$BASH Token: Utility & Use Cases
At Bashoswap, we care about the long-term success, sustainability and longevity of the ecosystem we are building.
For any project that’s building a massive protocol like ours, that would be able to process thousands and potentially millions of transactions daily, there should be an extensive thought put into the tokenomics and the utilities that the underlying token offers.
We have in a previous medium post shed light on the Tokenomics of $Bash Token
At the core of the Bashoswap protocol is the $BASH token, the utility token powering the Bashoswap Ecosystem.
This article will outline an overview of the $BASH token’s utility, and how it operates within the Bashoswap Ecosystem.
As we progress towards the April 5th private sale date, we have been able to bring on strategic partners and very competent team members and developers that are constantly ideating, sharing their experiences and expertise, and developing new strategies and opportunities that we might not be able to publicly share yet but drives our decision making.
One recent decision was to remove the restriction of participating in the private sale with just Nami Wallet.
Private sale investors can now be able to join the sale rounds with any Cardano compatible wallet like Yoroi, Daedalus, Ccvault.
This means that investors who signed up for the private sale will be contacted with a link to participate in the sale round which will last for 240 Hours (2 Epochs) or when the hard cap is reached.
Whitelisted investors will be contacted with the details they signed up with when the whitelist was ongoing.
Private Sale Details:
Private Sale Start: 5th April 2022
Minimum Contribution Amount: 20000 ADA
Allocation: 100,000,000 BASH
$BASH Policy ID (Contract Address): 642bd005a49116e53cedfca1a84aee173a6be0544d27bc611afcbb53
(Please note that There is no Public Sale On-Going, Anyone Offering To Sell $Bash Token to you is a scammer, always verify information from bashoswap.finance website.)
BASH Token Utility Overview
Before we do a deep dive on how the $BASH token will work within the ecosystem, here’s a brief summary of its core functions:
Utility Token— $BASH tokens are used within the Bashoswap ecosystem for many use cases like reduced fees, guaranteed slots & IDO whitelist allocation.
Governance — $BASH tokens will be used by participants to govern the Basho Protocol, ensuring consensus in decision making in a decentralized network.
Users that participate in building the Bashoswap protocol and proposing changes through the governance DAO will earn rewards for doing so.
We are committed to achieving fair IDO launches and truly community governed protocol.
Profit Sharing — Bashoswap Early Adopters who obviously serve a very important role in our project mission to becoming the leading Dex on Cardano while also reducing the barriers of entry for blockchain enthusiasts.
Early Adopters (Private Sale Investors will be awarded Founder NFTs which will serve as the proof of participation in the growth of Bashoswap ecosystem.
With our products being shipped to the Cardano main-net it will be bound to generate income and we would ultimately distributes the profits in a decentralized manner encoded on smart contracts, with a percentage of the profits split among the Founders NFT holders.
*While these features are still in the concept phase, it hasn’t fallen short of our vision for Bashoswap to become a self sustaining ecosystem to provide access to these decentralized profits.
Staking — Buyers and sellers can lock their $BASH tokens into the staking system that will be powered by smart contracts.
Locking also reduces circulating supply and creates demand surge and opens opportunities for stakers to earn Bash ecosystem rewards, including NFTs which would give staker’s slots in the Bashoswap IDO launchpad.
How to get $BASH tokens
Bashoswap is launching a private sale to whitelisted investors who signed up for the private sale on the 5th of April.
$BASH is a Cardano Native token so you can store it in a cardano compatible wallet, like Yoroi, Daedalus & Nami Wallets.
We have a guide on how to set up Yoroi & Nami Wallet (Read Here)
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