The Basis on ETH platform, a mirror of Nu


Basis Share = Nushare
Basis Coin = Nubit
Basis bond = parking mechanism

So let’s watch what will happen after Basis Coin pegging broken now, this is actually a liquidity engine experiment on ETH smart contract platform where the DEX (Uniswap) is ready.

@Phoenix what’s your opinion? Nu’s idea is not new now, perhaps we shall consider restart on a smart contract platform such as ETH.

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Issuing currency on the Ethereum network in addition to our native blockchain would be a good way to increase our market reach.

I suggest to restart our Nu ecosystem on ETH since DEX is quite mature there, so we don’t have to develop Blockchain project. Just need to make a distribution plan for Nubit/Nushare/BKS holders and reset. BTW, let wait for Basis story and revise our mechanism if possible.

Marketing NuBits in the Ethereum ecosystem would be great for us. DEX developed there would also be quite useful to us. However, I believe NuShares need to stay on our independent blockchain. The attributes of NuShares and our blockchain cannot be replicated within Ethereum. While we would need to be prepared to support it, I think it would be a great direction to go once we have more funding. To be clear, we could keep our native blockchain just as it is, managing NuBits and NuShares. We can create additional NuBits on Ethereum. Tether started on the Bitcoin blockchain, and then created Tethers on Ethereum.

Good idea, but let observe the Basis project first, their pegging broken now,

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BAS Trading Volume/24h $7,364,347.23!
Why is this coin so popular? is it about marketing?

It is so called the 3rd generation of stable coin in this DeFi fashion, however, its mechanism is not new for Nubit community. I admit that Phoenix is ahead of these “innovations”, but as you see, this liquidity engine seems stalled.

Nubit had a centralized liquidity provision in 2015-16, we sent bonus to LP, is this the earliest “liquidity mining”? Am I right? @Phoenix . All we need is a DEX(Blockchain Project), but even with a good DEX, I still doubt about this liquidity engine, so let’s see Basis.

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Vitalik is not fond of yield-farming.