Basis Bond Redemption Pool
A Debt Reduction Mechanism For The Basis Cash Protocol
The BAB Redemption Pool is live!
The pool has been funded with 150K BAC from the following sources:
Basis Lending Profits: 5,000 BAC
Repurchase by Team Fund: 145,448.515 BAC
Users can deposit BAB into the redemption pool with a settlement window of 24 hours.
During settlement, if the amount of BAB in the redemption pool is X and the available BAC for redemption is Y:
If X > Y, the BAB redemption price will be Y/X BAC
If the X < Y and the BAB redemption price is 1 BAC, the remaining BAC will stay available in the redemption pool for the next cycle.
In order to protect users and ensure a reasonable redemption price for BAB, there is an upper limit on the BAB that may be deposited.
Based on the BAC currently available for redemption, the maximum number of BAB that can be deposited in this redemption pool is 2,256,727.72.
In order to allocate more resources to the redemption pools, BIP-19 to modify the BAC vault strategy and optimize the allocation of BAS is the next priority.
To help Basis Cash reduce its debt burden as early as possible, you can help by donating ETH/BAS/BAC/DAI/USDT, and all donated funds will be utilized for debt redemption.
The Basis Cash team appreciates your continued support!