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What is a Rebase function?

A Rebase function is one whose circulating supply expands or contracts due to changes in the token price. This increase or decrease in supply works with a mechanism called rebasing. When a rebase occurs, the supply of the token is increased or decreased algorithmically, based on the current price of each token.
1 Million DAO takes advantage of a positive rebase formula which increases the token supply allowing $OMD holders to keep growing their tokens, like in a traditional staking protocol. However our use of a rebasing token eliminates the need to approve and traditionally stake your tokens.
Positive rebase is backed by a Strong Support Mechanism (SSM).