BasedRaid Protocol Whitepaper
01. Executive Summary
In the volatile landscape of Solana memecoins, "rug pulls" and abandoned projects are rampant. Communities are often left holding bags with no leadership or funds to revive the project.
BasedRaid is the first trustless recovery protocol designed specifically for Community Takeovers (CTOs). It provides a secure, decentralized infrastructure for communities to rally, pool funds, and execute revival plans without the risk of theft or misuse.
02. Problem Statement
2.1 The "Jeet" Developer Problem
Malicious developers often launch tokens, drain liquidity, and abandon the project within hours. This leaves a community of passionate holders with a "dead" token.
2.2 The Trust Deficit in CTOs
When a community decides to take over, they face a coordination problem:
- "Send to my wallet": A random community member asks for donations to update DexScreener or pay for marketing.
- The Second Rug: Often, this new "leader" steals the donated funds, rugging the community a second time.
- Apathy: Due to this risk, holders are hesitant to contribute, and the takeover fails.
03. The BasedRaid Solution
BasedRaid solves the trust deficit by replacing "trust me bro" with trustless smart contracts.
3.2 Core Mechanic: "Raids"
A Raid is a smart-contract managed crowdfunding campaign for a specific target.
- Initiation: A community leader starts a Raid (e.g., "Raise 1 SOL for DexScreener").
- Escrow: Donors deposit SOL into a program-owned vault (PDA). The leader cannot access these funds.
- Target Logic:
- Success: If funds met before deadline, funds unlock.
- Failure: If deadline passes, raid fails.
- Outcome:
- On Success: Funds released to creator after a security delay (1 hour).
- On Failure: Donors claim a 100% refund trustlessly.
04. Technical Architecture
Built on Solana using the Anchor Framework for high speed and low cost.
05. Tokenomics ($BASEDBOT)
The $BASEDBOT token governs the protocol and fuels the ecosystem.
5.2 Deflationary Mechanism
A portion of protocol fees is used to Buy Back and Burn $BASEDBOT tokens, reducing supply as platform usage grows.
06. Fee Structure
Conclusion
BasedRaid is not just a tool; it's a movement to clean up the Solana ecosystem. By removing the risk of theft from community organization, we empower holders to take control of their investments and revive projects that deserve a second chance.