Review on Based Money by Pedro O. Alvino M.
Ethereum Chain-Based Yield Agriculture Project
Project with a DeFi structure that proposes users a way to obtain rewards based on the amount of BASED tokens that is blocked, given its protocol allows a wide security in the transfer of tokens by contracts and volatility of the BASED token.
Many of the projects that offer currency blocking for a great benefit of tokens are highly demanded by users, given the great long-term benefits they have, but many are based on the native token such as Based Money, which thanks to Its protocol based on its token reduces the risk of volatility, a greater equality in the blocking system that it provides with other platforms in the Ethereum chain.
However, a problem that is developing in most of the projects of this caliber in the Ethereum chain is the enormous cost of fees that this generates, either due to blocking by contracts and withdrawal of rewards, which said fee can exceed or generate less benefits for many operators.
Pros
- Designed as a DeFi ecosystem based on the Ethereum chain.
- It has a protocol designed for its BASED token to reduce the volatility of the token.
Cons
- It has very few holders unlike other DeFi projects in Ethereum.
- The fees for contracts within the platform are extremely high.
- Much of the token lock service comes from external projects.
- The amount of token transfers are very few and old.
