When the Basis Cash protocol is in expansion, you can earn newly minted Basis Cash (BAC) by staking your Basis Shares (BAS) tokens in the Boardroom.
Here’s how it works:
- You need to own some BAS before you can stake it, so if necessary you can buy some with DAI at Uniswap.
- Once you own some BAS, you can “stake” them in the Boardroom section of the Basis Cash app. The first time you stake, you have to “approve” access to your BAS, after which you can deposit using the “+” button.
- Once staked, you will start earning BAC after each 24-hour epoch, while the protocol is in monetary expansion.
- You can withdraw your earned BAC tokens, from the “Claim Reward” area on the same screen.
- Finally, you can unstake and withdraw your BAS tokens anytime, using the “-” button on the same screen.
Important things to know:
Rewards are received once per day, at the epoch time of 00:00 UTC. You can monitor the countdown of the current epoch at the Basis Cash Tools site.
Unlike most other algorithmic stablecoin projects, there are no complicated time lock-ups determining when you can claim your rewards, or remove your staked Basis Shares.
Let’s now look at how to earn Basis Shares in the Bank! →