Tokens

Note: There is a modest burn tax on house tokens, enhancing scarcity, curbing inflation, and ensuring price sustainability. 100% of the tax will be burned, removing tokens from circulation.

House Tokens

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

$BRATE

The $BRATE token is outlined for use as a medium of trade, and is intended to have many other use cases as the ecosystem grows. BRATE is algorithmically pegged to Ethereum (ETH)

Note: $BRATE actively pegs via an algorithm, it does not mean it will be valued at 1 $PRATE: 1 $ETH at all times as it is not collateralized. $BRATE is not to be confused for a crypto or fiat-backed stablecoin.

$BSHARE

$BSHARE is one of the ways to measure the value of the Based Rate Protocol and trust in its ability to maintain $BRATE close to peg. During epoch expansions the protocol mints $BRATE and distributes it proportionally to all $BSHARE Stakers in the Boardroom who have staked their tokens.

$BBOND

$BBONDs main job is to help incentivize changes in $BRATES supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $BRATE falls below 1:1 $ETH, $BBONDs are issued and can be bought with $BRATE at the current price. Exchanging $BRATE for $BBONDs burns $BRATE tokens, taking them out of circulation (deflation) and helping to get the price back up to peg.

These $BBONDs can be redeemed for $BRATE when the price is above peg in the future. This amounts to inflation and sell pressure for $BRATE when it is above peg, helping to push it back toward 1 $BRATE to 1 $ETH ratio.

If your $BRATE is below peg and you exchange it for $BBONDs and redeem after peg is back above 1.1 you'll receive bonus $BRATE! All holders are able to redeem their $BBOND for $BRATE tokens as long as the Treasury has a positive $BRATE balance, which typically happens when the protocol is in epoch expansion periods.