Wednesday, November 25, 2020

EPIC Debate: Are “Rebases” Useful Financially? – With Base Protocol

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Rebase tokens are gaining popularity – where a token adjusts its supply according to a particular price peg. We’ve seen the rise of AMPL, where it targets $1 USD. We debate with Based Protocol’s Nick Ravanbakhsh over the usage of rebasing protocols to create valuable synthetic assets.

Michael’s STANCE: REBASE functions are fundamentally useless – nothing more than a meaningless function to hide a coin’s pump. Rebased coins should be evaluated by “market cap” rather than price, and if is the case, it cannot be used to hold price pegs.

Nick’s STANCE: Rebase functions are useful for creating a synthetic asset that follows the price of a particular index. Nick created “BASE PROTOCOL” which his white paper argues can be used to allow speculators to get exposure to all cryptocurrency assets.

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I’m not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.