Basis star

Basis is a stable coin pegged to arbitrary assets or goods remaining fully decentralised and always pegged to 1 USD. Furthermore, Basis has the option to be updated to peg to a Consumer Price Index (CPI) or a basket of goods. The Basis stability system uses common investment incentives and instruments, similar to traditional bonds and equity shares, this means the market participants help the coin maintain exchange rate stability. As an example, if the value of Basis token falls, the system creates new bonds worth one Basis token each. The bonds are then sold by the system for Basis tokens, reducing the token supply and driving the token price back up to the targeted value.

The Basis project reported in April $133million of funds raised from 225 investors (e.g. Andreessen Horowitz, Bain Capital Ventures, Pantera Capital, Polychain, and Digital Currency Group) and also attracted distinguished advisors such as Stanley Druckenmiller and economist John Taylor.