5 questions about DotBased (xDOT) you should know

5 min readOct 26, 2020

DotBased is an adaptive elastic supply cryptocurrency which is soft pegged to the price of PolkaDot.

01. What is DotBased ?

DotBased as a token is an adaptive cryptocurrency which is soft pegged (tied) to the PolkaDot cryptocurrency. The supply of DotBased will automatically increase or decrease depending on the price difference between both cryptocurrencies.

DotBased is based on 4 key components :

Soft-Peg: The price of the elastic supply token xDOT is pegged to the price of PolkaDot.
”THE BASE” (Staking): The BASE is version of yield farming pools which will reward users who provide liquidity on Uniswap. It will include linear staking pools with a limited time frame, where users can stake their liquidity provider tokens and get substantial rewards in xDOT. Correlated to future partnerships, DotBased will be adding multiple project pairs into the staking program. The first staking pool will be for our native liquidity providers.
Elastic supply : DotBased offers a mecanism of Rebases/Debases. Each 24 hours, at 13:00 UTC, xDOT will automatically add (Rebase) or remove (Debase) token from the user wallets. This rebase/debase will be based on the daily average price of the pegged asset (Polkadot). Moreover, a limitation will be implemented into the smart contract. This limitation will divide the rebase/debase value by 10 which will insure for a more organic token price fluctuation and avoid any explicit price streamline in either direction.
Open source : DotBased smart contract is an Ampleforths fork with some minor changes. It is available on Github for public access and audits through the etherscan contract link. Furthermore, additional token mint function has been disabled. Moreover, the project code will be audited before launch.

The 3 differences with other rebase coins

First the project is focusing his attention on the PolkaDot network, even though it is launching on Ethereum beforehand.
Secondly, the staking mechanism is different.
Third, the project have learned from the multiple mistakes of other rebase coins to insure a great project for everyone involved.

Why the choice of Polkadot ?

Polkadot enhance and strengtheng the Web 3 and it’s also the largest smart contract platform by market cap after Ethereum. So, PolkaDot has been picked because the team believe that they are the future of the blockchain space. Moreover, Dotbased have for ambition to migrate to PolkaDot network as a long term milestone to be the first rebase project on their network.

The importance of the community

The community is very important for the team which want it play a great role in the product. Some examples that show this importance :

The ongoing airdrop for the most active and helpful community members
The future implementation of the governance
The future staking pools will be community voted

02. What is xDOT and what is the tokenomics ?

xDOT is the token of DotBased. xDOT is pegged to DOT (the Polkadot Token) price. For example, if DOT prices goes down and xDOT price doesnt move, all our holders get positive rebases.

The tokenomics:

Uniswap Liquidity:

20% of supply (20,000 xDOT) against 300 ETH
The 2% is allocated for future liquidity provision, but for starters it will also be locked in Uniswap
As well as most of the 8% of team tokens

All this lockup is to support the project early on.

Marketcap:

The marketcap will be around 200k at the launch

03. Who is the team behind DotBased ?

The Team make the choice to stay anonymous. This choice is motivated by the uncertain nature of uniswap regulatory grey area.

The founder of DotBased has been an investor and advisor in the cryptocurrency space for 4 years now. He began as trader and rapidly, he moved to investing into earlier stages of projects. After that, he joined a crypto investment fund which specializes in both investing and advising. DotBased is borned because of his personal fascination of the rebase coin niche.

The devs of the team are very expereinced as well and have a number of working elastic supply project and staking projects that have already been released and are working perfectly.

04. What is the Roadmap of DotBased ?

The first millestone of the project is the public sale (october 27/28) directly follow by the Uniswap listing (october 29/30).

After this launch, the team will focus on multiple aspects to drive new users and keep old users interested such as our native LP staking pool (which would be running for 90 days), community voting on new staking pools, partnerships (potentially within the PolkaDot ecosystem), marketing engagement, governance implementation and other aspects.

2021 will be the year of the migration to the Polkadot network and many other announcements.

05. Token sale & Listing

The project total raise will be 550 ETH : 500 eth for private and 50 eth for public (public is capped at 1 eth per person).

Both private and public have the same price which is a little bit discounted to the launch price.

Private sale:

The private sale is already closed and very oversubscribed. Many good partners had been brought onboard who will benefit the project from all neccesary aspects.

No big allocations were given out and there was no pooling for the project.

All advisors and team have agreed to support the project by providing liqudity from day 1 and then stake through “The BASE”

Public Sale timeline:

📅 Public Sale FCFS Whitelist — 27th of October

Time: 15:00 UTC 27th October
We will post a google form in both our telegram channels at exactly 15:00 UTC
Google form will ask for basic information (telegram handle, ERC-20 recieving address)
Google form will contain some simple questions to avoid bots
There will be 50 winners, with 1 ETH allocation per person
We will announce winners a couple of hours after we close the form!

💰 Public Sale Settlement — 28th of October

Countdown to the public Sale FCFS Whitelist

🦄 Uniswap Listing: