Basis · interactive mechanism simulation

Basis never launched — this simulates the documented seigniorage-shares design. A price oracle watches the market: above peg, new Basis mints to pay off the bond queue (oldest first) then dividends to shareholders; below peg, bonds auction at a discount and the proceeds burn to contract supply. Unredeemed bonds expire worthless after their term.
Price oracle reads market price Basis market mode: neutral Elastic supply contract supply: 500,000,000 price: $1.000 Shareholders dividends: 0 Basis Bond auction 20% discount Bond queue (FIFO) 0 bonds · oldest 0.0y
Basis price
$1.000
Circulating supply
500,000,000
Bonds outstanding
0
Dividends paid to shares
0 Basis
Bonds expired worthless
0
Parameters — edit me
12%
20%
5y
3/min
Controls

Illustrative simulation. Basis raised ~$133M but shut down in Dec. 2018 before launching — no contracts were ever deployed. This animates the documented design (three-token seigniorage shares, FIFO bond redemption, 5-year bond expiry) with plausible starting values and randomized timing for visualization — not live onchain data, and not a claim about what would have happened. Drag the sliders or trigger the death-spiral button to explore the mechanism's confidence-dependent stability. Part of The Onchain Experiment Atlas.