Introducing Basis, a Stable Cryptocurrency with an Algorithmic Central Bank*

medium.com

21 pointsrjfreling4 comments

What does raising $133M mean in this context? Is this money that "seeds" the currency? Or is it actually money available to the founders to run the business, make hires, etc...

Basis reminds me a bit of Tether - hopefully with a bit more transparency around where the money actually is.

I think the crypto wars have a long time to play out - but I think ETH wins out because of blockchain externalities.

basis is a whole different use case than eth or btc. It aims at providing a purely transactional currency that is stable and has no risk of losing value. Hence people should have no risk switching fiat into it and they still have the benefits of blockchain. the money is available to the business imo.

What is the reason for the name change?

We wanted something that was more in line with our product vision. We hope to be a major unit of account, functioning as a basis of value.

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