Basis Gold (BAG) is a non-custodial algorithmic stablecoin supported by Huobi Eco Chain. Its an algorithmic stablecoin based on cryptographic-native principles, designed with insights from previous experiences with liquidity mining and elastic stablecoins to create a new stablecoin mechanism.
Unlike other DeFi projects, the Basis Gold protocol consists of three tokens: Basis Gold (BAG), Basis Gold Share (BAGS), and Basis Gold Bond (BAGB). BAG and BAGS can be obtained through mining, with BAG serving as a stable coin pegged to $1 in value, while BAGS holders participate in staking and receive premium profits generated after BAG yields.