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Gate.io's Explanation Regarding BASE’s Rebases on Dec 10-Dec11

2020-12-12 13:50:03Read:27188

The BASE protocol has a feature that adjusts BASE address balance daily at a scheduled time (at about 22:00 UTC everyday ) through a smart contract, called" rebase". Gate.io will update our users' balances according to the on-chain rebase result as well.
However, on December 10th and December 11th, the time that the smart contract conducted the transfer transactions deviated from the scheduled hour, and Gate.io failed to capture the rebase records for those two days. As a result, Gate.io's users skipped the two rebases. Though we conducted no rebases, we still snapshot the users' balances and kept them. Later, after our double check, it is confirmed that the BASE chain had successfully conducted two rebases for those two days. Therefore, we have to make a corrective rebase of our users' balances based on our snapshots and the on-chain rebase results for these two days. After our corrective rebase, users' balances will be aligned with the on-chain results after the two rebases. For some users who had sold out or withdrawn before the rebase, they might find they had negative balance after rebase and need to buy back or deposit some to make it zero again. If buying the previously sold Base tokens back in an effort to make balance zero again would cause you a loss due to price changes on the market, please contact us and we will compensate for the price differences for you. https://www.gate.io/help


Thank you for your understanding and continued support.




Gate.io Team
December 12, 2020


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