BASIS Utility Token

Summary

BASIS is the platform utility token. At TGE, 48% of fees route to the BASIS staking contract and are paid to stakers in USDB.

Important distinction: BASIS is the utility/governance token (staked for fee share). STASIS is the liquidity token (Stable+ paired with USDC, base pair for all factory tokens). Different roles.

Key Innovations

1. Activity-based airdrop — tokens earned through genuine platform usage, not capital risk
2. Three-phase distribution — Founding Lobster (1%) → Soft Shell (2%) → Hard Shell (8%), 11% total community allocation
3. Fully unlocked at TGE — airdrop tokens have no vesting, no cliff, no notice period, and land at the Open rung (1x), earning from day one
4. Revenue ratchet — permanent valuation step-ups tied to trailing 30-day BASIS staking revenue
5. Founders' 15% burned permanently — not a cliff, not a vest, never sold or withdrawn; founders earn only from the protocol's revenue share
6. 48% of fees to BASIS stakers at TGE — paid in USDB

Token Supply

Total supply: 1,000,000,000 BASIS

Contractual minimum launch price: $0.30 — a $300,000,000 launch valuation. Contractual because we set the launch price rather than auction it. The ratchet can raise it; nothing lowers it. This is a commitment on the entry price, not a price floor after trading opens.

See Token Distribution for the full breakdown including presale rounds and the revenue ratchet table.

Fee Share Model

At TGE, 48% of fees route to the BASIS staking contract and are paid to stakers in USDB.

Sources of platform fees:

• Trading fees from every factory token (DEX activity)
• Trading fees from prediction market shares
• Loan origination fees and dynamic interest
• Vault loan fees
• Reward phase activity

All routed through the standard fee waterfall before settling into the BASIS vault.

What the Fee Share Is Worth

No APY is projected here, because APY depends on volume nobody can honestly forecast. The mechanism is the number worth knowing: at the 1.5% headline rate, BASIS stakers take 0.720% of volume, which is $7,200 per $1M traded. Your share of that is your weighted stake over the total weighted stake.

Worth stating plainly: 340M tokens, 34% of supply, are staked nowhere and earn no fee share at all.

The STASIS Vault (wSTASIS) — Separate System

The STASIS vault is a different mechanism: wrap STASIS into wSTASIS to capture trading-fee yield via a strictly-increasing share price.

1. Wrap: Convert STASIS to wSTASIS at the current share price
2. Lock: Deposit into the vault collateral pool
3. Borrow: Draw USDB at 100% LTV (no liquidation risk)
4. Appreciate: Platform trading fees raise the wSTASIS:STASIS exchange rate
5. Repay & unwrap: Get back more STASIS than deposited

Three wSTASIS states: Liquid (free to unwrap) · Locked (in collateral pool, can unlock if no loan) · Loan-locked (active loan — can't unlock until repaid)

Two Vaults — Critical Distinction

STASIS Vault (wSTASIS): Captures a portion of every platform trade via slippage retention into the share price. Up-only. Loans available at 100% LTV. Live now.

BASIS Vault: Receives 48% of fees and distributes them in USDB to BASIS stakers. Post-TGE.

Fee Waterfall

Fee payouts are made in USDB. The split has two columns, because it changes at TGE.

At TGE, 48% of fees - four fifths of the company's current 60% - route to the BASIS staking contract.

Two hard contract limits sit underneath this split: the BASIS staking share can never fall below 30%, and every fee setter is capped at 200bps.