Programmable.
Elastic.
De-Central Bank.

1. All DAIX transactions
All revenues from the DAIX Transactions are sent to the "King-Maker" smart contract.
2. Trades on the "Main-Pair"
All revenues from the trades on the Main-Pair are used to increase the Total Value Locked in Daibase Protocol.
3. From issuing Sovereign Debt
Sovereign Debt gets created when expansion of Supply takes place without adding to Total Value Locked (T.V.L.) or Protocol Controlled Value (P.C.V.). This primarily consists of Cardinal Price (Price at the Cardinal Pair) goes above 1 DAI and the Daibase Protocol enters anew Epoch.
(There is no debt creation within the same epoch and this incentivizes participants to rebalance the Cardinal Price back to 1 DAIX = 1 DAI This can also be viewed as a penalty to P&D traders ensuring stability.)

For more detailed metrics, open the Dashboard.

Use-cases

• DAIX are suited for debt-denoted forward\future contracts.
• Daibase can be used as a stable unit of account, much like a simple currency such as Bitcoin or Digital CHF, directly inside Smart Contracts.
• Can be used as an automated hedge in smart contracts that are based on "Price-Denoted" "call writing" (Options).
• Daibase Protocol can be used to replace the role of dollar-backed tokenizations to remove dependence on Tra-Fi (Traditional Finance).
• Employed as a demand gauge for other "target-based" Elastic assets.
• And as a spice in many, many more secret recipes of innovative Chefs.

NOTES:
• No tax is levied on such transactions by the Daibase Protocol from the sender.
• Such transactions do however charge the tax from the Main-Pair's Liquidity Pool and send it to the King-Maker contract.
• These transactions would thus increase the price of DAIX tokens by a small amount, equal to square root of twice the issued amount's share in Liquidity Pool.
• Each such call to parti shall return and emit a few important things back in the calldata.

About LibDAIX and IXD

Prototype

Function Declaration

• New

function parti()
	public override payable
		returns (uint256 A)
	

• Old

function parti()
	public override payable
		returns (uint256 part)
		

"part" / "A" signifies the amount of DAIX tokens issued to the sender of transaction message.


Application Interface

• parti

	{
		"inputs": [],
		"name": "parti",
		"outputs": [
			{
				"internalType": "uint256",
				"name": "part",
				"type": "uint256"
			}
		],
		"stateMutability": "payable",
		"type": "function"
	}
	



• receive

	{
		"stateMutability": "payable",
		"type": "receive"
	}
	


"parti" signifies the participate function of Daibase. DAIX tokens issued to the sender of transaction message.


Event Declarations

Events

• Based

	event Based(uint G, uint E, uint256 T);
	

• Partied

	event Partied(uint M, string R, uint N, string S, uint L);
	

Event Reference
1. E

	Epoch

2. G

	Internal

3. L

	Main-Pair's Liquidity equivalence

4. M

	Amount sent, denoted in Wei (1e-18)

5. N

	Issued DAIX, denoted in Wei (1e-18)

6. R

	Reference String

7. S

	Reference String

8. T

	Total inclusive DAIX supply