What Is Based Finance Next Gen (OBOL)?
As big supporters of TOMB the seigniorage system that has been successfully running for months. Based Finance Next Gen supported their protocol by pegging BASED to TOMB, henceforth providing new use cases for TOMB, as well as increasing TOMB’s liquidity on the Fantom ecosystem. Now given the recent market conditions, your research umbrella, Based Labs, has built a new protocol which is prepared for long term stability (2 years). OBOL is a PEGLESS token. The protocol’s underlying Perpetual Print (PP) mechanism will continue emitting OBOL.
Omniportal will let you transfer easily your NFTs between wallets and bridge your NFTs to other chains! Future plans include on development of a Launchpad for new collections that wish to take part in NFT development in the space and many partnerships to come. Features will be injected in protocol at best times to help maintain buy pressure and price discovery of both tokens OBOL and SMELT! Based Finance Next Gen LABS started creating revenue streams that will keep feeding Based Ecosystem and will be deploying full force on any chain that suits your needs at given time.
Based Finance Next Gen Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Based Finance Next Gen |
| Short Name | OBOL |
| Circulating Supply | 23,493.00 OBOL |
| Total Supply | 97,706 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Future Utility
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the BASED team will maintain a focus on innovation around enhanced functionality and use cases. The Based Finance Next Gen Labs tokens WILL support a Multi-chain ecosystem. More info will be provided in future articles and updates.
Based Finance Next Gen will be implementing Genesis pools to provide initial token allocations of OBOL. They believe Genesis pools provide the best bot protection, and will also incentivize user added liquidity which is extremely beneficial for a new protocol. This mechanism provides a slow constant burn on $BASED token while avoiding dilution of the staking pools made for Prometheus in Based Next Gen protocol. Based Lab’s vision is to keep burning supply of $BASED and OBOL with every new protocol launched on any chain. It will have direct impact on circulating supply and health of the Based ecosystem.
Tokens
Based Finance Next Gen is a pegless algorithmic token. The protocol’s new Perpetual Print mechanism will mint OBOL no matter the relative price. They have found great success in other protocols which implemented buy/sell taxes, and they will be using those to both support burning and auto LP mechanic as well as reduce the impact of auto-compounders on the token prices. Based Finance Next Gen has a 10% sell tax and a 0% buy tax in order to maintain constant growth in value. OBOL has elastic supply feature embedded in it, which means it will be constantly burned and minted as desired to keep healthy growth and reduce unnecessary expansion.
SMELT (BSHAREv2) is one of the ways to measure the value of the Based Finance Next Gen Next gen Protocol and shareholder trust in Perpetual Print Mechanism. During every epoch the protocol mints $OBOL and distributes it proportionally to all $SMELT holders who have staked their tokens in the Boardroom (Acropolis v2).
Boardroom UI Available Information
Next PRINT indicates a countdown timer to the next epoch. (Each epoch duration lasts for 24 hours). Based Finance Next Gen APR refers to the simple returns in USD value relative to the amount of SMELT staked (USD value). APR fluctuates from time to time and is dependent on certain factors such as:
- Price of OBOL
- Price of SMELT
- Amount of SMELT staked in Boardroom (Locked Value)
