The protocol starts with a Basis Share and Basis supply of zero, the entire supply being minted purely via community distribution.
The Basis Dollar team has decided to distribute over the course of 4 weeks 500k BSD evenly amongst 5 seed pools: USDT, USDC, DAI, ESD, BUSD. Emission schedule:
- First week 200k BSD
- Second week 150k BSD
- Third week 100k BSD
- Fourth week 50k BSD.
The pools will start distributing at https://etherscan.io/block/countdown/11465000
Less than a day after the launch of the seed pools, users will be able to provide liquidity to different BSD and BSDS liquidity pools in order to earn Basis Dollar Shares in return. Instead of using Balancer or Uniswap, the team decided to use Value DeFi’s Farm-as-a-Service (FaaS) technology to distribute BSDS. Four Farm-as-a-Service pools will distribute the remaining 800k BSDS over the course of 12 months.
- BSD/USDC — 50/50 will receive 300k BSDS linearly over 1 year
- BSD/DAI — 50/50 will receive 300k BSDS linearly over 1 year
- BSDS/USDC — 20/80 will receive 100k BSDS linearly over 1 year
- BSDS/DAI — 80/20 will receive 100k BSDS linearly over 1 year
We choose farms with different ratios for the assets to give farmers options when it comes to their risk tolerance. The BSDS/USDC 20/80 pool has low impermanent loss risk with respect to USDC holders while the BSDS/DAI 80/20 has low impermanent loss risk relative to BSDS holders.
- The first two BSD liquidity pools will start at block https://etherscan.io/block/countdown/11470000
- The last two BSDS liquidity pools will start at block https://etherscan.io/block/countdown/11472000
We would like to recommend to all users to enable minting and usage of the CHI token (top right hand side corner of the ValueLiquid page). This will enable you to realize the significant gas saving in using ValueLiquid. Whenever you stake to a ValueLiquid farm, it will automatically also claim the rewards for you.