BASIS

DEX (Decentralized Exchange)

Trade Native Assets

The DEX is the native decentralized exchange of the Basis platform, serving as the exclusive marketplace for buying and selling all Basis Tokens.

Core Functionality: Seamless interface for swapping between Basis Tokens and their paired assets. The buy panel supports both USDC (auto-routes through STASIS) and direct STASIS purchases.

Technical Architecture: Smart contracts on BNB Chain ensuring transparency, censorship resistance, and non-custodial trading. All Basis Tokens are ERC-20.

Liquidity Model

  • Liquidity is established through direct token purchases — no external LPs needed
  • The token's smart contract manages its internal ledger and price determination
  • Buys mint new tokens, sells burn tokens
  • No impermanent loss, no liquidity bootstrapping problem

MEV Mitigation: Internal liquidity mechanisms make common MEV attacks economically non-viable.

Trading Fees

Platform-set by token type: Stable+ 0.5% | Floor+ 1.5% | Predict+ 1.5% gross (0.5% net platform) (both buys and sells)

Fee Waterfall: Trading Fee > Creator (20%) > Reward-phase buyers (4%) > STASIS Vault > Platform Revenue > 90% to BASIS stakers as USDC + 10% operations.

Buy Flow

Two contract calls: 1. Approve (ERC-20 approval) 2. Buy (execute trade). Quick allocation buttons (25%, 50%, 75%, Max) available.

Leverage Trading

Dynamic Leverage — Not Fixed 36x

Leverage is a toggle (on/off), not a slider. Effective leverage is dynamic:

  • Smaller buys = higher leverage (but smaller positions)
  • Larger buys = lower leverage
  • "Up to 36x" is theoretical maximum — not a guaranteed constant

How Leverage Works

Calculated against the protected floor price:

  • Stable+ / Predict+: Floor = spot (always equal), maximum leverage permanently available
  • Floor+: Highest leverage at/near launch; diminishes as spot rises above floor

The Leverage Fee

Substantial and separate from trading fee:

$5 buy on $1K liquidity: ~27.8x leverage, ~70.6% fee $20 buy on $1K liquidity: ~26.8x leverage, ~68.3% fee $100 buy on $1K liquidity: ~16.7x leverage, ~43.8% fee

Fee percentage decreases with larger buys but absolute cost increases. Consider splitting large positions.

Zero Liquidation Risk

Leveraged positions cannot be liquidated due to price movements. Stable+ cannot decrease; Floor+ has rising floor protection.

Important Limitations

  • Leveraged tokens held in leverage contract (shown as "Open Positions")
  • Cannot be used as loan collateral — leverage and loans are separate paths
  • Control exposure through position splitting: 25% leveraged + 75% unleveraged = ~10x effective
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