McBase, first ever inflation-pegged memecoin. Discover the advantages of this token and direct access to its official website.
McBase provides a simple and delicious means of evaluating the purchasing power of any cryptocurrency relative to the price of the world’s most famous processed beef product: the Big Mac.
The reference price is that of a Big Mac in the United States, currently $5.15. The token offer will increase or decrease according to this price, with an automatic update every 12 hours.
Many attempts have been made to provide crypto with a source of liquidity tied to ever-changing inflation metrics (notably projects such as Frax Finance’s FPIS).
Whilst such projects are revolutionary and should be respected as such, they suffer from being too complex for the average market participant to comprehend and engage with.
That’s where $MCBASE comes in.
The McBase protocol constitutes a new crypto asset pegged to the price of one of the world’s premier consumer products, the Big Mac.
- When the $MCBASE price is above the target, the number of MCBASE tokens in users’ wallets automatically increases.
- Conversely, when the $MCBASE price is below the target, the number of MCBASE tokens in users’ wallets automatically decreases.
Lowering the barrier to DeFi adoption
If you follow DeFi news, you already know that one of the main barriers to the adoption of DeFi – and crypto-currencies in general – is the inability of individuals to assess the real purchasing power of a particular asset at any given time.
For example, Dogecoin experienced a wave of popular support during the last bull run and found its way into thousands of new digital wallets.
However, if you were to ask the average individual investor to describe the value of dogecoin, the answer would invariably be “not much”.
This is an inherent problem with all fractional crypto-currencies. To the average user, the price of “Dogecoin” will always be ‘not much’. The issue, however, is that this paints a disingenuous picture of the real purchasing power of Dogecoin over time.
McBase solves this by providing a tangible comparative standard, e.g.:
If on 1 March 2021:
- A Big Mac was valued at $5.66.
- Dogecoin was valued at $0.0812168173339073.
The $MCBASE/DOGE ratio would (5.66/0.0812168173339073) = 69.69. Or to frame it another way, a BigMac costs 69.69 Dogecoin (nice).
However, if a year later on 1 March 2022:
- A Big Mac is now valued at $5.80.
- Dogecoin is now valued at $0.1624336346678146
The $MCBASE/DOGE ratio would now stand at (5.80/0.1624336346678146) = 35.70. Therefore, a Big Mac now only costs 35.70 Dogecoin.
As we can see, the Big Mac Index provides a simple and accessible means of assessing the relative inflation-weighted purchasing power of Dogecoin over time.
Do We Recognise You From Somewhere?
McBase was originally launched in 2021 on Binance Smart Chain. Despite achieving multi-millions in TVL, the original project did not include a tax on token transfers, meaning the protocol was unable to create a lasting liquidity and marketing flywheel.
$MCBASE is now set for a fresh relaunch with these technical adjustments made. Transfers of $MCBASE will have a 5% tax on both buys and sells, with 2.5% automatically directed towards bootstrapping liquidity and 2.5% allocated towards future ecosystem development.
This, together with a home on Ethereum mainnet, puts McBase in a prime position to achieve the goals that the project originally set out to achieve.