What is Based Finance?

Based Finance is a decentralized finance (DeFi) platform that offers its users a variety of innovative financial products and services such as lending, staking, and providing liquidity. The main goal of Based Finance is to create a fair and transparent financial system that allows users to actively participate in various DeFi operations. On the Based Finance platform, users can earn tokens by participating in staking and providing liquidity in different pools. The platform's token is typically used for governance, giving the community the ability to vote on proposals and influence the development of the platform.

Based Finance real time data

As of July 27, 2024, there are 9 trading pairs on Based Finance DEX. The TVL (total value locked) is $119,479.56, with a trading volume of $18,094.43 in 244 transactions with in the past 24 hours.

Frequently Asked Questions

Who created Based Finance and when was it created?

Based Finance was launched in February 2022 by a team of 14 people. The protocol was originally tied to Tomb, one of the leading projects on the Fantom network.

What advantages does Based Finance offer?

The key benefit of Based Finance is the creation of a stable BASED cryptocurrency backed by FTM. The protocol also offers stacking and farming capabilities for rewards.

Which proprietary token is used in Based Finance?

Based Finance's proprietary tokens are BASED and BASED Shares (BASEDSHARES). BASED is the main token of the protocol and BASEDSHARES is used to manage and receive a portion of the fees.

What features does Based Finance have?

The main features of Based Finance are the algorithmic binding of BASEDs to FTMs, a mechanism to burn BASEDs to increase the value of the token, and the ability to stack and farm for rewards.