BasoX v2

As the first native ve(3,3) DEX to launch on base, we have achieved some milestones and achievements:

1. We had a successful launch, with a peak TVL (Total Value Locked) close to 3 Million. 📈

2. Our total historical trading volume reached nearly 5 Million. 📊

3. Our total trading fees, along with bribes, reached close to 20K. 💰

4. We have integrated with Firebird, Kyberswap, and Beefy in succession. 🤝

As long-term practitioners in the DEX industry, we must continually learn from past experiences and make iterative improvements. 🛠️ We clearly recognize that the most important aspects for a DEX are:

1. Efficiency of the AMM (Automated Market Maker) for LPs and Traders🔄

2. Tokenomics, which can help kickstart and maintain the flywheel. However, the long-term success of a DEX still relies on competitive trading and capital efficiency. 🌐

We have identified several major Issues with Baso v1:

1. The trading experience and capital utilization efficiency of Uni v2 are less competetive than CL. 📉

2. Due to issue 1, the incentives we offer to LPs can only be in the form of $BASO, which, when dumped on the market, reduces the value of the protocol’s incentives. 😕

v2 Enhancements

After careful examination of the product and market, we will introduce the following features in v2:

1. We introduced CL, allowing LPs to earn both more competitive trading fees and farm rewards, making it more attractive for LPs to contribute to the protocol long-term. 🌟

2. LP farm rewards will be in the form of BASOX + vBASOX, where vBasoX is vested BasoX to reduce the impact of farm reward dumps on BasoX price. 🛡️

3. BASOX / ETH LPs can lock in to receive a share of the protocol’s income, making BasoX a real yield token. 📈

Relationship between BasoX and Baso:

1. Baso will only serve as the emission for native pairs like Baso and BasoX, further reducing its total supply and making it increasingly scarce. veBaso can vote for Baso and BasoX pairs and receive all related trading fee income. 🗳️

2. BasoX will serve as the emission for all other pairs. 🔄

3. Holders of veBaso and xBaso, as well as Baso LPs, will receive an airdrop of BasoX. The snapshot has not yet been taken. 🎁

Schedule:

1. Baso v2 will launch on the base testnet this week. Users can participate in the testnet to get BasoX WL. The presale of BasoX is planned for next week, followed by the official launch. 🗓️

2. Users can obtain BasoX WL through the following channels:

3. Participate in the upcoming testnet activities. 🛠️

4. Participate in upcoming Zealy activities. 🎉

5. Obtain WL from partner KOLs and DAOs. 🤝

6. Baso WL will automatically get BasoX WL