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🧡 Summary of the Based Situation For the team's official position, please refer to the original tweets from Edison and Po. The following is a fact-based summary of information circulating on some Korean Telegram channels. 1) Seasonal Community Airdrop Allocation • Szn1: 3 months of use → 8% allocation • Szn2: 3 months of use → 8% allocation In other words, the system allowed users to receive a total of 16% of the airdrop with just 6 months of participation. Tokens were also allocated to $PUP and NFTs provided free to users, and users were allowed to claim the allocated airdrop without vesting. Szn3 is separate from this TGE and will run until May, after which the airdrop will occur. 2) False Information Regarding Upheaval During Szn1, there were instances of airdrops being distributed twice to Based users from another team (Upheaval). However, some have spread the claim that "Based created Upheaval and minted tokens." This amount was an airdrop provided to users by an external project for free, and was not issued or planned by Based. 3) False Information Regarding Ethena The Ethena team invested in Based in late 2025. However, some communities misinterpreted this as "Ethena will purchase $BASED at the market price after the TGE," or there were instances of miscommunication between the team and users during translation. HyENA, developed in collaboration with Ethena, is a key product responsible for the healthy scalability of Based and will continue to serve as a crucial community and fundamental pillar supporting $BASED. Furthermore, all Ethena-related tokens are vested and will not directly impact the circulating supply or price formation on the day of the TGE. 4) TGE rewards are only for users who actually participated. All rewards allocated for this TGE will be distributed only to users who actually participated. Based has never engaged in artificial hype manipulation during its operations, nor has it conducted any KOL deals, which involve offering tokens at a discount to non-users. Furthermore, paid marketing aimed at boosting the Percentage Index has not been conducted. 5) Launch Partners Mentioned in Tokenomics The Launch Partner allocation mentioned in Tokenomics is not excluded from the community allocation but is included in the Genesis allocation. Generally, all projects require MM (market making) for smooth CEX trading, and securing a certain amount of tokens for this purpose is essential to the market structure. However, some people have misinterpreted Launch Partners as KOLs, misrepresenting the situation as "Based is giving tokens to KOLs." 6) Sybil-Related Inquiries The Tokenomics announcement includes Sybil sanctions. This is a mandatory process for most airdrops, and failing to address malicious farming will harm the entire community. Based will always adhere to common sense principles when conducting its procedures. However, some have spread exaggerated or distorted claims, such as "Sybil will confiscate all airdrop tokens." This will not be the case. Based designs airdrops based on broad and reasonable criteria to ensure that genuine users receive fair compensation. This aligns with the team's repeatedly emphasized "Based Alignment."
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$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. ⸻ 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. ⸻ 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 ⸻ 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 ⸻ 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. ⸻ Q3. Why is there investor allocation? • Capital that enabled early survival. • 1-year lockup + 24-month linear vesting. ⸻ Q4. Why is 20% of the team allocation? • Long-term builder incentives & core personnel retention. • Cannot be sold before the community. • Fully vested. ⸻ 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. ⸻ 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. ⸻ 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. ⸻ 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. ⸻ Q9. What are the Based Card Points? • Detailed information will be provided upon the release of the airdrop checker (before TGE, mid-March) ⸻ 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. ⸻ Q11. How much was removed from Sybil? • Redistributed to normal community users. ⸻ Q12. What is the TGE schedule? • Target: March • Additional exchange launches are being prepared. • Any changes will be immediately announced with the reason.
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