Daibase Protocol : Frequently Asked Questions

What is DAIX?

What is DAOX?

How to”mint”DAIX?

  1. Visit the shopping section and enter the amounts you wish to buy.
  2. Send some XDAI directly to the Daibase Contract address.
  • Use “Gas Limit” of 500000 (500k) when minting DAIX.
  • “Minting” doesn’t have any fees.
  • “Minting” helps us increase the Protocol Controlled Value (PCV, a.k.a. “TVL”).
  • The XDAI sent for minting gets locked forever into liquidity.
  • DON”T TRY TO “BUY DAIX” ― if you “buy” it, you will lose DAIX.

How to buy DAOX?

Why someone should buy (‘mint’) DAIX from the contract instead of buying directly?

  • This incurs 1% transaction tax.
  • It incurs 0.3% trade fees.
  • If your trade gets ‘routed through DAIX’, honeyswap would charge you 1.3% extra for each ‘hop’.
  • if someone else is also trading in DAIX when you go to buy it on honeyswap, the amounts you receive might not be the ones expected by you. Other trades would influence the DAIX amounts you receive.
  • Direct minting DAIX helps in growing the PCV (Protocol Controlled Value)
  • This eases trading for future trades.
  • Helps to reduce slippage in future.
  • Makes for a bigger (de-)Central Bank Reserve (which is directly owned by all DAIX holders)
  • Incurs zero (0%) slippage losses.
  • Incurs zero (0%) trading fees.
  • Incurs zero (0%) transaction tax.
  • Fully predictable amounts of DAIX received.
  • Allows you to reset price back to $1 (optional― it’s your wish, just need to press the “BaseCannon” button).

Which blockchains are supported?

How often can we press the ”BaseCannon” button?

What is the”rebase lag”?

Is there a”transaction tax”?

What is the”KingMaker”?

Where does the money bid into the KingMaker go?

What is the use-case of Daibase?

Are the DAIX collateralized?

I have more questions. Will you answer?

> Telegram: https://t.me/Daibase

> Twitter: https://twitter.com/DaiBased

> 1Hive: https://forum.1hive.org/u/Daibase

> Discord: https://discord.gg/VU8NHdmYu6

Further reading:

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An alt-Central Bank― A Decentralized Reserve Bank.

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Daibase Protocol

Daibase Protocol

An alt-Central Bank― A Decentralized Reserve Bank.

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