Basis Pool

Pool Description/Risks
BASIS is the utility token of and can be staked into rBASIS to receive 16% of profits generated from the BASIS platform. This pool lets you use rBASIS as collateral, borrowing USDC or BASIS to add to your rBASIS deposit.
One risk of this pool is the smart contract risk associated with Basis's staking platform. Risk is low due to the simplicity of the contracts. When leveraging BASIS for rBASIS, make sure to manage your positions as utilization might drive up, turning the strategy unprofitable.
The price of BASIS is detected using a Switchboard oracle that pulls data from on-chain sources, Orca & Serum. rBASIS relies on the rBASIS:BASIS ratio calculated by drawing from the on-chain reserve of staked BASIS, and the number of rBASIS in circulation. Currently, prices will be updated every 60s, or when a 0.5% move occurs.
Switchboard currently employs an equal weighting mechanism, where the average of these three prices are taken. In times of market congestion, we will bump the OracleBatchSize to 5 to improve oracle reliability.