Before I forget it’s name, BaseCoin is a project that attempts to stabilize a cryptocurrency, so it does not have wild fluctuations. 

Regular (Fiat) currencies are actively managed by Federal banks to be stable and are also stabilized by being the default currency for labor negotiations, employment contracts, retirement accounts etc which are slow moving changes.

More on crypto stabilization in this post – http://www.nadertheory.com/#!/main/articles/post-09-the-intelligent-cryptocurrency-investor .

https://en.wikipedia.org/wiki/Stablecoin notes that Basis coin failed. It also makes a distinction between fiat-backed stablecoins and cryptocurrency backed stablecoin. In the latter the stabilizing algo works on chain.

Avalanche has a paper classifying stablecoins. https://www.avalabs.org/whitepapers