Basis V2 Update. As most of you are aware, there will be be a delay in launching V2.

02 Apr 2021, 01:05

📡📡📡 Basis V2 Update As most of you are aware, there will be be a delay in launching V2. We understand that the community is justifiably frustrated by this, and sincerely apologize once again for our failure to deliver on time. We underestimated the complexity of the BIP-11 dynamic emissions structure, and as a result the code became too complicated. Despite spending the last 48 hours attempting to mitigate this issue through refactoring the code, we ended up having no choice but to roll back some of the V2 branches since the test codes had low coverage. Unlike many other DeFi projects, we are building all our modules from scratch and we fully anticipate to rollout V2 as planned, albeit delayed. Current Estimated Timelines - Code to be open-sourced by 4/4 for community audit - Internal migration of BAC-DAI LP will commence thereafter. Users will not have to migrate. However, this is necessary for the transition to dynamic emissions, as we first need to combine the rewards into a single block before reallocating dynamically. Finally, we acknowledge that our communications should have been better, and delaying on launch day is not a good look for Basis. We will do our absolute best to make this the last time we miss a deadline. We appreciate the continued support from the community, and ask you to bear with us just a little while longer. As a gesture of thanks to the community, 2.5% of the Basis Lending Token supply will be airdropped to all BAS holders (LP+Boardroom)