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