SMELT (BSHAREv2) is one of the ways to measure the value of the BASED Next gen Protocol and shareholder trust in the brand new pegless Minting mechanism. During every epoch the protocol mints $OBOL and distributes it proportionally to all $SMELT holders who have staked their tokens in the Boardroom (Acropolis v2).
Based Next Gen is a continuation of the popular seniorage project Based Finance. With this innovative new chapter the team is aiming to solve the algorithmic token problem by moving to a Pegless mechanism that relies on Market forces and value added mechanics and Utilities