Buy Base Protocol (BASE)
What is Base Protocol?
Base Protocol is a decentralised financial application built on the Ethereum blockchain. It is designed to maintain a stable value for its native currency through an algorithmic approach, pegged to the total market capitalisation of all cryptocurrencies at a ratio of 1:1 trillion. The protocol integrates a Chainlink oracle and offers a single token for traders to speculate on the entire crypto market.
How does Base Protocol work?
Base Protocol functions by using an elastic supply mechanism to achieve a target price equilibrium. The number of tokens in circulation can automatically expand or contract to maintain the peg to the overall cryptocurrency market cap. This process, known as rebasing, is supported by Ethereum smart contracts, which are self-executing and enforce the terms coded within them. The protocol benefits from Ethereum’s consensus mechanism, leveraging its transition to Proof of Stake (PoS) with Ethereum 2.0.
What are the potential use cases for Base Protocol?
Potential use cases for Base Protocol include speculative investments on the entire crypto market, serving as a stable store of value and a means of exchange. In decentralised finance (DeFi), it can also be utilised as a hedging instrument, as a lending vehicle, and as a base pair for trading. Additionally, it acts as a price reference across all cryptocurrencies, offering insights for traders to evaluate market performance.
What is the history of Base Protocol?
Base Protocol was founded by Nick Ravanbakhsh and Dylan Senter. It is positioned to provide a decentralised financial ecosystem by harnessing the Ethereum blockchain. Over time, it has become part of the broader Coinbase vision to develop an equitable and trust-based financial system, transitioning from a corporate-centric to a community-driven model. Although closely tied to initiatives like the Base Network, the token maintains its distinct identity within the crypto ecosystem.
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Frequently Asked Questions (FAQs)
What is the current price of Base Protocol (BASE)?
The Base Protocol price is $1.4846 AUD, representing a -2.83% from the day prior.
Where is the best place to buy Base Protocol (BASE) in Australia?
The best place to buy Base Protocol (BASE) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Base Protocol (BASE) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Base Protocol (BASE)?
The trading volume of Base Protocol (BASE) is $8.7K AUD in the last 24hrs, representing a -2.83% from the day prior.
How can I buy Base Protocol (BASE)?
Base Protocol (BASE) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Base Protocol (BASE)?
The current market cap of Base Protocol (BASE) is $695.9K AUD.
Can I convert Base Protocol (BASE) to cash?
Yes - With Coinstash you can convert your Base Protocol (BASE) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Base Protocol (BASE) are there?
The current circulating supply of Base Protocol (BASE) is 480.7K.
Is Coinstash a safe place to buy Base Protocol (BASE) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Base Protocol (BASE) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.