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Basis Cash Launch Revives Defunct Stablecoin

Basis Cash is making its way back into the market and users might have a real chance to make strong earnings. The Basis Cash will be based on stablecoin basis which bagged $133 million funding right ahead of the U.S. securities regulators stepped in and the team behind it returned everything in late 2018.

Incidentally, it will also be the first Basis-inspired stablecoin to be launched. Remarkably, Empty Set which came out in August, has now bagged more than $100 million in market capitalization.

Basis Cash (BAC) is pegged to the U.S. dollar, so one BAC should be equal to the crypto equivalent of one USD. Basis Cash’s price will be managed by two other crypto assets: Basis Bonds and Basis Shares (more on what each does in the next section).

Beginning at the end of November, 50,000 BAC will be distributed over a five-day period (10,000 per day) to folks that deposit any of these five stablecoins into its smart contract: DAI, yCRV, USDT, SUSD and USDC.

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