> For the complete documentation index, see [llms.txt](https://basedfinance.gitbook.io/based-finance-v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://basedfinance.gitbook.io/based-finance-v2/home.md).

# Home

Welcome to BASED Next Generation, the first pegless seigniorage protocol exploring DeFi on the FTM Network.

### The Emergence <a href="#the-big-picture" id="the-big-picture"></a>

We are introducing innovative yield strategies whilst providing inclusivity for Based Finance (V1), that successfully finished emissions.\
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Now given the recent market conditions, our research umbrella, Based Labs, has built a new protocol which is prepared for long term stability (2 years). &#x20;

Based Next Gen is a multi-token protocol which has hybrid staking functionality and consists of the following tokens:

{% hint style="info" %}
$OBOL - **PEGLESS** token with elastic supply.
{% endhint %}

{% hint style="info" %}
$SMELT - protocol’s underlying **Perpetual Print** (PP) mechanism emitting OBOL.
{% endhint %}

### Utility beyond FTM: <a href="#what-differentiates-usdtomb-from-other-algorithmic-tokens" id="what-differentiates-usdtomb-from-other-algorithmic-tokens"></a>

Based Labs team maintains a focus on innovation around enhanced functionality and use cases for our ecosystem tokens. Our tokens WILL support a Multi-chain ecosystem, and Based Next Generation protocol is the entry point to our journey! More info will be provided in future articles and updates!