Review on Based Money by LUIS RIVERO R
Price-based issuance protocol, using UNISWAP oracle
This is another token launched by a DEFI service, its only support is its applications. Its maximum price in recent months reached more than 2500USD, however now its position is just a few cents-
Important features of this DEFI.
Utility: basically a gambling game.
Anonymous development team.
Their contract code is based on the YFI distribution process, supposedly the only pre-established rule is that the protocols and processes will only change since the access keys were burned.
Now what makes this project special?
According to its developers, who are clearly anonymous, they established a supply mechanism in which an automatic adjustment is made every 24 hours so that its value has a value trend of 1USD.
In general, there is not much to comment on this project, it is simply a token that increases or decreases its circulating volume depending on its price.
However, the code does not have audits tested by community members or third parties, which is somewhat insecure since it cannot be verified if it really meets the standards.
Another really relevant aspect is its website, the truth is I don't like it and from the beginning it gives me a lot of distrust
Pros
- The price of the token is based on an algorithm that regulates its circulating volume.
- Good return for the holders.
Cons
- Verified market volume is still low.
- The website in general does not give me confidence personally, but you can access and make your own decision.
