A rebase token is one that automatically adjusts its supply in accordance with the fluctuations in its price. In a way, rebase tokens are similar to stablecoins as they both have price targets. What makes rebase tokens different is their elastic supply, i.e. they adjust their supply as per the demand, without impacting the value of the tokens that users already own. Let’s take a look at the ten biggest rebase cryptocurrencies.
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Ten Biggest Rebase Cryptocurrencies
We have used the market cap data as of December 9 (from coinmarketcap.com) to rank the ten biggest rebase cryptocurrencies. Following are the ten biggest rebase cryptocurrencies:
Seigniorage Shares have flexible money supplies. It usually issues a redeemable bond or coupon when the value of the token goes below the par value. This helps to maintain SHARE’s value near the intended peg. SHARE is down over 4% in the last seven days and is currently trading around $0.0266. It has an all-time high of $2.76 (September 2020) and an all-time low of $0.001305 (November 2020).
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Base Protocol (BASE: >$0.76 million)
BASE’s price is pegged to the total market cap of all cryptocurrencies at a ratio of 1:1 trillion. In this way, BASE allows users to speculate on the entire crypto industry. It is built on the Ethereum blockchain and integrates a (Chainlink) oracle. BASE is down over 4% in the last seven days and is currently trading around $2.13. It has an all-time high of $5.42 (September 2021) and an all-time low of $0.09125 (June 2021).
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Basis Cash (BAC: >$1.86 million)
Launched in late 2020, it is one of the three tokens that play a crucial role in the Basis Cash ecosystem. BAC claims to be an “ownership token” that gets “inflationary rewards from Basis Cash.” The value of BAC is linked directly to the adoption of the Basis Cash ecosystem. BAC is down over 10% in the last seven days and is currently trading around $0.0345. It has an all-time high of $1,013.25 (November 2020) and an all-time low of $0.03126 (October 2021).
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Antiample (XAMP: >$2.02 million)
It is an ERC20 token with a constantly reducing supply. When the value of one Antiample token drops, its supply also goes down by at least 1%. XAMP is down over 7% in the last seven days and is currently trading around $0.004335. It has an all-time high of $0.02814 (August 2020).
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Ditto (DITTO: >$2.4 million)
Launched in December 2020, it is a DeFi (decentralized finance) project and a fork of the AMPL protocol that runs on the BSC (Binance Smart Chain). DITTO’s rebasing can be activated up to 6 times a day. DITTO is up almost 1% in the last seven days and is currently trading around $0.955. It has an all-time high of $2.88 (February 2021) and an all-time low of $0.4394 (February 2021).
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Benchmark Protocol (MARK: >$2.8 million)
It is supply elastic collateral and a hedging device that is driven by the volatility index. MARK dynamically adjusts its supply depending on the CBOE volatility index (VIX) and deviation from the target metric (SDR). MARK is up over 1% in the last seven days and is currently trading around $1.42. It has an all-time high of $4.25 (February 2021) and an all-time low of $0.1132 (December 2020).
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Standard Protocol (STND: >$5 million)
It is the first Collateralized Rebasable Stablecoin (CRS) protocol. The holders of STND govern the Standard ecosystem, as well as are eligible for a portion of the Standard protocol profits. STND holders need to stake their tokens into the Governance contract to claim profits. STND is down over 25% in the last seven days and is currently trading around $0.4225. It has an all-time high of $3.06 (May 2021) and an all-time low of $0.275 (August 2021).
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Empty Set Dollar (ESD: >$9 million)
ESD is a decentralized stablecoin that aims to maintain its price around $1 by using a seigniorage model. It is entirely decentralized on-chain governance, where changes or upgrades to the protocol requires a vote of the token holders. ESD is down over 8% in the last seven days and is currently trading around $0.02017. It has an all-time high of $1.63 (December 2020) and an all-time low of $0.01904 (December 2021).
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DIGG (DIGG: >$19 million)
It is an elastic supply rebase token, whose price is pegged to Bitcoin’s price. DIGG is a product from Badger Protocol. DIGG is down over 10% in the last seven days and is currently trading around $38,617. It has an all-time high of $513,780.42 (May 2021).
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Ampleforth (AMPL: >$229 million)
It is an Ethereum-based cryptocurrency that aims to be the base money of the new decentralized economy. Instead of owning a fixed number of AMPL tokens, users own a fixed fraction of the total AMPL circulating supply. AMPL is down over 20% in the last seven days and is currently trading around $0.9367. It has an all-time high of $4.04 (July 2020) and an all-time low of $0.2723 (June 2021).
