McBase (BSC): A Supersized Rebasing Cryptocurrency on Binance Smart Chain

$MCBASE is the world’s first cryptocurrency on Binance Smart Chain pegged to the price of a Big Mac.

It is an elastic supply BSC token (similar to Ampleforth — $AMPL) with a price peg of $5.66, the current value of a Big Mac.

Why a Big Mac?

McBase leverages the ‘Big Mac Index’, a measure invented by The Economist in 1986 as a lighthearted guide to whether fiat currencies are at their “correct” level.

“[The Big Mac Index] it is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services (in this case, a burger) in any two countries.

Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible. Yet the Big Mac index has become a global standard, included in several economic textbooks and the subject of dozens of academic studies.”


Lowering The Barrier For DeFi Adoption

A key barrier to DeFi adoption — and of cryptocurrencies generally — is an inability for individuals to evaluate the real purchasing power of a particular asset at a given point in time.

For example, Dogecoin has experienced a wave of popular support in recent weeks and has found its place into thousands of new digital wallets.

However, if you were to ask the average retail investor to describe the value of Dogecoin — the response would invariably be simply “not much”.

This is an issue inherent across all fractionalised cryptocurrencies. 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:


On 1 March 2021:

• A standard Big Mac is valued at $5.66.

• Dogecoin is valued at $0.0812168173339073.

The $MCBASE/DOGE ratio is (5.66/0.0812168173339073) = 69.69

On 1 March 2020, a BigMac cost 69.69 dogecoin (nice).

On 1 March 2022:

• A standard Big Mac is now valued at $5.80.

• Dogecoin is now valued at $0.1624336346678146

The $MCBASE/DOGE ratio now stands at (5.80/0.1624336346678146) = 35.70

On 1 March 2021, a Big Mac now only costs 35.70 dogecoin.

Using the Big Mac Index, we can see that the Big Mac Index therefore provides a simple and accessible means by which someone can measure the relative purchasing power of cryptocurrencies such as dogecoin over time.

The Big Mac Index: A Global Standard

DeFi is, by definition, a global enterprise and — in the absence of a universally agreed unit of measurement — the US Dollar has historically been used as the default unit of accountancy when measuring the “real world” value of crypto assets.

However, this approach is not without issues. In order to get a clear picture of the real purchasing power of a cryptocurrency in their national economy, an individual must:

1) Convert Crypto A to USD.

2) Convert USD to their national currency.

3) Apply that national currency value to a consumer product.

With $MCBASE, you need only to consult the Big Mac Index value of the relevant cryptocurrency to gain an immediate understanding of the real purchasing power of that asset.

$MCBASE Technical Details

The $MCBASE token achieves its price peg to a Big Mac ($5.66) through a “rebase” mechanism which increases or decreases the total supply based on the delta from it’s peg price.

This rebase event occurs twice a day (every 12 hours).

When the 12-hour TWAP (time weighted average price) of $MCBASE is over $5.66, it’s in an expansion phase and the total supply will increase. This means every token holder will automatically gain more tokens in their wallet. This increase in supply causes the price of $MCBASE to decrease to get closer to peg.

Conversely, when 12-hour TWAP of $MCBASE under $5.66 it’s in a contraction phase, and the total supply will shrink. Every holder will lose tokens in their wallet. This decrease in supply causes the price of $MCBASE to increase to get closer to peg.

Intuitively, most holders will prefer expansion cycles over contraction cycles. However, it’s important to note that since everyone’s holdings will increase or decrease the same percentage during a rebase, your share of the total market cap remains the same through both cycles.

Also, there is a “rebase lag” constant to smooth out supply increases/decreases over multiple epochs, so there is less of a “shock” to the system. The starting rebase lag is 5, meaning if the price increases by 20% from peg, the expansion will be 4% (20/5).

The rebase function is a public function that can be called by anyone once every 12 hours. Since this requires gas, anyone who calls the function will receive 5 $MCBASE as a reward for spending the gas.

$MCBASE Launch Details

$MCBASE is the world’s first rebase token with a 100% fair launch. Unlike other elastic supply tokens such as $AMPL or $BASE, $MCBASE will launch directly to Pancakeswap with no presale. This means there are no seed investors or pre-salers who bought tokens for pennies on the dollar.

The team is bootstrapping the launch with their own liquidity (70% of which will be locked) as well as creating additional liquidity incentives including the “Sharebox” or geyser, which will reward liquidity providers with $MCBASE reward tokens with multiplier bonuses. Stay tuned for more details on the Sharebox after launch.

In order to make the launch as fair as possible, $MCBASE will have an anti-bot mechanism hardcoded in the contract. Anyone who buys the $MCBASE token before the official announcement in the Telegram room will be permanently blacklisted and unable to transfer or sell their tokens.

$MCBASE Tokenomics


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.

Every 12 hours, the supply will expand or contract to reach the target price of $5.66. You can earn additional $MCBASE rewards by staking through the Sharebox (geyser) which will launch a week afterwards.

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