BAGS (Basis Gold Share) Introduction

1. Brief Introduction

Basis Gold is a non-custodial algorithm stable coin project powered by Heco Chain!

2. Detailed Introduction

Basis Gold protocol consists of 3 tokens — Basis Gold (BAG), Basis Gold Share (BAGS) and Basis Gold Bond (BAGB). Basis Gold and Basis Gold Share can be farmable by depositing certain assets. In this system, Basis Gold is the stable coin considered to be valued at $1 while BAGS holders share the inflationary money supply of Basis Gold. Basis Gold Bond may be purchased at a certain discount to maintain the stability of Basis Gold price with the assumption of future profits upon redemption.

3. Token Allocation

  • Team: 0
  • BAGS-HUSD LP LP pool: 12.5%
  • BAGS-HBTC LP pool: 12.5%
  • BAG-HUSD LP pool: 37.5%
  • BAG-HBTC LP pool: 37.5%
  • Private Sale: 0

4. Token Information and Release Schedule

  • Total supply: 1,000,000 (Updated on 2021/01/13)
  • Current circulating supply: 43,865 (Updated on 2021/01/13)
  • Release Rules

750,000 BAGS will be equally distributed to users who provide liquidity to BAG-HUSD,BAG -HBTC LP pools with 3,080 daily BAGS distribution in the first 30 days, the distribution will be decreased every 30 days by 25% since then, meaning that the inflationary distribution will decrease from 3,080 to 2,310 till February 2021.

5. Related links

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error or omission. Huobi does not take responsibility for any resulting direct or indirect losses.