Elastic . Oracle . Ecosystem
The First Elastic Supply for Oracle Ecosystem
OracleBase (OB) is a token on the Ethereum network. The price is pegged to a weighted market cap of a basket of cryptocurrencies in the Oracle ecosystem at a ratio of 1 : 1 billion. OracleBase (OB) gives investors the ability to gain exposure to the Oracle ecosystem and it’s expected growth without having to hold multiple tokens. In addition, this exposure can be obtained through the Ethereum network and infrastructure.
If the Oracle Index market cap is $14B, OB is pegged to $1.4
If the Oracle Index market cap is $40B, OB is pegged to $4.0
& Many More
The Oracle Index is made up of 15 projects within the ecosystem. They have been chosen by our analysts as providing a selection of more established projects alongside smaller projects earlier in their growth trajectory. This project acts as a one-stop trading instrument which allows holders to speculate on the entire Oracle coins industry simultaneously, rather than just one token.
How It Works
OracleBase is built on an elastic supply protocol which automatically extends/contracts token supply to accomplish target value balance. ORACLEBASE's objective price is one billionth the absolute market capitalization of all Oracle Coins: (Cryptoslate) x 0.1^12. At the point when OracleBase market cost = (Cryptoslate x 0.1^12).
Supply expansions / contractions are called rebases.
Rebases occur when OracleBase market price ≠ (Cryptoslate x 0.1^12).
When it is > (Cryptoslate x 0.1^12), expansion rebase occurs. When it is < (Cryptoslate x 0.1^12), contraction rebase occurs. Expansion creates new supply, decreasing scarcity and driving price down its target. Contraction destroys supply, increasing scarcity and driving price up to its target.
The OracleBase is built on the Ethereum blockchain, integrates a Chainlink oracle, and will launch on Uniswap