$BASED Summary of Official Position on the Tokenomics Controversy (Korean)
1. General Position
• There has been considerable criticism and concern regarding $BASED tokenomics over the past day. The team is aware of issues such as poor communication, Ethena distribution, the existence of Season 3, and Sybil issues.
• Token launch is not simply about distribution; it's about aligning early contributor rewards with long-term ecosystem growth.
• BASED's long-term goal is to become a mainstream fintech-level crypto platform like Robinhood.
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2. Token Supply & Launch Philosophy
• If the initial circulation is too small, community formation will fail,
and if it's too large, there's a risk of price collapse due to lack of liquidity.
• The launch will not be delayed due to market conditions (e.g., BTC below 70k).
→ Based on product completeness, community, and ecosystem readiness.
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3. Seasonal Community Rewards
• Season 1 (approximately 3 months): $7.63M in fees
• Season 2 (approximately 3 months): $5.34M in fees
• 60-70% of profits are redistributed to users (affiliate/referral rewards)
• S1 = 8%, S2 = 8% token allocation
• Due to the short season, a simple comparison with "10% for other projects" is inappropriate
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4. Q&A Key Summary
Q1. Why are tokens given to exchanges (Launch Partners)?
• Refers to exchanges and distribution partners, not influencers
• To ensure liquidity, accessibility, and price stability
• Includes vesting conditions
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Q2. Why is Ethena included in the Genesis distribution? • Ethena is not simply an external entity, but a community with substantial contributions.
• HyENA joint project → Core engine of growth.
• Ethena Community: 7.5% of total supply.
• 20% unlocked for 3 months after TGE.
• The remainder vests after 1 year.
• BASED community receives tokens immediately, before Ethena.
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Q3. Why is there investor allocation?
• Capital that enabled early survival.
• 1-year lockup + 24-month linear vesting.
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Q4. Why is 20% of the team allocation?
• Long-term builder incentives & core personnel retention.
• Cannot be sold before the community.
• Fully vested.
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Q5. Why is Season 3 included in the Genesis Distribution?
• Genesis is based on the "economic vesting point," not the actual payment point.
• Season 3 runs from January to May → included in the Genesis distribution.
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Q6. Why are $PUP holders eligible for Genesis distribution?
• Signaling remaining loyalty even in a bear market, not for short-term farming.
• To strengthen community stability and long-term holder base.
• Token conversion, not airdrop.
• No snapshots.
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Q7. How do you handle Sybil?
• Analyze millions of on-chain and off-chain data.
• Use Based Alignment Score.
• Criteria:
• Ongoing use.
• Excluding single-event activities.
• Actual trading risk.
• Partial deductions for trading primarily in stablecoin pairs.
• Removed tokens will be redistributed to the actual community.
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Q8. Why only 8% per season?
• The season is very short, at 3 months.
• Based on the entire points period (June-December 2025, 6 months),
→ A total of 28.5% is distributed to the community, including S3.
• To prevent short-term over-distribution.
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Q9. What are the Based Card Points?
• Detailed information will be provided upon the release of the airdrop checker (before TGE, mid-March)
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Q10. What about buybacks/fee sharing?
• Only confirmed details will be announced.
• Announcement will be made after regulatory and implementation issues are resolved.
• No empty promises.
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Q11. How much was removed from Sybil?
• Redistributed to normal community users.
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Q12. What is the TGE schedule?
• Target: March
• Additional exchange launches are being prepared.
• Any changes will be immediately announced with the reason.
