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ATT Conditional Rebasing Explained

ATT CONDITIONAL REBASING

Rebasing is an inherent feature of all elastic supply projects and rebases usually kicks-in to achieve a target price by shrinking or expanding total supply. This dual action rebase is good for tokens aiming to be equivalent of some FIAT but our case is different and rather optimistic.

Binance & Ditto money has done a fantastic job in explaining elastic supply & rebasing in the articles below. So without investing much time on these terms, we will post the links to those articles:

Binance AcademyElastic Supply Tokens Explained

Ditto Money Elastic Supply For Dummies!

Now let’s get started with conditional rebasing in ATT Money. Our efforts are to create a crypto asset which can protect its base price by negative rebasing (if required) but on the same time its growth is not limited by any programatic conditions. Yeah sounds complex so let us expand on the idea with an example.

Few terms which are very important and every community member must understand are as below:

Base Price: ATT base price is minimum price our algorithms will maintain via negative rebases. Upon listing this price would be set to $1 and negative rebase will kick in as soon as it falls below $0.99 (you must be thinking why $0.99 and not $1. Comes in ‘Deviation Threshold’)

Deviation Threshold: This is the value set at 1% (by default) to protect rebases due to incidental price drops and providing it a chance to recover it on its own. Negative rebase will only kick-in if the deviation threshold is breached.

Proposed Base Price: By default the base price is set to $1 but community would have the authority to appreciate that price every 30 days (** Conditions Apply). Now thinking, how is this proposed based price calculated ?

So every 30 days our system will make several oracle calls to platforms like coingecko, coinmarketcap and our internal stats nodes to calculate the 30 days average price for ATT. If the average price is above current base price, a governance proposal would be floated to appreciate the base price.

Now community can vote in favour of or against the proposal for price appreciation and if it wins, anybody from the community would be allowed to initiate the contract call for resetting the base price.

Okay, so finally it’s time for the ATT conditional rebasing explanatory example.

ATT foundation list the token on PancakeSwap at the price of $1, which is our base price during the launch. Now some of the investors who bought tokens at $0.90 in our token sales decides to book profits below $1 and eventually dragging down the price. As the platform determines that price has gone below deviation threshold (current price < $0.99) via an oracle call which checks current price every 4 hours.

It will calculate the total circulating supply and number of tokens it need to take out of circulation in order to pull the price back to $1 or current base price. Resulting in shrinking the circulating supply and resetting the price to current base price. Rebase will reset the holding amount irrespective of their location, whether it is staked, or in liquidity pool or simply in some cold wallet. Everybody would experience the decrease in number of tokens owned but actual dollar value of their portfolio would remain unaffected.

No rebases are trigger if the price is above base price or continues to appreciate above that.