One Basis Cash is the algorithm stable DeFi coin of the BSC Binance ecological public chain.
Full name: One Basis Cash
Tokens: OBC, OBS, OBB
The essence of “currency” envisioned by Satoshi Nakamoto is an encrypted native token based on cryptography to achieve decentralization.
Although digital currencies issued by commercial institutions or central banks use blockchain technology, they have strong centralization properties; algorithmic stablecoins are encrypted native tokens that are more in line with Satoshi Nakamoto’s vision. Before introducing algorithmic stablecoins, let’s review the evolution and development of stablecoins, so as to observe how stablecoins realize the “currency” form envisioned by Satoshi Nakamoto step by step.
The representative of the first generation of stable currency is USDT, which tokenizes legal currency and builds an important bridge between legal currency and cryptocurrency.
The second-generation stablecoin attempts to build a decentralized stablecoin, the representative of which is MakerDAO’s DAI. MakerDAO used ETH as collateral in the early days. Based on market risk considerations, it later introduced some centralized assets as collateral, such as USDC and wBTC. After the introduction of centralized assets, although DAI gained stronger stability, it also sacrificed some decentralized features.
The third-generation stablecoin attempts to build native tokens in the cryptocurrency industry. Among them, flexible stablecoins such as AMPL and YAM are represented. These stablecoins do not require the use of collateral and are mainly regulated by algorithms and mechanisms. The third-generation stability is very close to the “currency” envisioned by Satoshi Nakamoto, and its future will become a strong competitor of the blockchain “currency”, but we are more optimistic about the algorithmic stable currency.
The fourth-generation encrypted native algorithmic stablecoins are mainly represented by ESD, BASIS, FRAX, etc. This type of algorithmic stablecoin refers to the previous Basecoin design, and combines the experience of liquid mining and flexible stablecoins, so that it has the potential to be integrated.
In this context, a project with algorithmic stablecoins came out, and One Basis Cash as a representative, referred to the
previous Basecoin design, combined with the experience of liquidity mining and flexible stablecoins, to form a relatively complete set of currency market adjustments Mechanism, the token adjustment of the fourth-generation stable currency One Basis Cash is not global adjustment through smart contracts, but through users’ initiative, and uses economic incentives to stimulate user behavior.
One Basis Cash adopts Binance Chain BSC because of the high transaction fees of Ethereum. Because it is a decentralized product, every transaction will be completed on the chain, and there will be non-stop fee generation. The chain is very hot in the ecological chain just released this year, with low transaction fees and a large number of consensus user bases, so One Basis Cash chose Binance Chain to establish the corresponding ecology.
One Basis Cash draws on the design of Basis Cash and adopts YFI’s fair distribution model.
The basic cash agreement includes three tokens (OBC), (OBS), and OBB), a basic cash share and a basic cash bond, and is designed to move the basic cash toward the price of 1 U.S. dollar. It uses three tokens to achieve inflation and deflation:
OBC is based on real-life US dollars, OBS is based on stocks with Fed voting rights and dividend rights, and OBB is based on US dollar bonds. At the same time, the deadlock caused by the ESD key design is introduced. Bond dividends. The mechanism is as follows:
When the transaction price of One Basis Cash is lower than $0.95, users will be able to purchase One Basis Bond at the price of OBC * OBC to ensure the stability of the OBC price. When the price of OBC is higher than US$1.05, the purchased bonds can be redeemed at a ratio of 1:1.
When the transaction price of One Basis Cash is higher than $1, the contract will first redeem the One Basis CashBonds bond to adjust the price of OBC. If the price of OBC is still higher than $1, the contract will release a new OBC and redeem the OBB first. Then assign it to users who promised OBS in the meeting room.
Circulation:
1. Initial bank pool: 5,000 OBC 5 pools 10,000 each. Digged in 5 days. After that, OBC coins will be obtained according to the user’s pledge of OBS mining. There is no upper limit. As long as the user pledges, OBC will be issued.
2. The total number of OBS is 98,000 and 7 pools have been dug in two years. The team has 16,000 OBS.
3. OBB exchanges OBC for all according to the user.
In the YFI distribution model, we call the YFI pool stored in the stablecoin pool 1, and the YFI pool in YFI-DAI-LP as pool 2. One Basis Cash basic cash model is a pool consisting of 5 single currencies, lasting 5 days, a total of BNB, BUSD, USDT, ETH, BTC pledge pool to generate OBC. One Basis Share has a total of 7 liquidity pools OBC_BNB_LP, OBC_BUSD_LP, OBC_BTC_LP, OBC_ETH_LP, OBS_BNB_LP, OBS_BUSD_LP, OBS_BTC_LP to generate OBS. The output period is 2 years. The issuance of OBS can be rewarded by issuing additional OBC. We will be in two places:
Hold the OBS produced by the OBC market maker;
Hold OBS pledged dividend OBC.
