Tokens as assets, not liabilities

Today, the process of launching a token is risky, expensive, and time-consuming. Instead of building, founders are figuring out smart contracts, negotiating with market makers, and optimizing their tokenomics. As a result, launching a token today causes more problems than it solves.

Every step in a token's lifecycle presents a different obstacle:

1. Misconfigured setup: Imbalances in supply and liquidity can result in easy manipulation and ineffective price discovery. That's why over 85% of all tokens (opens in a new tab) end up below their TGE price.

2. Counterparty risk: One rogue action from your investors, market makers or exchange can jeopardize your entire project.

3. Ongoing costs: Once launched, tokens become a liability as you have to manage operations, liquidity and holder expectations.

Baseline was built to solve these problems by turning a token from a liability that works against projects, into an asset that works for them.

The end-to-end asset issuance protocol

In Baseline, tokens own their liquidity, and automatically manage it to grow value over time. By using Baseline, founders save time, prevent costly mistakes, and automate the entire token lifecycle. Founders configure launch parameters, and Baseline does the rest: token deployment, liquidity management and value accrual.

• Token-Owned Liquidity: Instead of depending on unreliable counterparties, Baseline tokens operate programmatically, transparently and in perpetuity with no cost.
• Value Accrual: By managing its own liquidity, the token captures trading fees as revenue, and grows its own value over time.
• Capital Coordination: Baseline tokens have built-in utility like real yield, borrowing without interest, and leverage without liquidation.

By rethinking token design from first principles, Baseline tokens move beyond static limitations of traditional equity to programmable assets that actively grow the economies they represent.

Beyond zero-sum trading

Traditional token trading is a zero-sum game with binary choices: hold and wait for a pump, or sell to access capital. Baseline gives traders optionality on how to manage and grow their portfolio.

• Guaranteed floor price: Baseline establishes the point at which the risk-reward profile is the most asymmetric, backstopping negative market reflexivity.
• Incentives to hold: Baseline captures and distributes LP fees to holders, harvesting volume into yield automatically.
• Access to Capital: Baseline gives the ability to borrow with no interest and no liquidation risk, making every token a permanent source of liquidity when needed.

With token-owned liquidity, Baseline offers programmatic guarantees that no other assets can, fundamentally rewriting the game theory of token trading.