BDC is a digital form of currency that is backed by a Central Bank and through that has legal tender status. This definition means it is recognized by law as a means to settle debts or meet financial obligations such as tax payments.

Although 'BDC' was the ticker assigned at the deployment of the Based Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'BASEDFINANCE' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.