The objective of the Basis project is to create a token that has a reasonably stable value and which would be used to facilitate exchange between users. Just as the central banks would expand or contract the money supply based on inflation or deflation rates, the Basis protocol is expected to do same, but on a decentralized algorithmic platform. Hence, the reason why it is referred to as an “algorithmic central bank”.
A new stable coin offers 133 million reasons for an algorithmic central bank
The objective of the Basis project is to create a token that has a reasonably stable value and which would be used to facilitate exchange between users. Just as the central banks would expand or contract the money supply based on inflation or deflation…