7bc3fd2e55ae59d3d2ee3e03f052d91>

**BBONDS Renounced**: <https://ftmscan.com/tx/0xb93f97767de0c88ee8c3b615adf1cebe039a637bedd5f5b10588865b3e289f25>

**Zapper Contracts Renounced:** <https://ftmscan.com/tx/0x391634309c184db934700fb5a17f09a3b498bbb43cc994253f13c54ee612c8a1><https://ftmscan.com/tx/0x2058774a3213a25487d8b41e2f4c3a9224ce5df730bc607d1a8986869568be33>


# Protocol Fund

The fund controlled by the Based Labs Team that is used to pay salaries, build new protocols, invest into other projects to generate more income and revenue streams for our ecosystem.

### DAO Wallet Address:

0xA0e0F462d66De459711BC721cE1fdCC3D9405831

Information about the DAO is as follows:&#x20;

* The DAO fund will hold a range of assets at the discretion of the core team
* The fund may or may not invest in safe projects to earn yield and grow itself at the discretion of the team.

#### 15% of BASED Emissions will go to the Treasury(DAO Fund).


# How To Buy

Assuming you already have a wallet with FTM chain set up:

1. You can visit our website <https://basedfinance.io/>&#x20;

&#x20;     Click burger menu item button - click action button - you will be redirected to our Based Dex!

<figure><img src="/files/NxZcdHhlk6in2xjIZg5F" alt=""><figcaption></figcaption></figure>

2\. You can visit our Based Dex webpage <https://next-gen.basedfinance.io/dex>

&#x20;  Choose the asset you want to purchase - approve token spend limit - click swap!

<figure><img src="/files/009drtrJsGqbXYXEGIme" alt=""><figcaption></figcaption></figure>

If you are using an aggregator and $BASED does not show up on the Exchange, please use the address provided below to purchase BASED. Simply copy/paste the address.

**BASED**: 0x8D7d3409881b51466B483B11Ea1B8A03cdEd89ae

**BSHARE**: 0x49C290Ff692149A4E16611c694fdED42C954ab7a

We are partnered with Firebird Dex aggregator <https://app.firebird.finance/swap> and we recommend using them if you have USDC and want to purchase our ecosystem tokens!&#x20;

Congratulations, you are now part of the most BASED ecosystem


# Provide Liquidity

In order to provide Liquidity, we first have to purchase either BASED or BSHARE (have a look at our "How to buy" section if you need help in doing so), depending on which pool you want to be farming in.

There are several ways to provide liquidity:

1. Visit our Based DEX at <https://next-gen.basedfinance.io/dex>. \
   Click liquidity tab\
   Choose assets you want to create liquidity with\
   Enter amount of either asset you want to use - DEX will calculate needed amount for the other asset\
   Click LETS GO! <br>

   <figure><img src="/files/5i42WAMoCI1ofeE07nb6" alt=""><figcaption></figcaption></figure>

&#x20;     &#x20;

2\. Visit our BasedFinance webpage at <https://basedfinance.io/marketplace>\
&#x20;   Choose a pool you want to be farming in - click view button.\
&#x20;   Click button CREATE LIQUIDITY ON BASEDSWAP - which will redirect you to our DEX and have chosen assets already set:\
\
Enter amount of assets you want to use and click LETS GO!

<figure><img src="/files/vWg8bi3ILLTB5EM9C9o0" alt=""><figcaption></figcaption></figure>

3\. Click Matrix AC button of chosen pool after you visit <https://basedfinance.io/marketplace>.\
&#x20;    You will be redirected to Matrix Farm webpage where you can use 1 asset to zap-in into chosen LP and enjoy auto-compounding rewards by growing your LP position and adding buy pressure to our assets!!!  &#x20;

<figure><img src="/files/LwDHWpwTVLe7pnRkAoKD" alt=""><figcaption></figcaption></figure>

**BASED-FTM-LP**: 0x0981916Bd96d375dAd0067Fd24E19120D2fcF5e6

**BSHARE-FTM-LP**: 0x52A5B9E36F53b54Ed9ddd7a4e66Ac26696E9F0be &#x20;


# How to add FTM Chain to your Metamask wallet

**Step 1.** Metamask setup

* Before being able to buy BASED, we first need to setup our Fantom network on Metamask.
* In order to do so, please open your Metamask wallet and select network; Custom RPC. (See attached image below).

![](/files/cPMbn4LftvsNqCKMcM2K)

* Now put in the following in order to setup your Fantom wallet.
* 1\. **Network name**: Fantom Opera
* 2\. **New RPC URL**: [https://rpcapi.fantom.network](https://rpcapi.fantom.network/)​
* 3\. **ChainID**: 250
* 4\. **Symbol**: FTM
* 5\. **Block Explorer URL**: <https://ftmscan.com/>​

(See attached image below).

![](/files/KX3oShI5IyVEidVObqQM)

Press save, and your FTM Wallet should now show up in the Network selection Tab.

​

​


# Email

basedlabs\@basedhub.io

Feel free to contact us directly through our telegram and discord channels listed under "Socials" or contact us via our e-mail.