How REBASE works

REBASE is a self-funding on-chain index on Base. Trading volume buys a basket of assets and pays it to holders in-kind. Holders pick what goes in the basket.

A flat 5% is taken on every trade, split four ways: 3% holder rewards, 1% BaseStonk (platform fee), 0.6% marketing, and 0.4% liquidity & burn (LP add plus buyback-burn, combined). That means 60% of every tax dollar goes to holders. The rewards portion does not depend on anyone claiming anything and is paid in-kind, straight from the basket. Each of the ten basket slots is bought on-chain in its own asset at the moment of the trade, then distributed to holders proportional to their balance. If a slot can't be priced or routed at that moment, that portion pays out in the pair currency instead, and that substitution is shown on the rewards row rather than silently dropped.

The basket rebalances on a fixed cadence - every 30 minutes. At each rebalance, every holder's current picks are pulled, weighted by their token balance, and summed per asset. The top 10 assets by weighted demand fill the ten basket slots, with weights normalized to sum to exactly 10,000 bps. There is no cooldown beyond the epoch interval - the controller (see below) can also rebuild the basket at any time.

Anyone can browse the eligible asset menu - stocks & RWAs, crypto & stables, Base-native tokens, and the Clanker, Virtuals, and Bankr ecosystems - and pick as many as they'd like to be paid in. There's no cap; picks are a preference signal, not a trade. Saving picks requires a connected wallet and does not move any tokens or change your balance. Picks are combined across every holder, weighted by balance, and the ten most-wanted assets become the next basket. Picks can be changed at any time before the next epoch closes.

The balance that weights your picks is your wallet's real REBASE balance, read from chain when you save and re-synced regularly. A wallet holding no REBASE can pick, but its picks carry no weight. A rebuild is checked once a day and after every 30 saves, and only broadcasts once at least 8 wallets have voted; below that floor the basket stays as it is.

Assets become eligible for the basket via the routed quote gate - each candidate is checked on-chain (RoutedQuoteGate.isVetted, or isVettedBy for catalogue tokens) by the rewards factory at launch time. Some listed assets are shown but marked "needs issuance" - they are not yet routable and cannot currently be picked.

A single controller address can call setBasket(address[], uint16[]) on the token's HolderRewards contract to force a rebuild outside the normal epoch cycle, or renounce the seat entirely. Renouncing is permanent. The current controller and renouncement status are shown live on the homepage, read directly from state.

The controller key is held by this app. It has rebuilt the basket once so far, on 1 September 2026, from the picks of the single wallet that had voted at the time, before the participation floor existed. Every basket change is listed on the homepage with its transaction hash.

REBASE is a token contract and a rewards contract. There is no fund, no manager, no pooled account, and no entity that holds your assets. Rewards are pushed from the rewards contract to holder addresses at the moment of each trade, in proportion to balance. Nothing is held on your behalf and nothing is owed to you.

Three levers exist that a holder should understand before buying:

The controller. A single address can call setBasket and rebuild the basket outside the normal epoch. This exists so a broken or unroutable basket can be repaired without waiting on an epoch. It is also, plainly, a centralization point. The controller can be renounced, permanently, and the current status is displayed live on the homepage.

The eligible asset menu. An asset can only enter the basket if it passes the routed quote gate on-chain. That gate determines what holders are allowed to pick from, which means the menu bounds the outcome of every basket vote.

The tax split. 5% on every trade: 3% to holder rewards, 1% platform fee to BaseStonk, 0.6% marketing, 0.4% liquidity and burn. The rate, burn and liquidity shares are fixed in the pool. The payee wedges are set at launch (see below).

Platform powers. REBASE launched through BaseStonk. The contracts are plain, immutable deployments and keep running without BaseStonk's site or API, but the platform admin key keeps two bounded powers in the verified source: it can re-cut the fee payee wedges (not the tax rate, burn or liquidity), and it can mark an address exempt from rewards. It cannot stop distributions, change the 5% tax, or touch the basket seat.

It is not an index fund. Nobody selects assets on a prudence standard, nobody rebalances for diversification, and there is no mandate. The basket is whatever holders currently want to be paid in, and it can concentrate.