On the other hand, since OBB = OBC * OBC, when the OBC price is oversold, there will be a lot of arbitrage space. This arbitrage space will curb the decline of OBC. Self-feedback enhancement designs such as One Basis Cash have attracted many players and users.
The initial distribution of One Basis Cash basic cash tokens will give priority to users who will be deposited into 5 single currency pool distribution contracts. A total of 5,000 basic cash tokens OBC will be distributed to these “depositors”, and 1,000 will be distributed every day. After that, One Basis Cash will provide liquidity to users in Cake v2’s One Basis Cash (OBC)-LP pool, where users can deposit liquidity provider (LP) tokens into distribution contracts and obtain OBS. The basic “share pool” will allocate basic shares. Initially, a portion of the underlying shares will be deposited first, and then deposited in descending order of 75% every 30 days.
One v2’s basic cash (OBC)-liquidity providers in the LP pool will get more basic cash, because in two years (730 days), a total of 64,000 OBS basic cash will be allocated, and they will be allocated to do homework equally every day.
For stablecoin mining, there are a total of 5000 OBCs, and 1000 OBCs are placed in each pool. A total of 1,000 are dug up every day. Users can dig for five days to complete the stablecoin mining pool. After that, OBC_BNB_LP, OBC_BUSD_LP, OBC_BTC_LP, OBC_ETH_LP, OBS_BNB_LP, OBS_BUSD_LP, OBS_BTC_LP are used to generate OBS, the output cycle is 1 year, and they are also open at the same time. The mining pool can stabilize the currency price of OBC and obtain benefits from OBC lock-in. The return rate of the first Bank mine can reach 1000%, with normal fluctuations of 356%-456%. rate. These 7 trading pairs OBC_BNB_LP, OBC_BUSD_LP, OBC_BTC_LP, OBC_ETH_LP, OBS_BNB_LP, OBS_BUSD_LP, OBS_BTC_LP can achieve an OBS investment return rate of 8000%. If we benchmark https://bdollar.fi/, we can see that now the second LP has a token value of $2,000 each, and OBS will also get an equal return.
Stable coin pool: (OBC reward)
. BNB, BUSD, USDT, ETH, BTC single currency pool
. A total of 5,000 OBCs are mined in the mining pool
LP liquidity pool: (OBS reward)
. BC_BNB_LP, OBC_BUSD_LP, OBC_BTC_LP, OBC_ETH_LP, OBS_BNB_LP, OBS_BUSD_LP, OBS_BTC_LP 7 LP liquidity pools
. A total of 64,000 OBS was mined in the mining pool, and the team issued an additional 16,000 OBS based on the minting, and the pre-sale will have 16,000 OBS.
. A total of 98,000 OBS
. The seven pools sequentially put a total of 9600 OBS, 9600 OBS, 9600 OBS, 9600 OBS, 8500 OBS, 8500 OBS, 8600 OBS to
the LP liquidity pool
. The distribution algorithm of the mining pool is reduced by 75% every month, and the mining will be completed in two years
Bonds: (OBB exchange)
. When the OBC price is lower than US$0.95, OBB can be purchased at the price of OBC²
. When the OBC price is higher than US$1.05, OBB can be redeemed for OBC at a 1:1 rate
The platform description:
Bank: Pledge stable coins to five single currency pools: BNB, BUSD, USDT, ETH, BTC, and get OBC
Share: You need to first combine trading pairs in cake and then pledge to the liquidity mining pools BC_BNB_LP, OBC_BUSD_LP, OBC_BTC_LP, OBC_ETH_LP, OBS_BNB_LP, OBS_BUSD_LP, OBS_BTC_LP 7 LP liquidity pools to obtain OBS Bonds: OBB bonds can be purchased
Boadroom: Staking OBS to get OBC dividends, when the OBC price is higher than $1.05
Advantages of One Basis Cash
(1) Based on the Binance Ecological Chain BSC, the transaction speed is faster, the efficiency is higher, the handling fee is lower, and the operation cost is reduced;
(2) Smart contracts and smart monitoring on the chain improve the efficiency of gas usage for investors;
(3) The team has many years of experience in the field of blockchain smart contract development and financial system development, which fully guarantees the safety of user assets;
(4) In-depth cooperation with multiple projects in the BSC ecosystem, with richer revenue models and product forms. (5) Users can staking to mine, and mine is fair based on a block in 3 seconds. Time-saving, labor-saving, safe and convenient.
