BAC vaults
- This stablecoin is likely depegged. The current rate is 1,028.65 BAC / 1 USD fetched at .
About Basis Cash
Basis Cash was an algorithmic stablecoin protocol on Ethereum inspired by the original Basis project. It used a seigniorage shares model with three tokens: BAC (stablecoin), BAS (shares), and BAB (bonds). The project is now defunct after failing to maintain its dollar peg.
Basis Cash was an anonymous, community-run implementation of the Basis algorithmic stablecoin protocol, launched in late 2020 on Ethereum. It was inspired by the fractional reserve banking model and Robert Sams' seigniorage shares whitepaper.
Mechanism
Three-token seigniorage model:
- BAC — the stablecoin targeting $1.00
- BAS (Basis Share) — governance and seigniorage token; new BAC is minted and distributed to BAS stakers when BAC > $1
- BAB (Basis Bond) — purchased at a discount when BAC < $1 and redeemed at $1 when BAC recovers
Status
Defunct. BAC lost its peg and never recovered. The protocol stalled in 2021 and is no longer maintained. BAC trades at effectively $0 (~$133,000 market cap across 54.5 million tokens as of early 2026).
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