It is not yield. Rewards are a share of trading tax on activity that already happened. There is no rate, no accrual, and no floor. A day with no trading pays nothing.

It is not a claim on any entity. Holding $REBASE does not entitle you to assets, revenue, dividends, or a share of any company. The reward flow is a function of the contract, not an obligation of a person.

It is not one-holder-one-vote. Picks are weighted by balance. A large holder has proportionally larger influence over the basket than a small one, by design and without limit.

It is not a hedge. Receiving a mix of assets does not protect you from loss. You can accumulate rewards while the market value of $REBASE falls, and the assets you receive can fall too.

We are not going to tell you $REBASE is definitively outside securities regulation. Nobody honest can tell you that about a reward-bearing token, in any jurisdiction, today. What we can do is tell you exactly how it is built and let you and your advisers reach your own conclusion.

The facts that matter:

Non-custodial. The protocol never holds user assets. Rewards move from the rewards contract to holder wallets directly. There is no account, no balance held for you, and no withdrawal process.

No claim, no discretion. Distribution is mechanical and executes on trade events. No person decides who is paid, when, or how much. There is no pooling of contributions and no manager exercising judgment over assets.

Basket selection is holder-directed. The ten slots are set by aggregated holder picks, weighted by balance, on a fixed 30-minute epoch. The team does not choose the basket. The one rebuild so far was computed from a single voter's picks; the participation floor now requires eight.

Rewards are volume-derived, not promised. Nothing in the contract or on this site commits to a rate of return, and rewards go to zero when trading goes to zero.

The open questions, stated plainly:

While the controller seat is live and unrenounced, a single address retains the power to rebuild the basket. That is meaningful managerial capability, and it is the fact a regulator is most likely to focus on. Renouncement is the intended path and the status is public on-chain.

The marketing allocation funds promotion of the token. Promotional spend funded from trade proceeds is a disclosure-sensitive arrangement in most jurisdictions.

Tokenized equity and ETF exposures, where they appear in the eligible menu, carry the regulatory status of the underlying instrument and its issuer. REBASE does not issue them, does not endorse them, and cannot cure a defect in them. Their presence in a basket is not a representation that they are lawfully distributable to you where you live.

Nothing on this site is an offer, a solicitation, or investment advice.

In most jurisdictions, receiving an asset as a reward is a taxable event at the moment of receipt, valued at the price at that moment, and creates a cost basis for a later disposal. Because REBASE pushes rewards automatically and in-kind, you can incur taxable receipts without taking any action, in many small increments, across many different assets.

The site shows payout-time value alongside current value on the rewards row specifically so you have the receipt-time number. That display is a convenience, not tax advice and not a tax record. Get your own advice.

Rewards depend on volume. REBASE pays out of trading tax, not a promised yield. Rewards scale with activity and can be zero for extended periods.

The basket can be steered. Picks are weighted by balance. A large holder or a coordinated group can move the basket toward assets they hold, and then benefit from the reward flow buying those assets. This is a foreseeable use of the mechanism, not an exploit of it.

The controller seat is live. Until it is renounced, the basket can be rebuilt at any time outside the epoch cycle. Renouncement is permanent and irreversible in the other direction: once renounced, a broken basket cannot be repaired.

You receive volatile assets. Basket constituents can include memecoins, Base-native tokens, and tokenized equity or ETF exposures. Some can go to zero. Some can become unroutable, in which case that slot pays in the pair currency instead.

Token price risk is separate from reward flow. Rewards can accrue while $REBASE itself falls. Accumulating a basket does not make you whole on the position.

Smart contract risk. The rewards contract, the routed quote gate, and the assets in the basket are all code, and code fails.

Reflexivity. Reward purchases push demand into basket assets, which attracts pickers to those assets, which increases their weight. The loop runs in reverse just as efficiently.

Short track record. $REBASE has been live on Base since 31 August 2026. Prices, volume, holders, payouts and the basket on this site are read from chain and market data, not simulated. Holder-directed rebalancing is live but gated: it needs at least eight voting wallets, and the only rebuild so far came from one voter's picks. A few days of history is not evidence the mechanism holds up across market conditions.