Dubai, United Arab Emirates--(Newsfile Corp. - May 20, 2022) - In a recent announcement, Based Finance revealed its plans to use the $BASED cryptocurrency to power a new decentralized marketplace. This marketplace will allow investors to buy and sell unique digital assets called Non-Fungible Tokens or NFTs. As a pilot mint with Titan God of Fire, Prometheus, drags closer and closer; the company shared a little sneak peek at what's to come with their community.
These tokens will be used to represent goods and services in the new marketplace, which is being developed in partnership with Pod Town. According to the developers, this new platform will offer several benefits over traditional eCommerce platforms, including lower fees, more secure transactions, and improved transparency. $BASED will be used as the primary currency on this platform, making it easier for users to buy and sell goods and services.
The company has partnered up with well-renowned artist and extremely talented Arkin Tyagi who is known for his best work in NFT circles. The company's founder said, "It is a great opportunity to be working with Arkin. His experience and talent will be invaluable as we launch our new marketplace. We're absolutely thrilled about how everything is coming together and couldn't be more excited to announce more, but that's all we can share for now."
Arkin added, "I am excited to be working with Based Finance on this new project. I believe that the combination of my art and their technology will create a truly unique and powerful platform."
While the new marketplace is still in development, the team is working hard to bring it to life. In the meantime, people can expect more updates and sneak peeks of the artwork in the future too. The company's commitment to large investors and the community has shown tremendous potential. The team has further announced an OTC swapper, Katastima, which allows people to purchase and sell tokens on the market with 0 fees.
"We'll be waiting to hear from the community about what assets you want to be able to trade on our OTC market and will ship a detailed update when Katastima goes live."
The user-driven UI updates are another attempt to show the community that their experience is a priority for the company. The new features are designed to make the investing experience more user-friendly and intuitive.
The Based Finance team is currently working on Protocol Drachma and aiming to increase the utility of $BASED in the coming months. The team, treasury, community and partners are constantly working at keeping the peg close. They have pioneered staying connected with their community and consistently smashing that top 10 volume on the FTM network.
About Based Finance
$BASED is an algorithmic token pegged to $TOMB. The protocol's underlying mechanism dynamically adjusts $BASED supply, pushing its price up or down relative to the price of $TOMB. Based finance is a multi-token protocol and aims to create a safe environment for investors to use their hard-earned gains without the looming fear of being exploited.
Media Contact: Company: Based Finance, Email: firstname.lastname@example.org
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SOURCE Vehement Media Private Limited