
Introducing Basis, a Stable Cryptocurrency with an Algorithmic Central Bank* - rjfreling
https://medium.com/basis-blog/introducing-basis-a-stable-cryptocurrency-with-an-algorithmic-central-bank-7a795393a525
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anonu
What does raising $133M mean in this context? Is this money that "seeds" the
currency? Or is it actually money available to the founders to run the
business, make hires, etc...

Basis reminds me a bit of Tether - hopefully with a bit more transparency
around where the money actually is.

I think the crypto wars have a long time to play out - but I think ETH wins
out because of blockchain externalities.

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yayr
basis is a whole different use case than eth or btc. It aims at providing a
purely transactional currency that is stable and has no risk of losing value.
Hence people should have no risk switching fiat into it and they still have
the benefits of blockchain. the money is available to the business imo.

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hisabness
What is the reason for the name change?

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rjfreling
We wanted something that was more in line with our product vision. We hope to
be a major unit of account, functioning as a basis of value.

