BXC, BXS, and BXB. BasisX has 50,000 BXC mined at an early stage and supports mining with multiple tokens including HUSD,HT,HBTC,HDOT,HETH. In BasisX, users can not only obtain revenue through staking BXS and BXC to provide liquidity, but also through the allocation revenues that BXS holders
BasisX mechanism works
The BasisX protocol consists of three tokens: BXC, BXS, and BXB. BXC and BXS can be obtained by liquidity mining, where BXC is pegged to USD and value fixed at 1 USD, BXS holders participating in the board staking can gain premium income of BXC inflation, and the board mining will start 6 days after the project launches. BXB is a bond issued to repurchase BXC when the price of BXC is less than 0.95 USD, and BXB holders can exchange BXC at a 1:1 ratio when the price of BXC exceeds 1.05 USD. The BasisX protocol
BasisX protocol sets a token price stabilization threshold
BXC at some point in the future under certain conditions. Whenever a user purchases BXC, BXB is burned, causing a decrease in the circulating BXC supply. BXB do not have interest payouts, nor do they have maturity or expiration dates. Rather, they can be redeemed on a 1:1 ratio with BXC when the price rises above $1.05.
BXC is above $1.05. This prevents BXB holders from cutting their losses on redemptions and creating unnecessary increases in supply.
BXB is redeemed, if the price of BXC is traded above the price of $1, an increase in the demand of BXC results in new BXC tokens being minted and distributed to BXS holders.
BasisX opens 6 initial pools where users can stake HT, HUSD, HBTC, HDOT, HETH. 5 HRC-20 assets in total to participate in BXC mining.
supply of BXC is 50,000, and will be proportionally allocated as a bonus to each pool: HUSD 25%, HT 25%, HBTC 25%, HETH 20%, HDOT 5%. The total initial supply will be released linearly in 5 days.
BXS allocation will start immediately after BXC distribution starts, with a total of 1,000,000, will all be distributed
Stake BXC-HUSD LP for BXS: 750,000 BXS (75%) will be produced, starting at 6,250 BXS per day and decreasing by 25% every 30 days thereafter.
Stake BXS-HUSD LP for BXS: produce 250,000 BXS (25%) and continue to release linearly for 365 days.
launch of BasisX on the Huobi ecosystem is a great recognition of HECO’s leadership in the DeFi industry. We invite all participants and users of Huobi, HECO and other DeFi
launched on January 18, 2021.
can withdraw their USDT, USDC, BTC, HT tokens on Huobi to Tokenpocket.
Official website: https://basisx.io
Twitter: https://twitter.com/x_basis
Telegram group: https://t.me/BasisxOfficial
Telegram channel: https://t.me/BasisXAnnouncement
AUTHORS INFORMATI
Bitcointalk Username:Royel123
Bitcointalk Profile Link:https://bitcointalk.org/index.php?action=profile;u=1949513;sa=summary