McBase Finance — the world's first Binance Smart Chain cryptocurrency, pegged to the Big Mac price. $ MCBASE is an Elastic Offering BSC Token (similar to Ampleforth - $ AMPL), pegged at $ 5.66.
Contents:
- About McBase Finance
- Relocation mechanism action
- Details on starting $ MCBASE
- More information on McBase Finance
About McBase Finance
McBase uses the Big Mac Index, an indicator, invented by The Economist magazine in 1986, as an easy benchmark to determine if fiat currencies are at the “correct” level. The Big Mac Index runs on the theory of purchasing power parity and the idea that, in the long run, the exchange rate should approach a rate that would equalize the prices of an identical basket of goods and services in any two countries.
Burgernomics works as a tool to make exchange rate theory more convenient. However, the Big Mac Index has become a global standard, included in several textbooks on economics. A key obstacle to the implementation of DeFi is the inability of people to assess the real purchasing power of a particular asset. Using the Big Mac Index, it can be seen that it provides a simple and affordable means by which the relative purchasing power of cryptocurrencies can be measured.
To get a clear idea of the real purchasing power of a cryptocurrency in their national economy, an individual must:
| 1 | Convert Crypto A to USD. |
| 2 | Convert US dollars to your national currency. |
| 3 | Apply local currency value to the consumer product. |
When using $ MCBASE, you only need to consult the Big Mac index value of the respective cryptocurrency in order to understand the real purchasing power of that asset immediately. The $ MCBASE token achieves its peg to the Big Mac price ($ 5.66) through a "rebase" mechanism that increases or decreases the total supply, based on the difference from its pegged price.
Relocation mechanism action
The rebase event occurs twice a day (every 12 hours). When the 12-hour TWAP for MCBASE exceeds $ 5.66, it is in an expansion phase and the total supply will increase. This increase in supply causes the $ MCBASE price to decline, approaching the peg. Conversely, when the 12-hour TWAP is at $ MCBASE below $ 5.66, it is in a contraction phase and the total supply will decline. Each owner will lose tokens in their wallet. This decrease in supply results in an increase in the $ MCBASE price, approaching the peg.
Intuitively, most holders will prefer expansion cycles to compression cycles. However, it is important to note that since all holdings will increase or decrease by the same percentage during the relocation, your share of the total market capitalization remains the same during both cycles. In addition, there is a constant "rebase delay" to smooth out supply increases / decreases over several periods, so the system will be less "shocked". The initial rebase delay is 5, which means that if the price increases by 20% from the peg, the extension will be 4% (20/5).
Details on starting $ MCBASE
$ MCBASE — the world's first 100% fair launch rebase token. Unlike other Elastic Offering tokens such as $ AMPL or $ BASE, $ MCBASE is launched directly in Pancakeswap without prior sale. This means that there are no seed investors or pre-sellers who bought tokens for pennies on the dollar. The team plans to launch with its own liquidity (70% of which will be blocked), and also creates additional liquidity incentives, including a "Sharebox" or a geyser, which will reward liquidity providers with $ MCBASE reward tokens with multiplier bonuses.
More information on McBase Finance
There is no WhitePaper document on the site. Instead, there is an article on the Medium blog. Thus, you can familiarize yourself in more detail with the rules and features of the project.
From social networks, the community leads:
- twitter;
- telegram.
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